NTL Cable Announces Offering

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NTL Inc. said Friday that its NTL Cable plc unit will offer some £800 million ($1.46 billion) in 10-year senior notes.

Proceeds from the offering will be used to pay down in full the company’s existing senior credit facility -- most of which is due in 2005 -- as well as to redeem outstanding NTL Triangle debentures due 2007 and Diamond Holdings notes due 2008.