The company has not commented on reports that it will miss the repayments. It is already in talks about restructuring to keep on top of its £12bn debt and has told US regulator the Securities and Exchange Commission that it will delay filing its annual report.
Last week, NTL reported that it was writing off a massive $11bn on the value of its assets, as it posted its results for 2001, with net losses for the year of $15.86bn. CEO Barclay Knapp said that the company was on the verge of running out of funds and may not last long enough to see the restructuring, being handled by Ernst & Young, finished.
During the same week, the New York Stock Exchange announced it was delisting NTL's shares, which had fallen as low as 5 cents -- giving NTL a market capitalisation well below the $100m needed for a listing on the NYSE.
However, NTL, the UK's biggest cable company, released a statement saying that the delisting would not affect services for its customers.
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