XML 139 R58.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt and Short-Term Borrowings - Additional Information (Detail) (USD $)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 6 Months Ended 12 Months Ended 1 Months Ended 1 Months Ended 6 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2012
Installment
May 09, 2012
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Dec. 31, 2011
May 07, 2012
Mar. 03, 2011
Dec. 31, 2012
If the senior secured leverage ratio at year end is equal to or greater than 2.50
Dec. 31, 2012
If the senior secured leverage ratio is less than or equal to 2.50 and a greater than 2.00
Sep. 30, 2010
Senior Secured Term Loan Facilities
Aug. 14, 2012
Senior Secured Term Loan Facilities
May 09, 2012
Senior Secured Term Loan Facilities
Aug. 14, 2012
Senior Secured Revolving Facility
Sep. 30, 2010
Senior Secured Revolving Facility
Dec. 31, 2012
Senior Secured Revolving Facility
Aug. 14, 2012
LIBOR Floor
Senior Secured Term Loan Facilities
Aug. 14, 2012
LIBOR Floor
Senior Secured Revolving Facility
Aug. 14, 2012
Base Rate
Senior Secured Revolving Facility
Aug. 14, 2012
Alternate Base Rate
Senior Secured Term Loan Facilities
Mar. 03, 2011
Before Amendment
Incremental Credit Facility
Mar. 03, 2011
Before Amendment
LIBOR Floor
Mar. 03, 2011
Before Amendment
LIBOR Floor
Senior Secured Term Loan Facilities
Mar. 03, 2011
Before Amendment
LIBOR Floor
Senior Secured Revolving Facility
Mar. 03, 2011
Before Amendment
Base Rate
Mar. 03, 2011
Before Amendment
Base Rate
Senior Secured Term Loan Facilities
Mar. 03, 2011
Before Amendment
Base Rate
Senior Secured Revolving Facility
Mar. 03, 2011
After Amendment
Incremental Credit Facility
Mar. 03, 2011
After Amendment
LIBOR Floor
Mar. 03, 2011
After Amendment
LIBOR Floor
Senior Secured Term Loan Facilities
Mar. 03, 2011
After Amendment
LIBOR Floor
Senior Secured Revolving Facility
Mar. 03, 2011
After Amendment
Base Rate
Mar. 03, 2011
After Amendment
Base Rate
Senior Secured Term Loan Facilities
Mar. 03, 2011
After Amendment
Base Rate
Senior Secured Revolving Facility
May 04, 2011
Senior Secured Term Loan
Apr. 07, 2011
Senior Secured Term Loan
Dec. 31, 2012
Short-term Debt
Dec. 31, 2012
At any time on or after October 1, 2014 [Member]
Fiscal Years Through 2014
Dec. 31, 2012
At any time on or after October 1, 2014 [Member]
Fiscal Years Through 2015
Dec. 31, 2012
At any time on or after October 1, 2014 [Member]
Fiscal Years Through 2013
Dec. 31, 2012
Prior to October 1, 2014
Dec. 31, 2012
Before October 1, 2013
Maximum
Dec. 31, 2011
Prepayment Penalties
Dec. 31, 2011
Third party fees
Apr. 29, 2013
Senior Notes
Apr. 30, 2013
Senior Notes
Jun. 30, 2013
Senior Notes
Dec. 31, 2012
Senior Notes
Dec. 31, 2011
Senior Notes
Nov. 18, 2011
Senior Notes
Sep. 30, 2010
Senior Notes
Nov. 18, 2011
Senior Notes
Early Debt Redemption Premium
Nov. 18, 2011
Senior Notes
Deferred Debt Issuance Costs
Dec. 31, 2012
Senior Secured Credit Facility due on September 30, 2016 paying interest at a variable interest rate (LIBOR plus margin)
May 07, 2012
11% Senior Notes due 2018
Apr. 17, 2013
Secured Term Loan A
Apr. 17, 2013
Secured Term Loan B
Apr. 17, 2013
Revolving Credit Facility due on April 18, 2018 paying interest at a variable interest rate
Apr. 17, 2013
Revolving Credit Facility due on April 18, 2018 paying interest at a variable interest rate
Minimum
Apr. 17, 2013
Revolving Credit Facility due on April 18, 2018 paying interest at a variable interest rate
Maximum
Jun. 30, 2013
Senior Secured Credit Facilities
Jun. 30, 2013
New Senior Secured Term Loan A
Jun. 30, 2013
New Senior Secured Term Loan A
Commencing On September 30, 2013 To June 2016
Jun. 30, 2013
New Senior Secured Term Loan A
Commencing On September 30, 2016 To June 30, 2017
Jun. 30, 2013
New Senior Secured Term Loan A
Commencing On September 30, 2017 To March 31, 2018
Jun. 30, 2013
New Senior Secured Term Loan A
LIBOR Floor
Minimum
Jun. 30, 2013
New Senior Secured Term Loan A
LIBOR Floor
Maximum
Jun. 30, 2013
New Senior Secured Term Loan A
Base Rate
Minimum
Jun. 30, 2013
New Senior Secured Term Loan A
Base Rate
Maximum
Jun. 30, 2013
New Senior Secured Term Loan B
Jun. 30, 2013
New Senior Secured Term Loan B
Minimum
Jun. 30, 2013
New Senior Secured Term Loan B
Maximum
Jun. 30, 2013
New Senior Secured Term Loan B
LIBOR Floor
Minimum
Jun. 30, 2013
New Senior Secured Term Loan B
LIBOR Floor
Maximum
Jun. 30, 2013
New Senior Secured Term Loan B
Base Rate
Minimum
Jun. 30, 2013
New Senior Secured Term Loan B
Base Rate
Maximum
Jun. 30, 2013
New senior secured credit facilities
Dec. 31, 2012
Senior Secured Term Loan Facilities
Mar. 31, 2013
Senior Secured Term Loan Facilities
Scenario, Forecast
Dec. 31, 2012
Senior Secured Term Loan Facilities
LIBOR Floor
Debt Instrument [Line Items]                                                                                                                                                                    
Outstanding balance                                   $ 14,000,000                                                                               $ 300,000,000 $ 400,000,000 $ 100,000,000       $ 300,000,000               $ 400,000,000                    
Unamortized discount                                                                                                                             6,400,000                                      
Debt issuance cost             8,800,000                                                                                     11,400,000                         5,900,000                               7,200,000      
Unamortized discount written off               500,000                                                                                                             3,400,000                                      
Debt issuance cost written off               600,000                                                                                 7,000,000                           3,000,000                               4,900,000      
Satisfaction and Discharge of Indenture description                                                                                                 (i)) at a redemption price of 100% plus a make-whole premium, plus accrued and unpaid interest, on April 30, 2013 (the “Full Redemption”). On April 17, 2013, the Co-Issuers and the Trustee entered into a Satisfaction and Discharge Agreement whereby EVERTEC Group caused to be irrevocably deposited with the Trustee, to satisfy and to discharge the Co-Issuers’ obligations under the Indenture (a) a portion of the net cash proceeds received by the Company in the Initial Public Offering to Holdings, which contributed such proceeds to EVERTEC Group, in an amount sufficient to effect the Partial Redemption on April 29, 2013 and (b) proceeds from the Credit Agreement described above in an amount sufficient to effect the Full Redemption on April 30, 2013. On April 29, 2013, the Partial Redemption was effected and on April 30, 2013, the Full Redemption was effected.                                                                  
Principal amount of outstanding, redemption value                                                                                                 91,000,000                                                                  
Percentage of redemption price                                                                                             111.00% 100.00%                                                                    
Debt instrument premium                                                                                                 1,800,000                                                                  
Debt redemption premium                                                                                                 41,900,000                                                                  
Original principal amount                                                                                                                                 1.25% 1.875% 2.50%         0.25%                    
Maturity Date                                                                                                   Oct. 01, 2018 Oct. 01, 2018                 Apr. 18, 2018       Apr. 17, 2018               Apr. 17, 2020                    
Credit facility, interest rate margin                                     4.00% 3.75% 2.75% 3.00%     5.25% 5.25%   4.25% 4.25%     4.00% 3.75%   3.00% 2.75%                                                               2.00% 2.50% 1.00% 1.50%   0.75% 1.75% 2.50% 2.75% 1.50% 1.75%       5.50%
Debt instrument description                                                                                                                                               LIBOR Rate and Base Rate are subject to floors at 0.75% and 1.75%, respectively                    
commitment fee for the unused portion                                                                                                                         0.125% 0.375%                                        
Premium Payable on loans         1.00%                                                                                                                                                          
Maximum secured leverage ratio     6.60   6.60                                                                                                                                                          
Credit facilities amount                         355,000,000                                                                                                                                          
Credit facilities, maturity period                         6 years       5 years                                           10 months                                                                                      
Credit facilities amount                                 50,000,000                                                                                                                                  
Quarterly amortization payments on principal of term loan                                                                                                                                                               1.00%    
Mandatory prepayment obligations                                                                                                                                                               Mandatory prepayment obligations also include, subject to expectations: • 100% of the net cash proceeds of asset sales, dispositions and casualty or insurance proceeds, subject to certain exceptions and customary reinvestment provisions; • 50% of the Company’s excess cash flows, which is defined in the Credit Agreement, with such percentage subject to reduction to 25% or 0% based on achievement of specified first lien secured leverage ratios; and • 100% of the net cash proceeds received from issuances of certain debt incurred after the closing of the Merger.    
Prepayment of excess cash flows required under senior secured debt                     50.00% 25.00%                                                                                                                                            
Interest rate floor                                               1.75%     2.75%       1.50%     2.50%                                                                                                
Incremental facility                                             115,000,000             125,000,000                                                                                                        
Incremental facility description                                                           The greater of $125.0 million and the maximum principal amount of debt that would not cause EVERTEC's senior secured leverage ratio to exceed 3.25 to 1.00.                                                                                                        
Call premium paid in connection with amendment                   3,500,000                                                                                                                                                
Debt Issuance Cost, capitalized                                                                                         3,400,000         2,200,000                                                                
Other expenses     2,353,000 8,397,000 2,286,000 10,657,000 8,491,000 3,672,000                                                                         200,000 2,100,000                                                                        
Repayment of senior secured term loan                                                                           1,700,000                                                                                        
Voluntary prepayment of senior secured term loan                                                                         24,700,000                                                                                          
Amendment agreement, maximum dividend payment amount   270,000,000                                                                                                                                                                
Additional incremental term loan borrowed                             170,000,000                                                                                                                                      
Senior secured credit leverage ratio                           Over 2.25 to 1.00   Above 2.50 to 1.00                                                                                                                                    
Commitment fee for revolving facility                               0.75%                                                                                                                                    
Applicable LIBOR margin                                                                                                                                                               4.00%    
LIBOR floor                                                                                                                                                               1.50%    
Senior secured credit leverage ratio 2.93           2.93                                                                                                                                                      
Mandatory debt repayment required                                                                                                                                                                 6,100,000  
Aggregate principal amount of senior secured facility                                                                                                               495,000,000                                                    
Weighted average interest rate                                   6.00%                                                                                                                                
Principal amount debt issued                                                                                                         220,000,000       40,000,000                                                  
Debt instrument, aggregate principal amount purchased                                                                                                       9,500,000                                                            
Notes outstanding 252,347,000           252,347,000 210,500,000                                                                                                                                                    
Interest expense                                                                                                           200,000 300,000                                                      
Additional dividend capacity                 270,000,000                                                                                                                                                  
Senior notes, interest rate                                                                                                   11.00% 11.00%           11.00%                                                  
Cash distribution paid   269,800,000       269,772,000 319,959,000                                                                                                                                                      
Debt redemption price                                                                               105.50% 102.75% 100.00% 100.00%                                                                              
Debt redemption, percentage of debt that may be redeemed                                                                                       35.00%                                                                            
Senior secured credit leverage ratio 3.85           3.85                                                                                                                                                      
Senior secured credit facilities and the senior notes, covenant description             The senior secured leverage ratio as defined in EVERTEC, LLC's credit facility (total first lien senior secured debt minus available cash, up to a maximum of $50.0 million, as defined, to adjusted EBITDA) must be less than 3.85 to 1.0 at December 31, 2012.                                                                                                                                                      
Other short-term borrowing, number of payments 3                                                                                                                                                                  
Other short-term borrowing $ 12,995,000   $ 8,663,000   $ 8,663,000   $ 12,995,000