Virgin Media Inc. (“Virgin Media”) (NASDAQ:VMED) (LSE:VMED) today announced the extension of the early tender deadline for the previously announced cash tender offers by its subsidiary Virgin Media Finance PLC (the “Issuer”) to purchase any and all of its dollar- and euro-denominated 9.50% Senior Notes due 2016 (the “2016 Notes”) and up to $500 million aggregate principal amount (the “Maximum Tender Amount”) of its dollar-denominated 8.375% Senior Notes due 2019 and its sterling-denominated 8.875% Senior Notes due 2019 (the “2019 Notes” and with the 2016 Notes, the “Notes”) (the “Offers”).
The terms and conditions of the tender offer are described in the Offer to Purchase dated as of October 10, 2012 and related Letter of Transmittal that were distributed to holders of Notes.
The Early Tender Deadline is being extended from 11:59 pm New York City time, on October 23, 2012 to 11:59 p.m., New York City time, on October 25, 2012. The Withdrawal Deadline has passed. Validly tendered Notes may no longer be withdrawn.
|Early Tender Deadline for 2016 and 2019 Notes||11:59 p.m., New York City time, October 25, 2012.||The last time for Holders to tender Notes in order to qualify for the payment of the applicable Total Consideration, which includes the applicable Early Tender Premium.|
|Withdrawal Deadline for 2016 and 2019 Notes||11:59 p.m., New York City time, October 23, 2012.||The last time for Holders to validly withdraw tenders of Notes. The Issuer may extend the Early Tender Deadline or increase, decrease or waive the Maximum Tender Amount, in each case without extending the Withdrawal Deadline.|
|Early Settlement Date for 2016 Notes||On or around October 30, 2012||The day that Holders of 2016 Notes will be paid the applicable Total Consideration and accrued interest for 2016 Notes validly tendered at or prior to the Early Tender Deadline and not withdrawn and that are accepted for purchase.|
|Expiration Date for 2016 and 2019 Notes||11:59 p.m., New York City time, November 7, 2012.||The last time for Holders to tender Notes pursuant to the Offers in order to be eligible to receive payment of the applicable Tender Offer Consideration, which excludes the applicable Early Tender Premium.|
|Settlement Date for 2016 and 2019 Notes||Promptly after the Expiration Date. The Issuer expects that this date will be on or about November 8, 2012.||The day that Holders will be paid the applicable Total Consideration and accrued interest for 2019 Notes validly tendered at or prior to the Early Tender Deadline and that are accepted for purchase and the applicable Tender Offer Consideration and accrued interest for Notes validly tendered after the Early Tender Deadline but at or prior to the Expiration Date and that are accepted for purchase.|
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