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Debt and Short-Term Borrowings (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Debt Disclosure [Abstract]    
Total Debt

Total debt as of June 30, 2013 and December 31, 2012 was as follows:

(Dollar amounts in thousands) June 30, 2013 December 31, 2012

Senior Secured Credit Facility (Term A) due on April 17, 2018 paying interest at a variable interest rate (London InterBank Offered Rate (“LIBOR”) plus applicable margin(1))

$ 299,609 $

Senior Secured Credit Facility (Term B) due on April 17, 2020 paying interest at a variable interest rate (LIBOR plus applicable
margin
(2))

394,129

Senior Secured Credit Facility due on September 30, 2016 paying interest at a variable interest rate (LIBOR plus applicable
margin
(3))

484,414

Senior Secured Revolving Credit Facility paying interest at a variable interest rate

14,000

Senior Notes due on October 1, 2018, paying interest semi-annually at a rate of 11% per annum

252,347

Other short-term borrowing

8,663 12,995

Total debt

$ 702,401 $ 763,756

(1)

Applicable margin of 2.50% at June 30, 2013.

(2)

Subject to a minimum rate (“LIBOR floor”) of 0.75% plus applicable margin of 2.75% at June 30, 2013.

(3)

Subject to a minimum rate (“LIBOR floor”) of 1.50% plus applicable margin of 4.00% at December 31, 2012.

Total debt consists of the following:

 

     December 31,  
(Dollar amounts in thousands)    2012      2011  

Senior Secured Credit Facility due in September 2016 paying interest at a variable interest rate (London InterBank Offered Rate (“LIBOR”) plus margin(1) )

   $ 484,414       $ 313,333   

Senior Secured Revolving Credit Facility paying interest at a variable interest rate

     14,000         —     

Senior Notes due on October 1, 2018, paying interest semi-annually at a rate of 11% per annum

     252,347         210,500   

Other short-term borrowing

     12,995         —     
  

 

 

    

 

 

 

Total debt

   $ 763,756       $ 523,833   
  

 

 

    

 

 

 

 

(1)

Subject to a minimum rate (“LIBOR floor”) of 1.50% at December 31, 2012 and 2011.