Virgin Media to price $650 million seven-year senior notes on Friday

By Paul A. Harris

St. Louis, May 27 - Virgin Media Finance plc plans to price a $650 million equivalent offering of seven-year senior notes on Friday, according to market sources.

An investor call is scheduled for Thursday.

The notes are expected to be issued in dollar- and euro-denominated tranches, with tranche sizes to be determined.

J.P. Morgan, Deutsche Bank, Goldman, Sachs & Co., RBS Securities, BNP Paribas, HSBC, Calyon Securities and Crédit Agricole CIB are joint bookrunners for the SEC-registered deal. Fortis Securities LLC, Lloyds TSB Corporate Markets, Barclays Capital and UBS Investment Bank are co-managers.

The notes will come with four years of call protection.

Proceeds will be used to prepay a portion of the outstanding A and B tranches under the New York City-based media company's senior credit facility.

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