Virgin Media 2009 Annual Report Download - page 185

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VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 8—Long Term Debt (Continued)
The effective interest rate on the senior credit facility was 5.3% and 7.3% as at December 31, 2009
and 2008, respectively. The effective interest rate on the floating rate loan notes was 5.3% and 9.8% 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
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 and loan notes due to Virgin Media
Finance PLC and loan notes due to Virgin Media (UK) Group Inc are summarized below.
•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.
•9.75% Senior Notes due April 15, 2014—The principal amount at maturity is £78.8 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 A47.3 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.
•6.50% Loan Notes due November 15, 2016—The principal amount at maturity is $1,000 million.
Interest is payable semi-annually on May 15 and November 15 commencing November 15, 2008.
•9.50% Senior Notes due August 15, 2016—The principal amount at maturity is $1,350 million and
A180 million. Interest is payable semi-annually on February 15 and August 15 commencing
February 15, 2010.
• 8.375% Senior Notes due October 15, 2019—The principal amount at maturity is $600 million.
Interest is payable semi-annually on April 15 and October 15 commencing April 15, 2010.
• 8.875% Senior Notes due October 15, 2019—The principal amount at maturity is £350 million.
Interest is payable semi-annually on April 15 and October 15 commencing April 15, 2010.
•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.
On June 3, 2009, Virgin Media Finance PLC, or Virgin Media Finance, issued $750 million
aggregate principal amount of 9.50% senior notes due 2016 and A180 million aggregate principal
amount of 9.50% senior notes due 2016, collectively the 9.50% senior notes due 2016. The 9.50%
senior notes due 2016 are unsecured senior obligations of Virgin Media Finance and rank pari passu
with Virgin Media Finance’s outstanding senior notes due 2014 and 2016. Interest is payable on
F-89