DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)

3 Months Ended

Mar. 31, 2013

The Company had the following debt obligations as of March 31, 2013 and December 31, 2012:



	As of
	March 31, 2013		December 31, 2012
$75,000, 5.03%, issued in June 2004, payable in seven equal annual installments starting June 14, 2008	$	21,429	$	21,429
$50,000, 6.09%, issued in June 2006, payable on June 6, 2016	50,000		50,000
$50,000, 5.82%, issued in November 2006, payable on November 8, 2016	50,000		50,000
$250,000, 6.75%, issued in November 2009, payable on December 2, 2019	250,000		250,000
$250,000, rate as described below, term loan issued in December 2012, payable 2.5% per quarter through September 2017, final $125,000 payment on December 21, 2017	237,500		243,750
Total remaining principal	$	608,929	$	615,179

Future Principal Payments of Debt Obligations

Future principal payments of debt obligations as of March 31, 2013 were as follows:



Remainder of 2013	$	29,465
2014	35,714
2015	25,000
2016	125,000
2017	143,750
Thereafter	250,000
Total	$	608,929

Revolving Bank Credit Facilities and Term Loans Outstanding of Consolidated Funds

The consolidated funds had the following revolving bank credit facilities and term loans outstanding:



Credit agreement	Outstanding Amount as of				Facility Capacity		LIBOR Margin ⁽¹⁾		Maturity	Commitment Fee Rate		L/C Fee ⁽²⁾
Credit agreement	March 31, 2013		December 31, 2012		Facility Capacity		LIBOR Margin ⁽¹⁾		Maturity	Commitment Fee Rate		L/C Fee ⁽²⁾
Credit facility⁽³⁾⁽⁴⁾	$	—	$	63,000	$	750,000	1.25	%	8/28/2015	N/A		N/A
Senior variable rate notes ⁽⁴⁾	249,500		249,500		$	249,500	1.55	%	10/20/2022	N/A		N/A
Senior variable rate notes ⁽⁴⁾	498,611		—		$	500,000	1.20	%	4/20/2023	N/A		N/A
Multi-currency term loan⁽⁵⁾	14,689		49,158		$	275,000	3.00	%	12/23/2013	N/A		N/A
Revolving credit facility	—		38,000		$	150,000	1.75	%	12/15/2013	0.35	%	N/A
Revolving credit facility	—		8,625		$	125,000	1.75	%	5/20/2014	0.35	%	N/A
Revolving credit facility ⁽⁶⁾	—		19,400		$	55,000	2.00	%	9/15/2013	0.35	%	2.00	%
Revolving credit facility	—		—		$	40,000	1.50	%	12/11/2013	0.30	%	1.50	%
Euro-denominated revolving credit facility	21,765		63,942		€	100,000	1.75	%	12/17/2015	0.30	%	2.00	%
Revolving credit facility	—		—		$	10,000	2.25	%	9/1/2013	0.38	%	N/A
Revolving credit facility	50,000		—		$	250,000	1.65	%	3/22/2015	0.25	%	N/A
	$	834,565	$	491,625


(1)	The facilities bear interest, at the borrower's option, at (a) an annual rate of LIBOR plus the applicable margin or (b) an alternate base rate, as defined in the respective credit agreement.


(2)	Certain facilities allow for the issuance of letters of credit at an applicable annual fee. As of March 31, 2013 and December 31, 2012, outstanding standby letters of credit totaled $77,002 and $76,975, respectively.


(3)	Libor margin equals 1.25% through August 28, 2013 and 2.50% thereafter.


(4)	The credit facility is collateralized by the portfolio investments and cash and cash-equivalents of the fund.

(5)

A four-year $275,000 aggregate principal amount term loan that consists of (a) a U.S. dollar-denominated loan in an aggregate principal amount of $221,451, (b) a euro-denominated loan in an aggregate principal amount of €26,492 and (c) an Australian dollar-denominated loan in an aggregate principal amount of A$17,660. The loan is guaranteed by the fund and, with certain limited exceptions, all of the subsidiaries of the fund, and is collateralized by both the unfunded capital commitments of the partners and, with certain exceptions, the portfolio investments of the fund and its subsidiaries. In connection with the term loan, $4,125 was paid to the administrative agent as a structuring fee and is being amortized over the 4-year life of the loan.


(6)	Effective November 29, 2012 through March 29, 2013, the credit facility was temporarily increased from $55,000 to $80,000.