Virgin Media O2 Confirms Pricing and Allocation of GBP 1.474 Billion Debt Financing

Virgin Media O2 has successfully placed a GBP 1.474 billion Term Loan A facility (the “New TLA”) with a pool of 27 leading international banks. The New TLA has priced at SONIA + 3.25% and will have a maturity of 5 years from first drawdown. The New TLA is comprised of GBP 1.124 billion of new money and GBP 350 million of rolling commitments from our existing Term Loan A facility that was signed on 7 December 2020.

Virgin Media O2 intends to use the net proceeds from the New TLA for general corporate purposes including, amongst others, supporting the payment of cash distributions in line with Full Year 2022 guidance.

BNP Paribas acted as Mandated Lead Arranger and Sole Physical Bookrunner and The Bank of Nova Scotia acted as Mandated Lead Arranger and Bookrunner.