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DEBT
6 Months Ended
Sep. 30, 2013
Debt Disclosure [Abstract]  
DEBT
DEBT

The Company's note payable consists of a $680.0 million senior note payable revolving credit facility with $486.9 million outstanding at September 30, 2013. Subject to a borrowing base formula, the Company may borrow at the rate of LIBOR plus 3.0% with a minimum of 4.0%.  At September 30, 2013 and March 31, 2013, the Company’s effective interest rate, including the commitment fee, was 4.5% and 5.1%, respectively, and the unused amount available under the revolver at September 30, 2013 was $127.9 million. The Company also had $65.2 million that may become available under the revolving credit facility if it grows the net eligible finance receivables. The revolving credit facility has a commitment fee of 0.40% per annum on the unused portion of the commitment.  Borrowings under the revolving credit facility mature on November 19, 2015.

Substantially all of the Company’s assets are pledged as collateral for borrowings under the revolving credit agreement.