NTL sells bonds

19 Mar 2004

UK cableco NTL is planning to sell as much as GBP800 million (USD1.5 billion) of bonds to help repay some of its burgeoning debt. NTL is seeking to lower the cost of its borrowing so that it may move closer to profitability. The ten-year senior notes will be denominated in pounds, US dollars and euros and proceeds will be used primarily to repay the company’s senior credit facility.

United Kingdom, Virgin Media