LONDON, July 15, 2009 (GLOBE NEWSWIRE) -- Virgin Media Inc. (Nasdaq:VMED), a leading UK entertainment and communications business, announced that its wholly-owned subsidiary Virgin Media Finance PLC intends to offer, subject to market and other conditions, approximately $300 million aggregate principal amount of senior notes due 2016.
The notes will be fully interchangeable with the senior notes due 2016 that Virgin Media Finance issued on June 3, 2009 and will rank pari passu with its outstanding senior notes due in 2014 and 2016.
Virgin Media intends to use the net proceeds from the notes offering to prepay a portion of its outstanding "A" and "B" loans under its senior credit facilities.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A registration statement relating to the notes became effective on May 27, 2009, and this offering is being made by means of a prospectus supplement.
Virgin Media cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Virgin Media's results to differ materially from historical results or those expressed or implied by such forward-looking statements. Certain of these factors are discussed in more detail under "Risk Factors" and elsewhere in Virgin Media's Form 10-K filed with the U.S. Securities and Exchange Commission on February 26, 2009. There can be no assurance that the transactions contemplated in this announcement will be completed. Virgin Media assumes no obligation to update any forward-looking statement included in this announcement to reflect events or circumstances arising after the date on which it was made.