Virgin Media 2009 Annual Report Download - page 159

VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 20—Subsequent Events
On January 19, 2010, we issued approximately £1.5 billion equivalent aggregate principal amount
of senior secured notes in a private placement to qualified institutional buyers pursuant to Rule 144A
under the Securities Act, and outside the United States to certain non-U.S. persons pursuant to
Regulation S under the Securities Act. The notes were issued by Virgin Media Secured Finance PLC in
two tranches: $1.0 billion of 6.5% senior secured notes due 2018 and £875 million of 7.0% senior
secured notes due 2018, collectively referred to as the senior secured notes. The net proceeds from the
issuance of the senior secured notes was used to prepay a portion of the outstanding loans under our
senior credit facility, reducing the commitments of the lenders under our senior credit facilities to
approximately £1.6 billion equivalent as of January 29, 2009.
The notes rank pari passu with our senior credit facility and, subject to certain exceptions, share in
the same guarantees and security as granted in favor of our senior credit facility.
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