Virgin Media 2009 Annual Report Download - page 120
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VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 7—Investments (Continued)
Investments consist of (in millions):
December 31,
2009 2008
Loans and redeemable preference shares ................... £129.3 £137.7
Share of net assets .................................... 230.6 215.8
£359.9 £353.5
Note 8—Long Term Debt
Long term debt consists of (in millions):
December 31, December 31,
2009 2008
U.S. Dollar
8.75% U.S. dollar senior notes due 2014 ............ £ 55.3 £ 290.7
9.125% U.S. dollar senior notes due 2016 ........... 340.2 376.2
6.50% U.S. dollar convertible senior notes due 2016 . . . 504.5 545.9
9.50% U.S. dollar senior notes due 2016 ............ 810.9 —
8.375% U.S. dollar senior notes due 2019 ........... 365.1 —
Senior credit facility .......................... 275.3 363.8
Euro
8.75% euro senior notes due 2014 ................ 41.9 214.2
9.50% euro senior notes due 2016 ................ 152.9 —
Senior credit facility .......................... 356.5 403.7
Sterling
9.75% sterling senior notes due 2014 .............. 78.8 375.0
8.875% sterling senior notes due 2019 ............. 344.5 —
Senior credit facility .......................... 2,481.0 3,421.9
Capital leases ............................... 166.6 174.6
Other ..................................... 1.2 4.1
5,974.7 6,170.1
Less: current portion .......................... (41.2) (40.5)
£5,933.5 £6,129.6
The effective interest rate on the senior credit facility was 5.3% and 7.3% as at December 31, 2009
and 2008, respectively.
The terms of the senior notes and senior credit facility as at December 31, 2009 are summarized
below.
Senior Notes
At December 31, 2009, we had the following senior notes outstanding:
•8.75% Senior Notes due April 15, 2014—The principal amount at maturity is $89.3 million.
Interest is payable semi-annually on April 15 and October 15 commencing October 15, 2004.
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