UPDATE 1-Virgin plans 500 mln stg high yield bond

(Adds more detail)

LONDON, Nov 3 (Reuters) - Virgin Media (VMED.O: Quote, Profile, Research) will launch a bond issue later on Tuesday following an investor call at 1500 GMT, said a banker at one of the lead managers for the sale.

The deal will be for 500 million pounds ($817.7 million) equivalent, denominated in pounds and sterling. The maturity will be for 10 years callable after five.

BNP Paribas, Deutsche Bank, Calyon, Goldman Sachs, HSBC, JP Morgan and RBS are lead managing the transaction which is expected to price on Thursday. The rating is B2/B with Moody's and S&P respectively. ($1=.6115 pounds) (Editing by Mike Nesbit)