EX-99.1 3 a04-3602_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

 

 

 

ntl Incorporated announces ntl Cable PLC offering of £800m equivalent of senior notes due 2014

 

New York, New York (March 19, 2004) – ntl Incorporated (NASDAQ: NTLI) announced today that its wholly-owned, newly-formed subsidiary ntl Cable PLC is offering up to approximately £800 million equivalent in Sterling, US dollar and Euro denominations in an offering of ten year senior notes.

 

Proceeds from the offering, in conjunction with cash on hand and a new £2.425bn facility at ntl Investment Holdings Ltd, will be used to pay down in full the existing senior credit facility, most of which is due 2005, as well as to redeem the outstanding ntl Triangle debentures due 2007 and the Diamond Holdings notes due 2008.

 

The notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and unless so registered, may not be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

 

Accordingly, the notes will be offered and sold within the United States under Rule 144A only to “qualified institutional buyers” and outside the United States in accordance with Regulation S under the Securities Act.

 

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For more information contact:

 

Investor Relations:

US: Patti Leahy, +1 610 667 5554

UK: Virginia Ramsden, +44 (0)20 7967 3338

 

Media:

 

Justine Parrish, +44 (0)1256 752669  / (0)7966 421 991

 

Buchanan Communications

Richard Oldworth or Mark Edwards, +44 (0)20 7466 5000