Virgin Media O2 Vendor Financing Notes V Designated Activity Company (Virgin Media O2)
(VMED) GBP400m 144A (3c7)/ Reg S sr sec green vendor financing notes
due 03/15/32 (7.25y). NC3.25 (03/15/28) (MWC G+50bp), then at 103.938,
101.969, 100. Existing B2/B-/B+ (negative/stable/stable). Via DB
(B&D)/IMI/ING/NatWest jt physical books/Banco
Sbadell/BBVA/CaixaBank/CA/MUFG/RBC/StanChart jt book. No reg rights.
List Dublin. English law. Pays March 15, Sept 15, starting 09/15/25.
Settles 12/18 (T+5). Reg S ISIN: XS2963898890. IPT: low 8s. Price talk:
8.00% area (+/- 12.5bp).
Priced: 7.875% at 100. +376bp vs UKT 1.00% 01/32.
Did investor call at 3:30pm UKT 12/10. Books closed at 1:15pm 12/11.
UOP: Purchase certain Virgin Media O2 accounts receivables and any
excess cash to be on-lent to Virgin Media O2. An amount equivalent to
proceeds raised to be used for investments in green projects, in line
with the VMED O2 Green Bond Framework. Owners: Liberty Global 50% and
Telfonica 50%. Biz: an SPV of Virgin Media, which provides mobile,
broadband and pay-TV services in the UK. HQ: London, UK.
GIC Registration: https://www.netroadshow.com/events/login?show=f0f30e7f&confId=75396
Netroadshow (slides only): https://www.netroadshow.com/nrs/home/#!/?show=d1f8a707.