NTL completes offering of $550 million in senior notes
July 25 2006 - 9:54AM
Business Wire
NTL Incorporated (NASDAQ: NTLI) today announced the completion of
its offering of $550 million of 9 1/8% U.S dollar denominated ten
year notes issued by NTL's subsidiary, NTL Cable PLC. The notes
rank pari passu with NTL Cable's outstanding dollar, sterling and
euro notes due 2014. "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995: Various statements
contained in this document constitute "forward-looking statements"
as that term is defined under the Private Securities Litigation
Reform Act of 1995. Words like "believe," "anticipate," "should,"
"intend," "plan," "will," "expects," "estimates," "projects,"
"positioned," "strategy," and similar expressions identify these
forward-looking statements, which involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements or industry results to be materially
different from those contemplated, projected, forecasted, estimated
or budgeted, whether expressed or implied, by these forward-looking
statements. These factors include: (1) the failure to obtain and
retain expected synergies from the merger with Telewest and
acquisition of Virgin Mobile; (2) rates of success in executing,
managing and integrating key acquisitions, including the merger
with Telewest and acquisition of Virgin Mobile; (3) the ability to
achieve business plans for the combined ntl: Telewest group; (4)
the ability to manage and maintain key customer relationships; (5)
the ability to fund debt service obligations through operating cash
flow; (6) the ability to obtain additional financing in the future
and react to competitive and technological changes; (7) the ability
to comply with restrictive covenants in NTL's indebtedness
agreements; (8) the ability to control customer churn; (9) the
ability to compete with a range of other communications and content
providers; (10) the effect of technological changes on NTL's
businesses; (11) the functionality or market acceptance of new
products that NTL may introduce; (12) possible losses in revenues
due to systems failures; (13) the ability to maintain and upgrade
NTL's networks in a cost-effective and timely manner; (14) the
reliance on single-source suppliers for some equipment and
software; (15) the ability to provide attractive programming at a
reasonable cost; and (16) the extent to which NTL's future earnings
will be sufficient to cover its fixed charges. These and other
factors are discussed in more detail under "Risk Factors" and
elsewhere in NTL's Form 10-K and NTL Holdings Inc's. Form 10-K that
were filed with the SEC on February 28, 2006 and March 1, 2006
respectively. We assume no obligation to update our forward-looking
statements to reflect actual results, changes in assumptions or
changes in factors affecting these statements.
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