Virgin Media is to repay £300 million (€335.31m) in debt following the recent amendment in its senior credit facilities. The payment will go through around December 23, 2008 and will be funded from cash currently on the cablenet’s balance sheet.
The amendment to Virgin’s debt facility is dependent on the repayment of £487 million debt from the company’s A and B loans.
Virgin has until May 10, 2009 to pay the remaining £187m due to pay the remaining £187 million, though a £1.5 million allows an extension to August 10, 2009.
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