Virgin Media 2009 Annual Report Download - page 130
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VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 10—Derivative Financial Instruments and Hedging Activities (Continued)
The terms of our outstanding cross-currency interest rate swaps at December 31, 2009 were as
follows:
Notional amount Notional amount Weighted average Weighted average
due from due to interest rate due from interest rate due to
Hedged item/Maturity date Hedge type counterparty counterparty counterparty counterparty
(in millions) (in millions)
$89.3m senior notes due 2014
October 2011 ............. Economic $ 89.3 £ 62.9 8.75% 9.42%
$550m senior notes due 2016
August 2016 .............. Accounting 550.0 301.2 9.13% 8.54%
$1,350m senior notes due 2016
August 2016 .............. Accounting 1,350.0 835.5 9.50% 9.98%
$1,000m convertible senior notes due 2016
November 2016 ............ Economic 1,000.0 505.6 6.50% 6.95%
$600m senior notes due 2019
October 2019 ............. Accounting 264.3 159.8 8.38% 9.03%
October 2011 ............. Economic 335.7 228.0 8.38% 9.23%
October 2011 to October 2019 . . . Accounting 335.7 203.0 8.38% 9.00%
Senior credit facility
September 2012 ............ Economic 445.1 241.5 3 month 3 month
$ LIBOR + 2.00% £ LIBOR + 2.13%
$4,370.1 £2,537.5
A47.3m senior notes due 2014
October 2011 ............. Economic A47.3 £43.8 8.75% 8.90%
A180m senior notes due 2016
August 2016 .............. Accounting 180.0 158.6 9.50% 10.18%
Senior credit facility
September 2012 ............ Economic 402.2 278.9 3 month 3 month
EURIBOR + 2.00% LIBOR + 2.16%
A629.5 £ 481.3
Other
December 2012 ............ Economic A56.7 £40.3 3 month 3 month
EURIBOR + 2.38% LIBOR + 2.69%
December 2013 ............ Economic 43.3 30.7 3 month 3 month
EURIBOR + 2.88% LIBOR + 3.26%
A100.0 £ 71.0
December 2012 ............ Economic £ 38.8 A56.7 3 month 3 month
LIBOR + 2.40% EURIBOR + 2.38%
December 2013 ............ Economic 29.7 43.3 3 month 3 month
LIBOR + 2.90% EURIBOR + 2.88%
£ 68.5 A100.0
All of our cross-currency interest rate swaps include exchanges of the notional amounts at the start
and end of the contract except for the contracts maturing in November 2016 hedging the $1,000 million
convertible senior notes due 2016.
F-34