Virgin Media 2006 Annual Report Download - page 106

VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
9. Investments (Continued)
Investments are comprised as follows (in millions):
December 31,
2006
Loans and redeemable preference shares £ 159.3
Share of net assets 212.2
10. Long term Debt
Long term debt consists of (in millions):
December 31,
2006 2005
8.75% U.S. Dollar senior notes due 2014 £ 217.0 £ 247.3
9.75% Sterling senior notes due 2014 375.0 375.0
8.75% Euro senior notes due 2014 151.6 155.0
9.125% U.S. Dollar senior notes due 2016 280.8 —
Senior credit facility 5,024.6 1,463.0
Capital leases 104.4 38.2
Other 5.7 1.5
6,159.1 2,280.0
Less: current portion (141.9) (0.8)
£ 6,017.2 £ 2,279.2
The effective interest rate on the senior credit facility was 7.1% and 6.9% as at December 31, 2006 and 2005, respectively.
The terms of the senior notes and senior credit facility as at December 31, 2006 are summarized below.
Senior Notes
• 8.75% Senior Notes due April 15, 2014—The principal amount at maturity is $425 million. Interest is payable semi−annually
on April 15 and October 15 commencing October 15, 2004.
• 9.75% Senior Notes due April 15, 2014—The principal amount at maturity is £375 million. Interest is payable semi−annually
on April 15 and October 15 commencing October 15, 2004.
• 8.75% Senior Notes due April 15, 2014—The principal amount at maturity is €225 million. Interest is payable semi−annually
on April 15 and October 15 commencing October 15, 2004.
• 9.125% Senior Notes due August 15, 2016—The principal amount at maturity is $550 million. Interest is payable
semi−annually on February 15 and August 15 commencing February 15, 2007.
F−26
Source: VIRGIN MEDIA INVESTM, 10−K, March 01, 2007