Virgin Media 2011 Annual Report Download - page 193

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
VIRGIN MEDIA INVESTMENTS LIMITED AND SUBSIDIARIES
COMBINED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 6—Long Term Debt (continued)
The effective interest rate on the senior credit facility was 3.3% and 4.2% as at December 31, 2011 and
2010, respectively. The effective interest rate on the floating rate loan notes was 5.4% and 5.3% as at
December 31, 2011 and 2010, respectively.
The terms of the senior notes and senior credit facility as at December 31, 2011 are summarized below.
Senior Notes
On July 25, 2006, our parent, Virgin Media Finance PLC, issued $550 million U.S. dollar denominated
9.125% senior notes due 2016 to repay in part an alternative senior bridge facility whose proceeds had been
loaned to us for the acquisition of Telewest UK Limited. All senior notes have been guaranteed by us pursuant to
a senior subordinated guarantee. The terms of our senior notes and loan notes due to Virgin Media Finance PLC
and loan notes due to Virgin Media (UK) Group Inc are summarized below.
•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.
•6.50% Senior Secured Notes due January 15, 2018—The principal amount at maturity is $1,000 million.
Interest is payable semi-annually on June 15 and December 15 commencing June 15, 2010
•7.00% Senior Secured Notes due January 15, 2018—The principal amount at maturity is £875 million.
Interest is payable semi-annually on June 15 and December 15 commencing June 15, 2010
•8.375% Senior Notes due October 15, 2019—The principal amount at maturity is $600 million. Interest
is payable semi-annually on April 15, and October 15 commencing April 15, 2010.
•8.875% Senior Notes due October 15, 2019—The principal amount at maturity is £350 million. Interest
is payable semi-annually on April 15, and October 15 commencing April 15, 2010.
•5.25% Senior Secured Notes due January 15, 2021—The principal amount at maturity is $500 million.
Interest is payable semi-annually on January 15 and July 15 commencing July 15, 2011.
•5.50% Senior Secured Notes due January 15, 2021—The principal amount at maturity is £650 million.
Interest is payable semi-annually on January 15 and July 15 commencing July 15, 2011.
•Floating Rate Loan Notes due October 15, 2012—The principal amount at maturity is $100 million.
The interest rate on the floating rate loan notes is the three-month LIBOR plus 5.0%. Interest is payable
quarterly on January 15, April 15, July 15 and October 15 commencing July 15, 2004.
On March 3, 2011, Virgin Media Secured Finance PLC, a wholly owned subsidiary of VMIH, issued $500
million aggregate principal amount of 5.25% senior secured notes due 2021 and £650 million aggregate principal
amount of 5.50% senior secured notes due 2021. Interest is payable on January 15 and July 15 each year,
beginning on July 15, 2011. The senior secured notes due 2021 rank pari passu with and, subject to certain
exceptions, share in the same guarantees and security which have been granted in favor of our senior credit
facility and senior secured notes due 2018.
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