Virgin Media 2009 Annual Report Download - page 90
Download and view the complete annual report
Please find page 90 of the 2009 Virgin Media annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
 |
 |
The following table provides information as of December 31, 2009 about our long term fixed and
variable interest rate debt that are sensitive to changes in interest rates and foreign currency exchange
rates (in millions). The table does not reflect the senior secured notes issued and related senior credit
facility repayments made subsequent to the year end. See Liquidity and Capital Resources.
Fair Value
Year ended December 31, December 31,
2010 2011 2012 2013 2014 Thereafter Total 2009
Long term debt (including current portion)
U.S. Dollars
Fixed rate ............... — — — — $ 89.3 $3,500.0 $3,589.3 $3,922.1
Variable rate .............. — — $445.1 — — $ 445.1 $ 436.2
Average interest rate ......... LIBOR plus 8.750% 8.391%
2.0–3.5%
Average forward exchange rate . . . 0.63 0.63 0.62
Euros
Fixed rate ............... — — — — A47.3 A180.0 A227.3 A242.5
Variable rate .............. — — A402.2 — — A402.2 A394.2
Average interest rate ......... LIBOR plus 8.750% 9.500%
2.0–3.5%
Average forward exchange rate . . . 0.87 0.89 0.90
Pounds Sterling
Fixed rate ............... — — — — £ 78.8 £ 350.0 £ 428.8 £ 436.9
Variable Rate ............. £0.2 £285.7 £1,895.0 £300.0 — — £2,480.9 £2,425.9
Average interest rate ......... LIBOR plus LIBOR plus LIBOR plus LIBOR plus 9.750% 8.875%
1.25–2.25% 1.25–2.25% 1.25–3.625% 2.750%
Currency swap agreements related to long term debt
Receipt of U.S. Dollars (interest and principal)
Notional amount ........... — $89.3 $445.1 — — $2,500.0 $3,034.4 £ 33.8
Average forward exchange rate . . . 0.70 0.54 0.60
Average sterling interest rate paid . 9.42% US LIBOR 9.45%
plus 2.13%
Receipt of U.S. Dollars (interest only)
Notional amount ........... — — — — — $1,000.0 $1,000.0 £ 32.1
Average contract exchange rate . . 0.51
Average sterling interest rate paid . 6.95%
Receipt of Euros (interest and principal)
Notional amount ........... — A47.3 A402.2 — — A180.0 A629.5 £ 85.0
Average contract exchange rate . . 0.93 0.69 0.88
Average sterling interest rate paid . 8.90% EURIBOR 10.18%
plus 2.16%
Interest rate derivative financial instruments related to long term debt
Sterling Interest Rate Swaps
Notional amount ........... £3,000.0 £200.0 £1,300.0 £300.0 — — £4,800.0 £ (36.1)
Average sterling interest rate paid . 2.18% 2.57% 3.07% 3.28%
Sterling interest rate received .... LIBOR LIBOR LIBOR LIBOR
88