DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)

12 Months Ended

Dec. 31, 2013

The Company had the following debt obligations:



	As of December 31,
	2013		2012
$75,000, 5.03%, issued in June 2004, payable in seven equal annual installments starting June 14, 2008	$	10,714	$	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	218,750		243,750
Total remaining principal	$	579,464	$	615,179

As of December 31, 2013, future principal payments of debt obligations were as follows:

The consolidated funds had the following revolving 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	December 31, 2013		December 31, 2012		Facility Capacity		LIBOR Margin ⁽¹⁾		Maturity	Commitment Fee Rate		L/C Fee ⁽²⁾
Credit facility ⁽³⁾	$	434,000	$	63,000	$	435,000	1.45	%	11/14/2018	N/A		N/A
Senior variable rate notes ⁽³⁾	249,500		249,500		$	249,500	1.55	%	10/20/2022	N/A		N/A
Senior variable rate notes ⁽³⁾	498,916		—		$	500,000	1.20	%	4/20/2023	N/A		N/A
Senior variable rate notes ⁽³⁾	402,375		—		$	402,500	1.20	%	7/20/2023	N/A		N/A
Senior variable rate notes ⁽³⁾	64,500		—		$	64,500	1.65	%	7/20/2023	N/A		N/A
Senior variable rate notes⁽³⁾⁽⁴⁾	—		—		$	126,000	Variable		12/23/2018	Variable		N/A
Revolving credit facility	400,000		—		$	500,000	1.60	%	6/26/2015	0.25	%	N/A
Multi-currency term loan ⁽⁵⁾	—		49,158		$	275,000	3.00	%	N/A	N/A		N/A
Revolving credit facility	67,000		38,000		$	150,000	1.75	%	12/15/2014	0.35	%	N/A
Revolving credit facility	—		8,625		$	125,000	1.75	%	5/20/2014	0.35	%	N/A
Revolving credit facility	—		19,400		$	55,000	2.00	%	12/15/2015	0.35	%	2.00	%
Revolving credit facility	—		—		$	40,000	1.50	%	12/5/2014	0.30	%	1.50	%
Euro-denominated revolving credit facility	13,090		63,942		€	100,000	1.75	%	12/17/2015	0.30	%	2.00	%
Revolving credit facility	2,800		—		$	10,000	2.25	%	9/1/2014	0.38	%	N/A
Revolving credit facility	165,000		—		$	350,000	1.65	%	3/22/2015	0.25	%	N/A
Revolving credit facility	—		—		$	20,000	2.00	%	1/31/2015	0.35	%	N/A
Revolving credit facility	—		—		$	30,000	1.50	%	12/11/2015	0.20	%	N/A
	$	2,297,181	$	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 December 31, 2013 and 2012, outstanding standby letters of credit totaled $55,954 and $76,975, respectively.


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


(4)	The LIBOR margin is determined based on a formula defined in the borrowing agreement which incorporates different borrowing values based on the characteristics of collateral investments purchased. The unused commitment fee rate ranges from 0% to 2.0%.


(5)	The loan was fully repaid and terminated on September 20, 2013.