Virgin Media  5.5% 15 Sep 2024

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

5.5%

Maturity Date

15 Sep 2024

Next Interest Payment

15 Mar 2020

Interest Period

6 months

ISIN

XS1498566766

Asset Security

First ranking charge over Receivables

Amount

£440,000,000

Ratings

S&P:  B, Moody's:  B1, Fitch:  B+

Call Schedule

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

Status

Payments on time

* 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.

Company Information

Company Legal Name

Virgin Media Finance plc

Industry

Cable & Telecoms

Country of Origin

UK

Year of Incorporation

2004

Ownership Status

Private

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

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.

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

Source: Annual and Quarterly reports

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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