Virgin Media 2011 Annual Report Download - page 83
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The following table provides information as of December 31, 2011 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,
20112012 2013 2014 2015 2016 Thereafter Total
Long term debt
(including current portion)
U.S. Dollars
Fixed rate ...................... — — — — $2,350.0 $ 2,100.0 $4,450.0 $5,074.8
Average interest rate ............. 8.223% 7.522%
Average forward exchange rate ..... 0.72 0.65
Euros
Fixed rate ...................... — — — — €180.0 — €180.0 €198.9
Average interest rate ............. 9.500%
Average forward exchange rate ..... 0.88
Pounds Sterling
Fixed rate ...................... — — — — — £ 1,875.0 £1,875.0 £1,942.3
Average interest rate ............. 6.830%
Variable rate .................... — — — £ 750.0 — £ 750.0 £ 750.0
Average interest rate .............
LIBOR
plus
1.625%-2.125%
Currency swap agreements related
to long term debt
Receipt of U.S.Dollars (interest and
principal)
Notional amount ................. — — — — $1,350.0 $ 1,600.0 $2,950.0 £ 57.0
Average forward exchange rate ..... 0.62 0.61
Average sterling interest rate paid . . . 10.00% 7.76%
Receipt of U.S.Dollars (interest and
principal)
Notional amount ................. — — — — — $ 500.0 $ 500.0 £ 39.3
Average contract exchange rate ..... 0.62
Average sterling interest rate paid . . . LIBOR+1.94%
Receipt of U.S.Dollars (interest only)
Notional amount ................. — — — — $1,000.0 — $1,000.0 £ 28.0
Average contract exchange rate ..... 0.52
Average sterling interest rate paid . . . 6.91%
Receipt of Euros (interest and
principal)
Notional amount ................. — — — — €180.0 — €180.0 £ (10.4)
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 £ 650.0 £1,250.0 £ 49.3
Average sterling interest rate paid . . . 2.86% LIBOR+1.84%
Sterling interest rate received ....... LIBOR 5.50%
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