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Virgin Media SPV markets £350 million eight-year receivables-backed notes through Thursday
By Paul A. Harris
Portland, Ore., Sept. 26 – Virgin Media Receivables Financing is marketing a £350 million offering of eight-year receivables-backed notes, according to market sources.
The notes are expected to garner single B credit ratings.
The roadshow is scheduled to run through Thursday.
Credit Suisse, Citigroup, Deutsche Bank and ING are the lead managers.
The notes come with three years of call protection.
Proceeds will be used to buy accounts receivable and inventory.
The prospective issuer is a Dublin, Ireland-based special purpose vehicle of Virgin Media Ltd.
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