Quarterly report pursuant to Section 13 or 15(d)

DEFERRED FINANCING COSTS

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DEFERRED FINANCING COSTS
9 Months Ended
Sep. 30, 2013
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DEFERRED FINANCING COSTS

NOTE 9. DEFERRED FINANCING COSTS

Bond issue costs represented the costs incurred in conjunction with the issuance of the Terminated 9 58% Notes. On March 14, 2013, we entered into a senior secured credit facility, consisting of a Term Loan B of $300.0 million and a Revolver of $25.0 million. Upon entry into our current senior secured credit facility, all other corporate debt was terminated and all unamortized prior bond issue costs of $2.9 million and unamortized bank loan fees of $0.8 million were recorded as a component of the loss on early retirement of long-term debt. Bank loan fees as of September 30, 2013 represent costs incurred with the current senior secured credit facility. These costs are being amortized over a five-to-seven year term, based on the maturity dates, as an adjustment to interest expense.

Deferred financing costs consist of the following:

 

         As of December 31, 2012              As of September 30, 2013      
     (Dollars in thousands)  

Bond issue costs

   $ 3,060       $ —     

Bank loan fees

     942         4,291   
  

 

 

    

 

 

 
   $ 4,002       $ 4,291