British Sky Broadcasting Group plc ('Sky') today announced that its wholly owned subsidiary, Sky Holdings Limited, has issued bonds to another wholly owned subsidiary of Sky. The bond issue represents the formalisation of existing inter-company funding, and has no effect on either the net or gross debt position of the Sky group. The total value of the bonds was 1.27 billion, and the bonds have a five-year maturity. The bonds are listed on the Channel Islands Stock Exchange (CISX). Sky Holdings Limited is the intermediate holding company for a number of wholly owned Sky group companies and investments.

BSkyB - Investor Relations - Press Release