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Virgin Media in debt offering

UK cable operator Virgin Media said&nbsp; last night it would price a $650m (&pound;407.1m) offering of new debt before the end of the week, in a bid to pay off debt due in the next two years. The new offering of senior notes will give the US-listed group more breathing room and builds on its agreement with lenders last November to delay looming repayments on its &pound;4.3bn debt pile. The new notes will allow it to cover &pound;136m of amortisation repayments due in September 2010 and &pound;288m due in March 2011 on outstanding loans under its senior credit facilities.<br />