Virgin Media Closes $1 Billion Bond Offering

NEW YORK (AP) — Virgin Media Inc. said Wednesday it has closed its offering of $1 billion in 9.5 percent senior notes due in 2016.

"Our successful raising of $1 billion in bonds, particularly in the current market, demonstrates the confidence investors have in our business and growth prospects," Chief Executive Neil Berkett said in a statement.

Virgin, which provides broadband, television and telephone services in the United Kingdom, saw shares slip 54 cents, or 6 percent, to $8.41 in afternoon trading amid broad market losses....