Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v2.4.0.6
Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2013
Long-Term Debt  
Schedule of long-term debt

Long-term debt consisted of the following (amounts in thousands):

 

 

 

March 31,
2013

 

December 31,
2012

 

 

 

 

 

 

 

9.125% Senior Notes due April 1, 2020

 

$

410,000

 

$

410,000

 

Term loans, matures March 23, 2018, LIBOR plus 3.25%, subject to a LIBOR floor of 1.00% (a)

 

684,037

 

685,583

 

$150 million revolving credit facility, matures December 22, 2017, LIBOR plus 3.75%, subject to a LIBOR floor of 1.00% (b)

 

21,500

 

12,800

 

 

 

1,115,537

 

1,108,383

 

Less current portion of long-term debt

 

(6,905

)

(6,950

)

Long-term debt

 

$

1,108,632

 

$

1,101,433

 

 

(a)         The interest rate on the term loan was LIBOR plus 4.25%, subject to a LIBOR floor of 1.25%, until March 25, 2013.

(b)         The interest rate on the revolving credit facility was LIBOR plus 4.25%, subject to a LIBOR floor of 1.25%, until March 25, 2013.

Schedule of refinancing costs, reflected in the consolidated statement of operations and comprehensive income (loss) as a component of Other income (expense)

The components of the Refinancing expense, reflected in the condensed consolidated statement of operations and comprehensive income (loss) as a component of Other income (expense) for the three months ended March 31, 2012, are as follows (amounts in thousands):

 

 

 

For the three
months ended

 

 

 

March 31, 2012

 

 

 

 

 

Accelerated amortization of deferred financing costs

 

$

389

 

Accelerated amortization of securitization debt discount

 

6,679

 

Other refinancing costs

 

7,624

 

Gain on early termination of derivative instruments

 

(8,451

)

Total refinancing expense

 

$

6,241

 

Schedule of maturities of long-term debt including short term borrowings

Principal payments scheduled to be made on the Company’s debt obligations are as follows (amounts in thousands):

 

Remainder of 2013

 

$

5,179

 

2014

 

6,905

 

2015

 

6,905

 

2016

 

6,905

 

2017

 

28,405

 

2018

 

655,976

 

Thereafter

 

410,000

 

Total principal payments

 

1,120,275

 

Less: Discount

 

4,738

 

Total debt on condensed consolidated balance sheet

 

$

1,115,537