Ntl (NASDAQ:NTLI)
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NTL Incorporated (NASDAQ:NTLI) announced today that its subsidiary, NTL
Cable PLC, has received consents from holders of a majority of its
outstanding 9.75% Senior Notes due 2014 (Sterling-denominated) (the “Sterling
Notes”), 8.75% Senior Notes due 2014 (U.S.
Dollar-denominated) (the “Dollar Notes”)
and 8.75% Senior Notes due 2014 (Euro-denominated) (the “Euro
Notes”), which were issued in 2004 (the “2004
Notes”).
To allow holders who are in the process of delivering their consents to
receive the consent payment described below, the consent solicitation
has been extended and will now expire at 5:00 p.m. New York time on
October 6, 2006 (the “Expiration Date”).
There will be no further extensions, and consents may no longer be
withdrawn.
The consents are sufficient to effect the proposed amendments to the
indenture governing the Notes, as described in the Company’s
Consent Solicitation Statement dated September 21, 2006 (the “Statement”),
pursuant to which the consent solicitation was made.
NTL Cable PLC will proceed to execute a supplemental indenture effecting
the proposed amendments to the indenture governing the Notes. NTL Cable
PLC will make the consent payment of £1 for
each £1,000 principal amount of Sterling
Notes, $1 for each $1,000 principal amount of Dollar Notes, and €1
for each €1,000 principal amount of Euro
Notes for which consents were received (and not previously validly
revoked) prior to the Expiration Date.
NTL Cable PLC retained J.P. Morgan Securities Ltd. to serve as the
exclusive Solicitation Agent for the consent solicitation. Requests for
further information may be directed to Nigel Walder of J.P. Morgan
Securities Ltd. by telephone at +44 20 7777 1074.
This press release is not a solicitation of consent with respect to any
securities, and is not open to holders of 2004 Notes in Italy. The
consent solicitation was made solely by the Statement.
Notes to Editors – about ntl:Telewest
On 4 March 2006 NTL Incorporated completed a merger with Telewest
Global, Inc., creating the UK’s largest
provider of residential broadband and the UK’s
leading provider of triple play services. The company recently completed
its acquisition of Virgin Mobile. NTL offers a wide range of
communications and entertainment services to more than 5 million
residential customers. ntl:Telewest networks can service more than 12
million homes - 50% of UK households.
NTL Incorporated (NASDAQ:NTLI) announced today that its
subsidiary, NTL Cable PLC, has received consents from holders of a
majority of its outstanding 9.75% Senior Notes due 2014
(Sterling-denominated) (the "Sterling Notes"), 8.75% Senior Notes due
2014 (U.S. Dollar-denominated) (the "Dollar Notes") and 8.75% Senior
Notes due 2014 (Euro-denominated) (the "Euro Notes"), which were
issued in 2004 (the "2004 Notes").
To allow holders who are in the process of delivering their
consents to receive the consent payment described below, the consent
solicitation has been extended and will now expire at 5:00 p.m. New
York time on October 6, 2006 (the "Expiration Date"). There will be no
further extensions, and consents may no longer be withdrawn.
The consents are sufficient to effect the proposed amendments to
the indenture governing the Notes, as described in the Company's
Consent Solicitation Statement dated September 21, 2006 (the
"Statement"), pursuant to which the consent solicitation was made.
NTL Cable PLC will proceed to execute a supplemental indenture
effecting the proposed amendments to the indenture governing the
Notes. NTL Cable PLC will make the consent payment of GBP 1 for each
GBP 1,000 principal amount of Sterling Notes, $1 for each $1,000
principal amount of Dollar Notes, and EUR 1 for each EUR 1,000
principal amount of Euro Notes for which consents were received (and
not previously validly revoked) prior to the Expiration Date.
NTL Cable PLC retained J.P. Morgan Securities Ltd. to serve as the
exclusive Solicitation Agent for the consent solicitation. Requests
for further information may be directed to Nigel Walder of J.P. Morgan
Securities Ltd. by telephone at +44 20 7777 1074.
This press release is not a solicitation of consent with respect
to any securities, and is not open to holders of 2004 Notes in Italy.
The consent solicitation was made solely by the Statement.
Notes to Editors - about ntl:Telewest
On 4 March 2006 NTL Incorporated completed a merger with Telewest
Global, Inc., creating the UK's largest provider of residential
broadband and the UK's leading provider of triple play services. The
company recently completed its acquisition of Virgin Mobile. NTL
offers a wide range of communications and entertainment services to
more than 5 million residential customers. ntl:Telewest networks can
service more than 12 million homes - 50% of UK households.