Virgin Media 2010 Annual Report Download - page 89
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The following table provides information as of December 31, 2010 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).
Year ended December 31, Fair Value
December 31,
20102011 2012 2013 2014 2015 Thereafter Total
Long term debt
(including current portion)
U.S. Dollars
Fixed rate ..................... ———— —$4,500.0 $4,500.0 $5,419.1
Average interest rate ............ 7.971%
Average forward exchange rate .... 0.65
Euros
Fixed rate ..................... ———— —€180.0 €180.0 €205.4
Average interest rate ............ 9.500%
Average forward exchange rate .... 0.89
Pounds Sterling
Fixed rate ..................... ———— —£1,225.0 £1,225.0 £1,323.0
Average interest rate ............ 7.536%
Variable rate .................. £ 150.0 £ 175.0 £ 200.0 £ 200.0 £ 950.0 — £1,675.0 £1,672.5
Average interest rate ............
LIBOR
plus
2.75-3.5
LIBOR
plus
2.75-3.5
LIBOR
plus
2.75-3.5
LIBOR
plus
2.75-3.5
LIBOR
plus
2.75-3.75
Currency swap agreements
related to long term debt
Receipt of U.S.Dollars (interest and
principal)
Notional amount ............... ———— —$3,500.0 $3,500.0 £ 120.0
Average forward exchange rate .... 0.60
Average sterling interest rate
paid ....................... 8.74%
Receipt of U.S.Dollars (interest
only)
Notional amount ............... ———— —$1,000.0 $1,000.0 £ 37.2
Average contract exchange rate .... 0.51
Average sterling interest rate
paid ....................... 6.95%
Receipt of Euros (interest and
principal)
Notional amount ............... ———— —€180.0 €180.0 £ (6.2)
Average contract exchange rate .... 0.88
Average sterling interest rate
paid ....................... 10.18%
Interest rate derivative financial
instruments related to long
term debt
Sterling Interest Rate Swaps
Notional amount ............... ————£600.0 — £ 600.0 £ 8.0
Average sterling interest rate
paid ....................... 2.86%
Sterling interest rate received ..... LIBOR
86