Virgin Media 2010 Annual Report Download - page 90
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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).
Year ended December 31,
2010 2011 2012 2013 2014 Thereafter Total
Fair Value
December 31,
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
2.0–3.5% 8.750% 8.391%
Average forward exchange rate . . . 0.63 0.63 0.62
Euros
Fixed rate .................... — — — — €47.3 €180.0 €227.3 €242.5
Variable rate ................. — — €402.2 — — €402.2 €394.2
Average interest rate ...........
LIBOR
plus
2.0–3.5% 8.750% 9.500%
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
1.25–2.25%
LIBOR
plus
1.25–2.25%
LIBOR
plus
1.25–3.625%
LIBOR
plus
2.750%9.750% 8.875%
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
plus
2.13% 9.45%
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 .............. — €47.3 €402.2 — — €180.0 €629.5 £ 85.0
Average contract exchange rate . . 0.93 0.69 0.88
Average sterling interest rate
paid ...................... 8.90%
EURIBOR
plus
2.16% 10.18%
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
87