Virgin Media 2010 Annual Report Download - page 118
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VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 8—Long Term Debt
Long term debt consists of (in millions):
December 31,
2010
December 31,
2009
Secured Obligation
U.S. Dollar
6.50% senior secured notes due 2018 ................ £ 632.3 £ —
Senior credit facility .............................. — 275.3
Euro
Senior credit facility .............................. — 356.5
Sterling
7.00% senior secured notes due 2018 ................ 863.1 —
Senior credit facility .............................. 1,675.0 2,481.0
Unsecured Obligation
U.S. Dollar
8.75% senior notes due 2014 ....................... — 55.3
9.125% senior notes due 2016 ...................... 352.6 340.2
6.50% convertible senior notes due 2016 ............. 535.4 504.5
9.50% senior notes due 2016 ....................... 843.2 810.9
8.375% senior notes due 2019 ...................... 378.8 365.1
Euro
8.75% senior notes due 2014 ....................... — 41.9
9.50% senior notes due 2016 ....................... 148.5 152.9
Sterling
9.75% senior notes due 2014 ....................... — 78.8
8.875% senior notes due 2019 ...................... 344.8 344.5
Other Secured Obligation
Capital leases ................................... 245.9 166.6
Other ......................................... 0.8 1.2
6,020.4 5,974.7
Less current portion .................................. (222.1) (41.2)
£5,798.3 £5,933.5
The effective interest rate on the senior credit facility was 4.2% and 5.3% as at December 31, 2010 and
2009, respectively.
The terms of the senior notes and senior credit facility as at December 31, 2010 are summarized below.
Senior Notes
At December 31, 2010, we had the following senior notes outstanding:
•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.
•9.50% Senior Notes due August 15, 2016—The principal amount at maturity is $1,350 million and
€180 million. Interest is payable semi-annually on February 15 and August 15 commencing
February 15, 2010.
F-23