Virgin Media today announced that the syndication of its £675m term loan B has now closed.
The facility is part of a larger refinancing programme, which had already seen banks commit to a £1bn term loan A and a £250m revolving credit facility. BNP…
Virgin Media today announced that the syndication of its £675m term loan B has now closed.
The facility is part of a larger refinancing programme, which had already seen banks commit to a £1bn term loan A and a £250m revolving credit facility. BNP Paribas, BoA Merrill Lynch, Credit Agricole, Deutsche Bank, GE Capital, Goldman Sachs, JPMorgan, Lloyds TSB, RBS and UBS were the lenders for term loan A and the RCF, which both pay 350bp over Libor.
The £675m term loan B matures in December 2015 and pays a margin of 375bp over Libor.
Banks participating in the term loan B are expected to sign documentation shortly with drawdown to follow promptly thereafter.