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Notes Payable (Tables)
12 Months Ended
Dec. 31, 2013
Notes Payable  
Schedule of notes payable

 

 

 

As of December 31,

 

 

 

2013

 

2012

 

 

 

(in thousands)

 

Credit facility at a floating rate of interest of LIBOR plus 3.00%, secured by engines. The facility has a committed amount of $450.0 million and $430.0 million at December 31, 2013 and 2012, respectively, which revolves until the maturity date of November 2016.

 

$

362,000

 

$

282,000

 

 

 

 

 

 

 

WEST II Series 2012-A term notes payable at a fixed rate of interest of 5.50%, maturing in September 2037. Secured by engines.

 

370,614

 

386,724

 

 

 

 

 

 

 

Note payable at a variable interest rate of LIBOR plus 4.00%, maturing in May 2017, secured by engines.

 

30,000

 

 

 

 

 

 

 

 

Note payable at a fixed interest rate of 4.50%, maturing in January 2014. Secured by engines.

 

15,827

 

17,338

 

 

 

 

 

 

 

Note payable at a fixed rate of 5.50%, maturing in September 2017. Secured by one engine.

 

8,173

 

8,593

 

 

 

 

 

 

 

Note payable at a fixed interest rate of 3.94%, maturing in September 2014. Secured by an aircraft.

 

1,000

 

2,333

 

 

 

 

 

 

 

Total notes payable

 

$

787,614

 

$

696,988

 

Schedule of principal outstanding repayable

 

Year

 

(in thousands)

 

2014

 

$

42,024

 

2015

 

32,934

 

2016 (includes $362.0 million outstanding on revolving credit facility)

 

388,215

 

2017

 

37,373

 

2018

 

23,468

 

Thereafter

 

263,600

 

 

 

$

787,614