Virgin Media 2006 Annual Report Download - page 72

The applicable interest margin for Tranche A, A1 and the revolving facility depends upon the net leverage ratio then in effect as
set forth below:
Leverage Ratio Margin
Less than 3.00:1 1.250%
Greater than or equal to 3.00:1 but less than 3.40:1 1.375%
Greater than or equal to 3.40:1 but less than 3.80:1 1.500%
Greater than or equal to 3.80:1 but less than 4.20:1 1.625%
Greater than or equal to 4.20:1 but less than 4.50:1 1.750%
Greater than or equal to 4.50:1 but less than 4.80:1 1.875%
Greater than or equal to 4.80:1 but less than 5.00:1 2.125%
Greater than or equal to 5.00:1 2.250%
The applicable interest margins for Tranche B and Tranche C are as follows:
Facility Margin
B1 2.125%
B2 2.125%
B3 2.000%
B4 2.000%
C . 2.750%
Senior Notes
On July 25, 2006, Virgin Media Finance PLC issued U.S. dollar denominated 9.125% senior notes due 2016 with principal
amount outstanding of $550 million. The senior notes due 2016 are unsecured senior obligations of Virgin Media Finance PLC and
rank pari passu with Virgin Media Finance’s outstanding senior notes due 2014. The senior notes due 2016 bear interest at an annual
rate of 9.125% payable on February 15 and August 15 of each year, beginning February 15, 2007. The senior notes due 2016 mature
on August 15, 2016 and are guaranteed by Virgin Media, Virgin Media Group LLC, VMIH and certain other intermediate holding
companies of Virgin Media.
The U.S. dollar denominated 8.75% senior notes due 2014 were issued by Virgin Media Finance PLC on April 13, 2004 and have
a principal amount outstanding of $425 million. The sterling denominated 9.75% senior notes due 2014 were issued by Virgin Media
Finance PLC on April 13, 2004 and have a principal amount outstanding of £375 million. The euro denominated 8.75% senior notes
due 2014 were issued by Virgin Media Finance PLC on April 13, 2004 and have a principal amount outstanding of €225 million. The
senior notes due 2014 mature on April 15, 2014 and are guaranteed by Virgin Media, Virgin Media Group LLC, VMIH and certain of
the intermediate holding companies in the group.
Restrictions under our Existing Debt Agreements
The agreements governing the senior notes and the senior credit facility significantly and, in some cases absolutely, restrict our
ability and the ability of most of our subsidiaries to:
• incur or guarantee additional indebtedness;
• pay dividends or make other distributions, or redeem or repurchase equity interests or subordinated obligations;
• make investments;
• sell assets, including the capital stock of subsidiaries;
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Source: VIRGIN MEDIA INVESTM, 10−K, March 01, 2007