DEBT



	December 31, 2016				December 31, 2015
In thousands	Current		Non-Current		Current		Non-Current
Senior Notes, net⁽¹⁾	$	—	$	175,991	$	—	$	373,433
3.25% Convertible Senior Notes due 2028	—		—		—		712
Term Loan due 2020, net⁽²⁾	—		—		1,000		93,489
San Bartolomé Lines of Credit	—		—		—		4,571
Capital lease obligations	12,039		22,866		9,431		7,774
	$	12,039	$	198,857	$	10,431	$	479,979

⁽¹⁾Net of unamortized debt issuance costs and premium received of $2.0 million and $5.3 million at December 31, 2016 and December 31, 2015, respectively.

⁽²⁾Net of unamortized debt issuance costs of $5.0 million at December 31, 2015.

7.875% Senior Notes due 2021

In December 2016, the Company redeemed $190.0 million aggregate principal amount of its Senior Notes. The “make-whole premium” redemption price payment of $9.0 million was calculated in accordance with the terms and conditions of the Notes. The redemption of the Senior Notes resulted in a loss of $11.3 million.

In August 2016, the Company entered into two privately-negotiated agreements to exchange $10.8 million in aggregate principal amount of its Senior Notes for 0.7 million shares of common stock. Based on the closing price of the Company's common stock on the date of the exchange, the exchange resulted in a loss of $1.2 million.

In November 2015, the Company entered into a privately-negotiated agreement to exchange $54.2 million in aggregate principal amount of its Senior Notes for 14.4 million shares of common stock. Based on the closing price of the Company's common stock on the date of the exchange, the exchange resulted in a gain of $15.9 million. During 2015 and 2014, the Company repurchased $71.3 million in aggregate principal amount of the Senior Notes.

On or after February 1, 2017, the Company may redeem some or all of the Senior Notes at the applicable redemption prices set forth in the Indenture for the Senior Notes, together with accrued and unpaid interest.

In March 2014, the Company completed a follow-on offering of $150 million in aggregate principal amount of the Senior Notes (the “Additional Notes”) in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Additional Notes constitute a further issuance of the Original Notes (as defined below) and form a single series of debt securities with the Original Notes. Upon completion of Coeur’s offering of the Additional Notes, the aggregate principal amount of the outstanding Senior Notes was $450.0 million. The Company commenced an exchange offer for the Additional Notes on April 10, 2014 to exchange the Additional Notes for freely transferable notes containing substantially similar terms, in accordance with the registration rights granted to the holders of the Additional Notes when they were issued. The exchange offer was consummated on May 9, 2014.

3.25% Convertible Senior Notes due 2028

In July 2016, all outstanding Convertible Notes were redeemed for $0.7 million.

Term Loan due 2020

In July 2016, the Company voluntarily terminated and repaid the Term Loan for $103.4 million including the $99.0 million remaining principal balance and a $4.4 million prepayment premium. The termination of the Term Loan resulted in a loss of $8.8 million.

In July 2015, the Company and certain of its subsidiaries entered into a credit agreement for the Term Loan with Barclays Bank PLC, as administrative agent (the “Term Loan Credit Agreement”). The Term Loan Credit Agreement provided for a five year $100.0 million term loan to the Company, of which a portion of the proceeds were used to repay the Short-term Loan, and the remaining proceeds were used for general corporate purposes. The obligations under the Term Loan were secured by substantially all of the assets of the Company and its domestic subsidiaries, including the land, mineral rights and infrastructure at the Kensington, Rochester and Wharf mines, as well as a pledge of the shares of certain of the Company's subsidiaries.

Lines of Credit

At December 31, 2016, San Bartolomé had an available line of credit for $12.0 million that matures in June 30, 2018, bearing interest at 6.0% per annum, which is secured with machinery and equipment. There was no outstanding balance at December 31, 2016.

At December 31, 2015, San Bartolomé had two outstanding lines of credit. The first line of credit was for $12.0 million bearing interest at 6.0% per annum, maturing June 30, 2018. The second line of credit was for $15.0 million bearing interest at 6.0% per annum that matured on December 29, 2016. Both lines of credit were secured with machinery and equipment. There was an outstanding balance of $4.6 million on the second line of credit at December 31, 2015.

Short-term Loan

In March 2015, the Company entered into a credit agreement (the “Short-term Credit Agreement”) with The Bank of Nova Scotia. The Short-term Credit Agreement provided for a $50.0 million loan (the “Short-term Loan”) to the Company. On June 25, 2015, the Short-term Loan was repaid in full, the security for the Short-term Loan was released, and the Short-term Credit Agreement was terminated.

Capital Lease Obligations

From time to time, the Company acquires mining equipment under capital lease agreements. In 2016, the Company entered into new lease financing arrangements primarily for a larger haul truck fleet at its Rochester mine and mining equipment to support the continued underground mine expansion at the Palmarejo complex. All capital lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments.

Minimum future lease payments under capital and operating leases with terms longer than one year are as follows:



At December 31, (In thousands)
	Operating leases		Capital leases
2017	$	13,709	$	13,292
2018	5,514		10,968
2019	5,304		6,481
2020	3,891		3,675
2021	3,095		2,886
Thereafter	8,716		44
Total	$	40,229	$	37,346
Less: imputed interest	—		(2,441		)
Net lease obligation	$	40,229	$	34,905

Interest Expense



	Year ended December 31,
In thousands	2016			2015			2014
7.875% Senior Notes due 2021	$	28,871		$	33,437		$	32,741
3.25% Convertible Senior Notes due 2028	13			54			173
Term Loan due 2020	4,939			4,719			—
Short-term Loan	—			326			—
San Bartolomé Lines of Credit	15			795			—
Revolving Credit Facility	—			—			179
Loss on Revolving Credit Facility	—			—			3,035
Capital lease obligations	1,437			1,035			972
Accretion of Palmarejo gold production royalty obligation	1,211			6,567			10,773
Amortization of debt issuance costs	1,933			2,257			1,740
Accretion of debt premium	(345		)	(409		)	(357		)
Other debt obligations	72			20			—
Capitalized interest	(1,226		)	(3,098		)	(1,710		)
Total interest expense, net of capitalized interest	$	36,920		$	45,703		$	47,546