The Firm represented BNP Paribas, Deutsche Bank, HSBC, RBS, Goldman, Sachs & Co., J.P. Morgan and UBS Investment Bank, as initial purchasers, in connection with a 144A/Regulation S offering by Virgin Media Secured Finance PLC of $500 million of 5.25% Senior Secured Notes due 2021 and £650 million of 5.50% Senior Secured Notes due 2021. The notes rank pari passu with Virgin Media's senior credit facility and its existing senior secured notes due 2018 and, subject to certain exceptions, share in the same guarantees and security which has been granted in favor of its senior credit facility and its existing senior secured notes due 2018.
Virgin Media intends to use the net proceeds from the offering to prepay a portion of its senior credit facility and for general corporate purposes.
Virgin Media is a leading UK entertainment and communications business.
The Simpson Thacher team included Nick Shaw, Mark Brod, Carol Daniel, Tornike Bolkvadze, Till Lefranc and Kristyn Greene (Capital Markets & Securities); Shahpur Kabraji (Credit); SeoJung Park (Tax); and Andrew Pagliughi and Jennie Getsin (FINRA and Blue Sky).