Virgin Media to amend 5½%, 5¼% notes indenture to change call prices

By Sarah Lizee

Olympia, Wash., June 25 – Virgin Media Secured Finance plc plans to amend the indenture governing its $825 million of 5½% senior secured notes due 2029 and its £300 million of 5¼% senior secured notes due 2029 to change the call properties, according to a notice.

The call properties will be amended to reflect the following:

• In 2024, the dollar notes may be redeemed at a price of 102.75, and the sterling notes may be redeemed at a price of 102.625;

• In 2025, the dollar notes may be redeemed at a price of 101.375, and the sterling notes may be redeemed at a price of 101.3125;

• In 2026, the dollar notes may be redeemed at a price of 100.6875, and the sterling notes may be redeemed at a price of 100.6562; and

• In 2027 and onwards, the dollar notes and the sterling notes may be redeemed at par.

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