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Virgin Media news

Broadband provider Virgin Media is seeking to amend some of its existing agreements with lenders, it has been announced.

The fibre optic broadband and digital TV firm has announced it is looking for consent to change several of its current deals, where its amount of principal outstanding debt currently stands at £3.1 billion.

Such plans have been unanimously backed by the company's top ten relationship banks, which are planning to support the refinancing of its existing debt over the near future.

Neil Berkett, Chief Executive Officer of Virgin Media, said: "The proactive management of our capital structure has been reflected by the continued market confidence in our business.

"The amendments to our senior facilities will further enhance our financial flexibility and allow management to focus on enhancing our operations whilst continuing to grow the business and generate sustained cash flow."

News of the move has come after Virgin Media recently revealed it has obtained a secondary listing on the London Stock Exchange.

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