Virgin Media 2010 Annual Report Download - page 83

Senior Unsecured Notes
In November 2009, Virgin Media Finance issued U.S. dollar denominated 8.375% senior notes due 2019
with a principal amount outstanding of $600 million and sterling denominated 8.875% senior notes due 2019
with a principal amount outstanding of £350 million, collectively, the senior notes due 2019. Interest on the
senior notes due 2019 is payable on April 15 and October 15 of each year. The senior notes due 2019 are
unsecured senior obligations of Virgin Media Finance and rank pari passu with Virgin Media Finance’s
outstanding senior notes due 2014 and 2016. The senior notes due 2019 mature on October 15, 2019 and are
guaranteed on a senior basis by Virgin Media Inc., Virgin Media Group LLC, Virgin Media Holdings Inc.,
Virgin Media (UK) Group, Inc. and Virgin Media Communications Limited and on a senior subordinated basis
by VMIH and Virgin Media Investments Limited.
In June 2009, Virgin Media Finance issued U.S. dollar denominated 9.50% senior notes due 2016 with a
principal amount outstanding of $750 million and euro denominated 9.50% senior notes due 2016 with a
principal amount outstanding of €180 million. In July 2009, Virgin Media Finance issued additional U.S. dollar
denominated 9.50% senior notes due 2016 with a principal amount outstanding of $600 million. The U.S. dollar
denominated senior notes issued in June 2009 and July 2009, respectively, are treated as a single issuance of the
same notes under the indenture for these notes, collectively, the 9.50% senior notes due 2016. Interest on the
9.50% senior notes due 2016 is payable on February 15 and August 15 of each year. 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 2019 and its 9.125% senior notes due 2016. The 9.50% senior notes due
2016 mature on August 15, 2016 and are guaranteed on a senior basis by Virgin Media Inc., Virgin Media Group
LLC, Virgin Media Holdings Inc., Virgin Media (UK) Group, Inc. and Virgin Media Communications Limited
and on a senior subordinated basis by VMIH and VMIL.
In July 2006, Virgin Media Finance issued U.S. dollar denominated 9.125% senior notes due 2016, or the
9.125% senior notes due 2016, with a principal amount outstanding of $550 million. The 9.125% senior notes
due 2016 are unsecured senior obligations of Virgin Media Finance and rank pari passu with Virgin Media
Finance’s outstanding 9.50% senior notes due 2016 and its senior notes due 2014 and 2019. Interest on the
9.125% senior notes due 2016 is payable on February 15 and August 15 of each year. The 9.125% senior notes
due 2016 mature on August 15, 2016 and are guaranteed on a senior basis by Virgin Media Inc., Virgin Media
Group LLC, Virgin Media Holdings Inc., Virgin Media (UK) Group, Inc. and Virgin Media Communications
Limited and on a senior subordinated basis by VMIH and VMIL.
In April 2004, Virgin Media Finance issued U.S. dollar denominated 8.75% senior notes due 2014 with a
principal amount outstanding of $425 million, sterling denominated 9.75% senior notes due 2014 with a principal
amount outstanding of £375 million, and euro denominated 8.75% senior notes due 2014 with a principal amount
outstanding of €225 million, collectively, the senior notes due 2014. We partially redeemed our senior notes due
2014 in December 2009 using the proceeds from the senior notes which we issued in November 2009, and we
redeemed the outstanding balance of our senior notes due 2014 in full on May 12, 2010 using cash from our
balance sheet.
Senior Secured Notes
On January 19, 2010, our wholly owned subsidiary Virgin Media Secured Finance PLC issued U.S. dollar
denominated 6.50% senior secured notes due 2018 with a principal amount outstanding of $1.0 billion and
sterling denominated 7.00% senior secured notes due 2018 with a principal amount outstanding of £875 million,
collectively, the senior secured notes due 2018. Interest is payable on the senior secured notes due 2018 on
June 15 and December 15 each year, beginning on June 15, 2010. The senior secured notes due 2018 rank pari
passu with our senior credit facility and, subject to certain exceptions, share in the same guarantees and security
which has been granted in favor of our senior credit facility. See “Senior Credit Facility—Guarantees: Security”.
On August 5, 2010, we completed an offer to exchange any and all of the then outstanding senior secured
notes due 2018, which we originally issued in a U.S. private placement, for an equivalent amount of new senior
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