Virgin Media  6.25% 28 Mar 2029

Description Bond Information Company Information Capital Structure Key Financials Reports News & Stories

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.

Bond Information

Coupon

6.25%

Maturity Date

28 Mar 2029

Next Interest Payment

15 Jan 2020

Interest Period

6 months

ISIN

XS1047556664

Asset Security

First ranking charge over company assets

Amount

£400,000,000

Ratings

S&P:  BB-, Moody's:  Ba3, Fitch:  BB+

Call Schedule

15 Jan 2021 at 103.125
15 Jan 2022 at 102.083
15 Jan 2023 at 101.042
15 Jan 2024 at 100

Status

Payments on time

Company Information

Company Legal Name

Virgin Media Secured Finance plc

Year of Incorporation

2004

Ownership Status

Private

Registered Location

UK

Industry

Cable & Telecoms

* Current Yield and Yield to Maturity are on estimated return calculations and not guaranteed. All yields shown are gross of Taxation and our Service Fee.

Capital Structure

Senior Debt

54%

Junior Debt

7%

Equity

39%

Cash

-1.2%

Senior Notes (combined)

6.2%

Content Liabilities

12.0%

Net Debt

17.0%

Equity

83.0%

Enterprise Value

100.0%

EDITDA

£883,000,000

Cash interest

£226,400,000

Type £m x EBITDA* % of capitalisation* Maturity* Coupon* EBITDA/Interest*
Cash na na na na na na
Finance Lease na na na na na na
Undrawn RCF (£675m) na na na na na na
Other debt na na na na na na
Leases and Vendor Financing na na na na na na
Senior Term Loans na na na na na na
Senior Secured Bonds na na na na na na
Net Senior Debt na na na na na na
Senior Bonds na na na na na na
Net Total Debt na na na na na na
Equity Value na na na na na na
Net Capitalisation na na na na na na
             
EBITDA na          
Cash interest na          

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

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Key Financials (£m) 2011A 2012A 2013A 2014A 2015A 2016A 2017A 2018A 3m 2018 3m 2019
n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a

Source: Annual and Quarterly reports

£106.5

Market Price

Reports & Information

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.

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.

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