Virgin Media (UK)

Incorporated 2004

Privately owned by Liberty Global

Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£440,000,000

Current Yield

5.3%

*
Estimated Yield to Maturity

5.0%

**
Maturity Date

15 Sep 2024

Interest Payment Frequency

6m

Next interest payment

15 Mar 2018

Asset Security

First ranking charge over Receivables

Industry Type

Cable and Telecoms

Next Call

15 September 2019 at 102.75
15 September 2020 at 101.375
15 September 2021 at 100

ISIN

XS1498566766


Business Description

Virgin Media is a part of Liberty Global plc, the world’s largest international cable television company. Together Virgin Media and Liberty Global serve 25 million customers across 14 countries, helping connect people to the digital world and enabling them to discover and experience its endless possibilities. Virgin Media is the UK’s first provider of all four broadband, TV, mobile phone and home phone services. The cable network is the result of a multi-billion pound private investment and delivers ultrafast broadband to over half of all UK homes, with speeds of up to 152Mb, as well as market leading connectivity to thousands of public and private sector organisations across the country.

Virgin Media deliver one of the most advanced interactive television services in the country, bringing together broadcast TV, thousands of hours of TV On Demand and the best of the web in a single set-top box powered by TiVo®. Virgin Media were even the first to offer HD TV and 3D On Demand to millions of British households.

Virgin Mobile was launched over a decade ago as the world’s first virtual mobile network and is also one of the largest fixed-line home phone providers.

Virgin Media additional image

Capital Structure

Source: Annual and Quarterly reports
* An asterisk next to an item indicates there is additional information available if you hover over it. You can also find a definition of the terms used on this page in our Glossary here
Based on the 8.8x EBITDA purchase multiple paid by Liberty Global for Virgin Media


Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.

* This is the estimated return an investor can expect to receive over the next 12 months expressed in percentage terms. It is the sum of the expected interest payments over the year and where the coupon is partly dependent on Libor uses market based Libor forecasts at each coupon date and also takes into account the Note's current price. It is gross of taxation and our Service Fee. The current yield is therefore an estimated return only and is not guaranteed and may be revised in the future.
** This is an estimated annualised return gross of taxation and our Service Fee assuming the investment is held to maturity. It equates the present value of expected future interest payments of a Note into an annual yield across its life relative to the Note's current price. Where the interest coupon is partly dependent on Libor it uses market based forecasts of Libor and assumes that all interest is re-invested at a rate equal to the Yield to Maturity. For floating rate coupons because current market based forecasts are for Libor to increase in future years the calculation of Yield to Maturity assumes the interest paid to investors will be higher in future years. However, there is no guarantee that the Bank of England will raise interest rates or that Libor will increase as a result. In addition, any changes to the financial circumstances of the company or changes in the economic terms of the underlying loan could also impact future interest payments. The Yield to Maturity is therefore an estimated return only and is not guaranteed.

Status: Performing


Notes:

The company currently has no outstanding notes.

Capital at risk. No FSCS cover. See Risk Statement.

 

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