Virgin Media 2012 Annual Report Download - page 90

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F-19
The terms of the senior notes, senior credit facility and revolving credit facility as at December 31, 2012 are
summarized below.
Senior Notes
At December 31, 2012, we had the following senior notes outstanding:
• 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 $507.1 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 £253.5 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.
• 5.25% Senior Notes due February 15, 2022 - The principal amount at maturity is $500 million. Interest is
payable semi annually on February 15 and August 15 commencing August 15 2012.
• 4.875% Senior Notes due February 15, 2022 - The principal amount at maturity is $900 million. Interest is
payable semi-annually on February 15 and August 15 commencing February 15, 2013.
• 5.125% Senior Notes due February 15, 2022 - The principal amount at maturity is £400 million. Interest is
payable semi-annually on February 15 and August 15 commencing February 15, 2013.
On March 13, 2012, our wholly owned subsidiary, Virgin Media Finance PLC, issued $500 million aggregate principal
amount of 5.25% senior notes due 2022 at par. The proceeds of $495.5 million, net of fees, were received on March
13, 2012. Interest is payable on February 15 and August 15 each year, beginning on August 15, 2012. The senior
notes due 2022 rank pari passu with Virgin Media Finance PLC's outstanding senior notes due 2019 and 2022. On
March 28, 2012, we used the net proceeds from these new senior notes, and cash on our balance sheet, to redeem
$500 million of the principal amount of the $1,350 million 9.50% senior notes due 2016. We recognized a loss on
extinguishment of debt of £58.6 million as a result of this redemption, which represented the difference between the
consideration paid to redeem $500 million of the 9.50% senior notes due 2016 and the carrying value of those notes,
and the write-off of associated deferred finance costs.
On October 30, 2012, Virgin Media Finance PLC, issued $900 million aggregate principal amount of 4.875% senior
notes due 2022 at par and £400 million aggregate principal amount of 5.125% senior notes due 2022, at par. The
proceeds of $893.0 million and £396.9 million, net of fees, were received on October 30, 2012. Interest is payable
on February 15 and August 15 each year, beginning on February 15, 2013. The senior notes due 2022 rank pari
passu with Virgin Media Finance PLC's outstanding senior notes due 2019 and 2022.
We used the net proceeds from the senior notes due 2022, issued in October 2012, to redeem in full the outstanding
$850 million and €180 million 9.50% senior notes due 2016 and to redeem $92.9 million of the principal amount of
the $600 million 8.375% senior notes due 2019 and £96.5 million of the principal amount of the £350 million 8.875%
senior notes due 2019. We recognized a loss on extinguishment of debt of £129.2 million as a result of these
redemptions, which represented the difference between the consideration paid to redeem the respective notes and
the carrying value of those notes, and the write-off of associated deferred finance costs.
Table of Contents
VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 6—Long Term Debt (continued)