Virgin Media 2011 Annual Report Download - page 123
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VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 9—Derivative Financial Instruments and Hedging Activities (continued)
The terms of our outstanding cross-currency interest rate swaps at December 31, 2011 were as follows:
Hedged item/Maturity date Hedge type
Notional
amount due
from
counterparty
Notional
amount due to
counterparty
Weighted average
interest rate due
from counterparty
Weighted average
interest rate due to
counterparty
(in millions) (in millions)
$1,350m senior notes due
2016
August 2016 .......... Accounting $1,350.0 £ 836.0 9.50% 10.00%
$1,000m convertible senior
notes due 2016
November 2016 ....... Economic 1,000.0 516.9 6.50% 6.91%
$600m senior notes due 2019
October 2019 ......... Accounting 264.3 159.8 8.38% 9.03%
October 2011 to October
2019 .............. Accounting 335.7 203.0 8.38% 9.00%
$1,000m senior secured notes
due 2018
January 2018 ......... Accounting 1,000.0 615.7 6.50% 7.02%
$500m senior secured notes
due 2021
January 2021 ......... Accounting 500.0 308.9 5.25% 6 month
LIBOR + 1.94%
$4,450.0 £2,640.3
€180m senior notes due 2016
August 2016 .......... Accounting €180.0 £ 158.6 9.50% 10.18%
€180.0 £ 158.6
Other
December 2012 ....... Economic €56.7 £ 40.3 3 month 3 month
EURIBOR + 2.38% LIBOR + 2.69%
December 2013 ....... Economic 43.3 30.8 3 month 3 month
EURIBOR + 2.88% LIBOR + 3.26%
€100.0 £ 71.1
December 2012 ....... Economic £ 38.8 €56.7 3 month 3 month
LIBOR + 2.40% EURIBOR + 2.38%
December 2013 ....... Economic 29.7 43.3 3 month 3 month
LIBOR + 2.90% EURIBOR + 2.88%
£ 68.5 €100.0
All of our cross-currency interest rate swaps include exchanges of the notional amounts at the start and end
of the contract except for the contracts maturing in November 2016 hedging the $1,000 million convertible
senior notes due 2016.
F-34