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DEBT (Tables)
3 Months Ended
Mar. 31, 2013
Schedule of Debt Outstanding

Debt outstanding as of March 31, 2013 and December 31, 2012 consists of the following (in thousands):

 

    March 31,
2013
    December 31,
2012
 

Revolving Credit Facility, principal due at maturity in December 2017; interest payable periodically at variable interest rates. The weighted average rate at both March 31, 2013 and December 31, 2012 was 1.7%.

  $ 560,000      $ 655,000   

7.75% Senior Notes, principal due at maturity in June 2017; interest payable semi-annually in June and December at 7.75%. These notes were issued with a $13.4 million discount, of which $8.1 million and $8.5 million was unamortized at March 31, 2013 and December 31, 2012, respectively.

    456,948        456,545   
 

 

 

   

 

 

 
  $ 1,016,948      $ 1,111,545