Virgin Media 2014 Annual Report Download - page 21

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VIRGIN MEDIA INC.
(See note 1)
Notes to Condensed Consolidated Financial Statements — (Continued)
June 30, 2014
(unaudited)
19
VM Credit Facility
The VM Credit Facility, as amended, is the senior secured credit facility of VMIH, together with certain other subsidiaries of
Virgin Media. The details of our borrowings under the VM Credit Facility as of June 30, 2014 are summarized in the following
table:
Facility Final maturity date Interest rate
Facility amount
(in borrowing
currency)
Unused
borrowing
capacity Carrying
value (a)
in millions
A............................................... June 7, 2019 LIBOR + 3.25% £ 375.0 £ — £ 375.0
B ............................................... June 7, 2020 LIBOR + 2.75% (b) $ 2,755.0 — 1,603.9
D............................................... June 30, 2022 LIBOR + 3.25% (b) £ 100.0 — 99.8
E ............................................... June 30, 2023 LIBOR + 3.50% (b) £ 849.4 — 847.3
Revolving facility (c) ............... June 7, 2019 LIBOR + 3.25% £ 660.0 660.0 —
Total................................................................................................................................................... £ 660.0 £ 2,926.0
_______________
(a) The carrying values of VM Facilities B, D and E include the impact of discounts.
(b) VM Facilities B, D and E each have a LIBOR floor of 0.75%.
(c) The revolving facility has a fee on unused commitments of 1.3% per year.
Maturities of Debt and Capital Lease Obligations
The pound sterling equivalents of the maturities of our debt and capital lease obligations as of June 30, 2014 are presented
below:
Debt Capital lease
obligations Total
in millions
Year ending December 31:
2014 (remainder of year) .............................................................................. £ 41.1 £ 49.5 £ 90.6
2015 .............................................................................................................. 46.0 75.8 121.8
2016 .............................................................................................................. — 44.3 44.3
2017 .............................................................................................................. — 18.7 18.7
2018 .............................................................................................................. — 4.2 4.2
2019 .............................................................................................................. 925.0 2.8 927.8
Thereafter...................................................................................................... 6,942.7 142.7 7,085.4
Total debt maturities................................................................................... 7,954.8 338.0 8,292.8
Unamortized premium, net of discount........................................................... 62.0 — 62.0
Amounts representing interest........................................................................ —(133.0)(133.0)
Total debt.................................................................................................... £ 8,016.8 £ 205.0 £ 8,221.8
Current portion................................................................................................ £ 88.5 £ 83.5 £ 172.0
Noncurrent portion.......................................................................................... £ 7,928.3 £ 121.5 £ 8,049.8