Annual report pursuant to Section 13 and 15(d)

NOTES PAYABLE AND LONG-TERM DEBT (Tables)

v2.4.0.8
NOTES PAYABLE AND LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2013
Change in Rate Based on Leverage Ratio

Details of the change in our rate based on our leverage ratio were as follows:

 

Consolidated Leverage Ratio

    Base Rate     Eurodollar
Rate Loans		     Applicable
Fee Rate		  

Less than 3.25 to 1.00

      0.75 %      2.25 %      0.40 % 

Greater than or equal to 3.25 to 1.00 but less than 4.50 to 1.00

      0.75 %      2.50 %      0.50 % 

Greater than or equal to 4.50 to 1.00 but less than 6.00 to 1.00

      1.25 %      3.00 %      0.60 % 

Greater than or equal to 6.00 to 1.00

      2.25 %      3.50 %      0.75 % 
Repurchased and Redemptions of Nine and Five Eighths Percent Notes

Information regarding repurchases and redemptions of the Terminated 95/8% Notes are as follows:

 

Date

    Principal
Redeemed/Repurchased		      Premium
Paid		      Unamortized
Discount		      Bond Issue
Costs		  
     (Dollars in thousands)  

June 3, 2013

    $ 903       $ 27       $ 3       $ —     

March 14, 2013

      212,597         22,650         837         2,867   

December 12, 2012

      4,000         120         17         57   

June 1, 2012

      17,500         525         80         287   

December 12, 2011

      12,500         375         62         337   

September 6, 2011

      5,000         144         26         135   

June 1, 2011

      17,500         525         93         472   

December 1, 2010

      12,500         375         70         334   

June 1, 2010

      17,500         525         105         417   
Long-Term Debt

Long-term debt consisted of the following:

 

     As of December 31,  
     2012     2013  
     (Dollars in thousands)  

Term Loan B

    $ —        $ 289,939   

Revolver

      —          —     

Terminated Revolver

      33,000        —     

Terminated 95/8% senior secured second lien notes due 2016

      212,622        —     

Terminated Subordinated debt

      7,500        —     

Terminated Subordinated Debt due to Related Parties

      15,000        —     

Capital leases and other loans

      858        854   
  

 

 

    

 

 

  
     268,980        290,793   

Less current portion

      (20,108 )      (3,121 ) 
  

 

 

    

 

 

  
   $ 248,872      $ 287,672   
  

 

 

    

 

 

  
Principle Repayment Requirements Under Long Term Agreements Outstanding

Principal repayment requirements under all long-term debt agreements outstanding at December 31, 2013 for each of the next five years and thereafter are as follows:

 

     Amount  
     (Dollars in thousands)  

2014

    $ 3,121   

2015

      3,107   

2016

      3,094   

2017

      3,101   

2018

      3,091   

Thereafter

      275,279   
  

 

 

  
   $ 290,793   
  

 

 

  
Term Loan B and Revolving Credit Facility
  
Change in Rate Based on Leverage Ratio
          Revolver Pricing  

Pricing Level

   

Consolidated Leverage Ratio

   

Base Rate Loans

    

LIBOR Loans

  

1

    Less than 3.00 to 1.00      1.250 %      2.250 % 

2

    Greater than or equal to 3.00 to 1.00 but less than 4.00 to 1.00      1.500 %      2.500 % 

3

    Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00      1.750 %      2.750 % 

4

    Greater than or equal to 5.00 to 1.00 but less than 6.00 to 1.00      2.000 %      3.000 % 

5

    Greater than or equal to 6.00 to 1.00      2.500 %      3.500 %