Virgin Media 2006 Annual Report Download - page 163

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
10. Long term Debt
Long term debt consists of (in millions):
December 31,
2006 2005
8.75% U.S. Dollar senior loan notes due 2014 due to Virgin Media Finance PLC £ 217.0 £ 247.3
9.75% Sterling senior loan notes due 2014 due to Virgin Media Finance PLC 375.0 375.0
8.75% Euro senior loan notes due 2014 due to Virgin Media Finance PLC 151.6 155.0
9.125% U.S. Dollar senior notes due 2016 due to Virgin Media Finance PLC 280.8 —
Floating rate senior loan notes due 2012 due to Virgin Media Finance PLC 51.1 58.2
Senior credit facility 5,024.6 1,463.0
Other loan notes due to affiliates 277.6 293.0
Capital leases 104.4 38.2
Other 5.7 1.5
6,487.8 2,631.2
Less: current portion (141.9) (0.8)
£ 6,345.9 £ 2,630.4
The effective interest rate on the senior credit facility was 7.1% and 6.9% as at December 31, 2006 and 2005, respectively. The
effective interest rate on the floating rate note was 10.4% and 8.3% 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
Our parent, Virgin Media Finance PLC, issued senior notes due 2014 on April 13, 2004. On July 25, 2006, Virgin Media Finance
PLC issued $550 million U.S. dollar denominated 9.125% senior notes due 2016 to repay in part an alternative senior bridge facility
whose proceeds had been loaned to us for the acquisition of Telewest UK Limited. All senior notes have been guaranteed by us
pursuant to a senior subordinated guarantee. The terms of our senior notes due to Virgin Media Finance PLC and our senior credit
facility at December 31, 2006 are summarized below.
• 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.
• Floating Rate Loan Notes due October 15, 2012—The principal amount at maturity is $100 million. The interest rate on the
floating rate loan notes is the three−month LIBOR plus 5.0%. Interest is payable quarterly on January 15, April 15, July 15 and
October 15 commencing July 15, 2004.
F−84
Source: VIRGIN MEDIA INVESTM, 10−K, March 01, 2007