Virgin Media 2007 Annual Report Download - page 173

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VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
9. Long Term Debt
Long term debt consists of (in millions):
December 31,
2007 2006
8.75% U.S. Dollar senior loan notes due 2014 due to Virgin Media Finance PLC . £ 214.2 £ 217.0
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 ...... 165.6 151.6
9.125% U.S. Dollar senior notes due 2016 due to Virgin Media Finance PLC .... 277.2 280.8
Floating rate senior loan notes due 2012 due to Virgin Media Finance PLC ..... 50.4 51.1
Senior credit facility ............................................. 4,804.8 5,024.6
Other loan notes due to affiliates .................................... 284.7 277.6
Capital leases .................................................. 116.9 104.4
Other ........................................................ 4.8 5.7
6,293.6 6,487.8
Less: current portion ............................................. (29.1) (141.9)
£6,264.5 £6,345.9
The effective interest rate on the senior credit facility was 7.8% and 7.1% as at December 31, 2007
and 2006, respectively. The effective interest rate on the floating rate note was 10.2% and 10.4% as at
December 31, 2007 and 2006, respectively.
The terms of the senior notes and senior credit facility as at December 31, 2007 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 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 A225 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
F-87