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NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details)
$ / shares in Units, € in Thousands, BRL in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Nov. 14, 2016
$ / shares
Oct. 01, 2016
USD ($)
Jul. 31, 2016
AUD
loan
Jul. 14, 2016
USD ($)
Mar. 13, 2015
USD ($)
Feb. 27, 2014
USD ($)
Dec. 21, 2009
USD ($)
Nov. 11, 2016
USD ($)
$ / shares
shares
Sep. 30, 2015
EUR (€)
Dec. 31, 2013
USD ($)
Nov. 30, 2012
CAD
Oct. 31, 2006
USD ($)
Jun. 30, 2016
USD ($)
Sep. 30, 2016
USD ($)
Sep. 30, 2015
USD ($)
Sep. 30, 2014
USD ($)
$ / shares
shares
Nov. 16, 2016
USD ($)
Sep. 30, 2016
AUD
property
Sep. 30, 2016
USD ($)
property
$ / shares
Sep. 30, 2016
CAD
property
Sep. 30, 2016
EUR (€)
property
Sep. 30, 2016
BRL
property
May 18, 2016
USD ($)
Mar. 31, 2016
USD ($)
Mar. 12, 2015
USD ($)
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument exercised period                           5 years                      
Minimum payments under capital leases for 2015                                     $ 2,154,000            
Minimum payments under capital leases for 2016                                     1,963,000            
Minimum payments under capital leases for 2017                                     1,624,000            
Minimum payments under capital leases for 2018                                     1,604,000            
Minimum payments under capital leases for 2019                                     1,623,000            
Minimum payments under capital leases thereafter                                     282,000            
Capital leased assets, gross                             $ 17,314,000       18,039,000            
Capital leases, lessee balance sheet, assets by major class, accumulated depreciation                             8,520,000       10,148,000            
Deferred interest charges                             156,000       131,000            
Amortization                           $ 1,628,000 1,765,000 $ 1,296,000                  
Proceeds from issuance of debt                           302,362,000 233,491,000 691,943,000                  
Payments to acquire buildings                       $ 10,000,000                          
Capital lease maturity year                       2022                          
Long-term debt, percentage bearing fixed interest, percentage rate                       5.00%                          
Minimum payments under debt agreements for 2015                                     22,644,000            
Minimum payments under debt agreements for 2016                                     21,378,000            
Debt Agreements Future Minimum Payments Due In Three Years                                     23,934,000            
Minimum payments under debt agreements for 2018                                     34,957,000            
Minimum payments under debt agreements for 2019                                     103,895,000            
Minimum payments under debt agreements thereafter                                     $ 746,048,000            
Debt instrument, face amount                   $ 35,092,000                              
Debt instrument, interest rate, stated percentage                                   4.00% 4.00% 4.00% 4.00% 4.00%      
Payment of tender offer premium           $ 31,530,000                                      
Underwriting fees and other expense capitalized           10,313,000                                      
Loss from debt extinguishment                           $ 0 0 $ 38,890,000                  
Write off of deferred debt issuance cost           6,574,000                                      
Prepaid interest on defeased note on extinguishment of debt           786,000                                      
Maximum percentage of equity interest of subsidiaries borrowings guaranteed         65.00%                                        
Line of credit facility, amount outstanding                                     $ 3,888 CAD 5,090          
Debt instrument, basis spread on variable rate                     1.30%                            
Outstanding debt                             843,569,000       936,558,000            
Long-term debt, gross                             $ 861,199,000       952,856,000            
Amount of line note available to purchase common stock in open market                   $ 10,908,000                              
Stock issued during period, shares, ESOP | shares                               1,591,117                  
Stock issued during period, value, ESOP                               $ 20,000,000                  
ESOP, weighted average purchase price of shares purchased (in Dollars per share) | $ / shares                               $ 12.57                  
Debt instrument, interest rate during period                           6.00% 5.46%                    
Revolver due 2019 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, amount outstanding                                     0            
Line of credit facility, remaining borrowing capacity                                     333,725,000            
Letter Of Credit Subfacility [Member] | Revolver due 2019 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, current borrowing capacity         $ 50,000                                        
Line of credit facility, amount outstanding                                     $ 16,275,000            
Multicurrency Subfacility [Member] | Revolver due 2019 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, current borrowing capacity         50,000,000                                        
Margin Rate [Member] | Revolver due 2019 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, interest rate during period                           1.25%                      
LIBOR Rate [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, interest rate during period                           2.25%                      
Convert. debt due 2017 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, face amount             $ 100,000,000                                    
Debt instrument, interest rate, stated percentage             4.00%                                    
Debt instrument, convertible, conversion ratio                           70.1632                      
Debt conversion, converted instrument, amount                           $ 1,000                      
Debt instrument, convertible, conversion price (in Dollars per share) | $ / shares                                     $ 14.25            
Debt instrument, convertible, threshold percentage of stock price trigger             1.00%                                    
Debt instrument, convertible, if-converted value in excess of principal                           $ 15,720,000 $ 15,720,000                    
Convert. debt due 2017 [Member] | Level 1 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Notes payable, fair value disclosure                                     $ 121,563,000            
Revolving Facility, June 2017 [Member] | Revolving Credit Facility [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, amount outstanding                                   AUD 7,000,000 5,372,000            
Line of Credit Facility, Maximum Borrowing Capacity | AUD     AUD 10,000,000                                            
Capital lease - real estate [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Proceeds from issuance of debt                       $ 14,290,000                          
Outstanding debt                             7,368,000 [1]       6,316,000            
Long-term debt, gross                             $ 7,524,000 [1]       $ 6,447,000 [2]            
Debt instrument, interest rate during period [1]                           5.50% 5.30% 5.30%                  
Debt instrument, interest rate at period end                             5.00% [1]     5.00% [2] 5.00% [2] 5.00% [2] 5.00% [2] 5.00% [2]      
Senior notes [Member] | Level 1 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Notes payable, fair value disclosure                                     $ 725,000,000            
Senior notes [Member] | Senior Notes due 2022, May 2016 Add-On Issuance [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, face amount                                             $ 125,000,000    
Debt Instrument, Issuance Price, Percentage                                             98.76%    
Debt Issuance Cost                         $ 3,016,000                        
Senior notes [Member] | Senior note due 2022 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, face amount           $ 600,000,000                                      
Debt instrument, interest rate, stated percentage           5.25%                                      
Outstanding debt                                             $ 725,000,000    
Senior notes [Member] | Senior note due 2022 [Member] | Senior notes due 2018 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, face amount           $ 550,000,000                                      
Debt instrument, interest rate, stated percentage           7.125%                                      
Payment of tender offer premium           $ 31,530,000                                      
Debt instrument, periodic payment, interest           16,716,000                                      
Senior Notes Two Thousand Twenty Two [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, face amount           $ 600,000,000                                      
Debt instrument, interest rate, stated percentage           5.25%                                      
Debt Conversion, Original Debt, Amount       $ 125,000,000                                          
Senior notes due 2018 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, interest rate, stated percentage           7.125%                                      
Loss from debt extinguishment           $ 38,890,000                                      
Outstanding debt [3]                             $ 591,736,000                    
Long-term debt, gross [3]                             $ 600,000,000                    
Debt instrument, interest rate during period [3]                               7.40%                  
Debt instrument, interest rate at period end [3]                             5.25%                    
Revolver due 2019 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, current borrowing capacity         $ 350,000                                       $ 250,000,000
Outstanding debt [3]                             $ 32,951,000                    
Long-term debt, gross                             35,000,000 [3]       $ 0 [4]            
Real estate mortgages [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, face amount                             32,280,000                 $ 8,000,000  
Number of secured properties | property                                   4 4 4 4 4      
Debt instrument, maturity date                           Sep. 25, 2025                      
Debt instrument, description of variable rate basis                           LIBOR plus 2.75%                      
Debt instrument, basis spread on variable rate                           1.50%                      
Outstanding debt                             31,810,000 [5]       $ 37,266,000            
Long-term debt, gross                             $ 32,280,000 [5]       37,861,000 [6]            
Debt instrument, interest rate during period [5]                           2.20% 3.80% 3.90%                  
ESOP Loans [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, description of variable rate basis                           The loan bears interest at a) LIBOR plus 2.38% or b) the lender’s prime rate, at Griffon’s option.                      
Debt instrument, basis spread on variable rate                             2.50%                    
Outstanding debt                             $ 36,520,000 [6]       34,150,000            
Long-term debt, gross                             36,744,000 [6]       34,387,000 [1]            
Debt instrument, periodic payment, principal                             $ 655,000                    
Debt instrument, interest rate during period [6]                           3.10% 2.90% 2.80%                  
Revolver due 2013 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, description of variable rate basis                           The revolving credit facility accrues interest at EURIBOR plus 2.20% per annum.                      
Debt instrument, basis spread on variable rate                           1.75%                      
Outstanding debt                                     $ 0            
Proceeds from long-term lines of credit (in Euro)                 € 5,000         $ 5,612,000                      
Term Loan [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Long-term debt, percentage bearing fixed interest, percentage rate                                   2.50% 2.50% 2.50% 2.50% 2.50%      
Outstanding debt                                     $ 11,223,000   € 10,000        
Proceeds from long-term lines of credit (in Euro) | €                 15,000                                
Quarterly installments | €                 € 1,250                                
Non U.S. term loans [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, amount outstanding                                     2,202,000     BRL 7,147      
Outstanding debt                             $ 38,843,000 [2]       33,422,000            
Long-term debt, gross                             39,142,000 [2]       33,669,000 [7]            
Maintains maximum amount of line of credit                                     $ 3,944,000     BRL 12,800      
Non U.S. term loans [Member] | Brazilian CDI [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, interest rate at period end                                   20.13% 20.13% 20.13% 20.13% 20.13%      
Non U.S. lines of credit [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, remaining borrowing capacity                                     $ 7,569,000 CAD 9,910,000          
Outstanding debt                             8,931,000 [2]       11,461,000            
Long-term debt, gross [2]                             $ 8,934,000       $ 11,462,000            
Proceeds from long-term lines of credit (in Euro)                     CAD 15,000,000     $ 11,457                      
Line of credit facility, interest rate description                           The facility accrues interest at LIBOR (USD) or the Bankers Acceptance Rate (CDN) plus 1.3% per annum.                      
Non U.S. lines of credit [Member] | LIBOR Rate [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, interest rate at period end                                   2.13% 2.13% 2.13% 2.13% 2.13%      
Non U.S. lines of credit [Member] | Bankers Acceptance Rate [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Line of credit facility, interest rate at period end                                   2.12% 2.12% 2.12% 2.12% 2.12%      
Medium-term Notes [Member] | Term Loan Due 2019 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, face amount | AUD     AUD 30,000,000                                            
Number of loans refinanced with new debt instrument | loan     2                                            
Line of credit facility, amount outstanding                                   AUD 29,250,000 $ 22,446,000            
Debt instrument, periodic payment, principal | AUD     AUD 750,000                                            
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | AUD     AUD 21,000,000                                            
Subsequent Event [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Stock issued during period, shares, ESOP | shares               548,912                                  
Stock issued during period, value, ESOP               $ 9,213,000                                  
ESOP, weighted average purchase price of shares purchased (in Dollars per share) | $ / shares               $ 16.78                                  
ESOP repurchase obligation amount                                 $ 1,695,000                
Subsequent Event [Member] | Convert. debt due 2017 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, convertible, conversion ratio 70.5867                                                
Debt instrument, convertible, conversion price (in Dollars per share) | $ / shares $ 14.17                                                
Subsequent Event [Member] | ESOP Loans [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, periodic payment, principal   $ 569,000                                              
Bank Bill Swap Bid Rate [Member] | Revolving Facility, June 2017 [Member] | Revolving Credit Facility [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, basis spread on variable rate     2.00%                                            
Line of credit facility, interest rate at period end                                   3.67% 3.67% 3.67% 3.67% 3.67%      
Bank Bill Swap Bid Rate [Member] | Medium-term Notes [Member] | Term Loan Due 2019 [Member]                                                  
NOTES PAYABLE, CAPITALIZED LEASES AND LONG-TERM DEBT (Details) [Line Items]                                                  
Debt instrument, basis spread on variable rate     2.25%                                            
Debt instrument, interest rate at period end                                   4.20% 4.20% 4.20% 4.20% 4.20%      
[1] In October 2006, CBP entered into a capital lease totaling $14,290 for real estate in Troy, Ohio. The lease matures in 2022, bears interest at a fixed rate of 5.0%, is secured by a mortgage on the real estate and is guaranteed by Griff
[2] In September 2015, Clopay Europe GmbH (“Clopay Europe”) entered into a EUR 5,000 ($5,612 as of September 30, 2016) revolving credit facility and a EUR 15,000 term loan. The term loan is payable in twelve quarterly installments of EUR 1,250, bears interest at a fixed rate of 2.5% and matures in September 2018. The revolving facility matures in September 2017, but is renewable upon mutual agreement with the bank. The revolving credit facility accrues interest at EURIBOR plus 1.75% per annum (1.75% at September 30, 2016). The revolver and the term loan are both secured by substantially all of the assets of Clopay Europe and its subsidiaries. Griffon guarantees the revolving facility and term loan. The term loan had an outstanding balance of EUR 10,000 ($11,223 at September 30, 2016) and the revolver had no borrowings outstanding at September 30, 2016. Clopay Europe is required to maintain a certain minimum equity to assets ratio and is subject to a maximum debt leverage ratio (defined as the ratio of total debt to EBITDA). Clopay do Brasil maintains lines of credit of approximately R$12,800 ($3,944 as of September 30, 2016). Interest on borrowings accrues at a rate of Brazilian CDI plus 6.0% (20.13% at September 30, 2016). As of September 30, 2016, there was approximately R$7,147 ($2,202 as of September 30, 2016) borrowed under the lines. PPC guarantees the loan and lines.In November 2012, Garant G.P. (“Garant”) entered into a CAD 15,000 ($11,457 as of September 30, 2016) revolving credit facility. The facility accrues interest at LIBOR (USD) or the Bankers Acceptance Rate (CDN) plus 1.3% per annum (2.13% LIBOR USD and 2.12% Bankers Acceptance Rate CDN as of September 30, 2016). The revolving facility matures in October 2019. Garant is required to maintain a certain minimum equity. As of September 30, 2016, there were CAD 5,090 ($3,888 as of September 30, 2016) borrowed under the revolving credit facility with CAD 9,910 ($7,569 as of September 30, 2016) available for borrowin
[3] On May 18, 2016, in an unregistered offering through a private placement under Rule 144A, Griffon completed the add-on offering of $125,000 principal amount of its 5.25% senior notes due 2022, at 98.76% of par, to Griffon's previous issuance of $600,000 5.25% senior notes due in 2022, at par, which was completed on February 27, 2014 (collectively the “Senior Notes”). As of May 18, 2016, outstanding Senior Notes due totaled $725,000; interest is payable semi-annually on March 1 and September 1. The net proceeds of the add-on offering were used to pay down outstanding borrowings under Griffon's Revolving Credit Facility (the "Credit Agreement"). Proceeds from the $600,000 5.25% senior notes due in 2022 were used to redeem $550,000 of 7.125% senior notes due 2018, to pay a call and tender offer premium of $31,530 and to make interest payments of $16,716, with the balance used to pay a portion of the related transaction fees and expenses. In connection with the issuance of the Senior Notes, all obligations under the $550,000 of 7.125% senior notes due in 2018 were discharged. The Senior Notes are senior unsecured obligations of Griffon guaranteed by certain domestic subsidiaries, and subject to certain covenants, limitations and restrictions. On July 20, 2016 and June 18, 2014, Griffon exchanged all of the $125,000 and $600,000 Senior Notes, respectively, for substantially identical Senior Notes registered under the Securities Act of 1933 via an exchange offer. The fair value of the Senior Notes approximated $725,000 on September 30, 2016 based upon quoted market prices (level 1 inputs).In connection with the issuance and exchange of the $125,000 senior notes, Griffon capitalized $3,016 of underwriting fees and other expenses in the quarter, which will amortize over the term of such notes; Griffon capitalized $10,313 in connection with the previously issued $600,000 senior notes. Furthermore, in connection with the issuance of the previously issued $600,000 senior notes, Griffon recognized a loss on the early extinguishment of debt on the 7.125% senior notes aggregating $38,890, comprised of the $31,530 tender offer premium, the write-off of $6,574 of remaining deferred financing fees and $786 of prepaid interest on defeased notes. (b)On March 22, 2016, Griffon amended its Revolving Credit Facility (“Credit Agreement”) to increase the credit facility from$250,000 to $350,000, extend its maturity from March 13, 2020 to March 22, 2021, and modify certain other provisions of the facility. The facility includes a letter sub-facility with a limit of $50,000 and a multi-currency sub-facility of $50,000. The Credit Agreement provides for same day borrowings of base rate loans. Borrowings under the Credit Agreement may be repaid and re-borrowed at any time, subject to final maturity of the facility or the occurrence or event of default under the Credit Agreement. Interest is payable on borrowings at either a LIBOR or base rate benchmark rate, in each case without a floor, plus an applicable margin, which adjusts based on financial performance. Current margins are 1.25% for base rate loans and 2.25% for LIBOR loans. The Credit Agreement has certain financial maintenance tests including a maximum total leverage ratio, a maximum senior secured leverage ratio and a minimum interest coverage ratio, as well as customary affirmative and negative covenants and events of default. The negative covenants place limits on Griffon's ability to, among other things, incur indebtedness, incur liens, and make restricted payments and investments. Borrowings under the Credit Agreement are guaranteed by Griffon’s material domestic subsidiaries and are secured, on a first priority basis, by substantially all domestic assets of the Company and the guarantors, and a pledge of not greater than 65% of the equity interest in Griffon’s material, first-tier foreign subsidiaries (except that a lien on the assets of Griffon’s material domestic subsidiaries securing a limited amount of the debt under the credit agreement relating to Griffon's Employee Stock Ownership Plan ("ESOP") ranks pari passu with the lien granted on such assets under the Credit Agreement; see footnote (d) below). At September 30, 2016, there were no outstanding borrowings and standby letters of credit were $16,275 under the Credit Agreement; $333,725 was available, subject to certain loan covenants, for borrowing at that date
[4] On December 21, 2009, Griffon issued $100,000 principal of 4% convertible subordinated notes due 2017 (the “2017 Notes”). As of September 30, 2016, the current conversion rate of the 2017 Notes was 70.1632 shares of Griffon’s common stock per $1 principal amount of notes, corresponding to a conversion price of $14.25 per share. Since July 15, 2016, any holder has had the option to convert such holder's notes. Under the terms of the 2017 Notes, Griffon has the right to settle the conversion of the 2017 Notes in cash, stock or a combination of cash and stock. On July 14, 2016, Griffon announced that it will settle, upon conversion, up to $125,000 of the conversion value of the 2017 Notes in cash, with amounts in excess of $125,000, if any, to be settled in shares of Griffon common stock. At both September 30, 2016 and 2015, the 2017 Notes had a capital in excess of par component, net of tax, of $15,720. The fair value of the 2017 Notes approximated $121,563 on September 30, 2016 based upon quoted market prices (level 1 inputs)
[5] In September 2015 and March 2016, Griffon entered into mortgage loans in the amount of $32,280 and $8,000, respectively. The mortgage loans are secured by four properties occupied by Griffon's subsidiaries. The loans mature in September 2025, and April 2018, respectively, are collateralized by the specific properties financed and are guaranteed by Griffon. The loans bear interest at a rate of LIBOR plus 1.50%.
[6] In August 2016, Griffon’s ESOP entered into an agreement that refinanced the existing ESOP loan into a new Term Loan in the amount of $35,092 (the "Agreement"). The Agreement also provided for a Line Note with $10,908 available to purchase shares of Griffon common stock in the open market. The availability period for the Line Note runs through August 2017 at which point the outstanding balance under the Line Note will be combined with the Term Loan. The Term Loan and Line Note bear interest at LIBOR plus 2.50%. The Term Loan requires quarterly principal payments of $655 through September 30, 2016 and $569 thereafter, with a balloon payment due at maturity on March 22, 2020. The Term Loan is secured by shares purchased with the proceeds of the loan and with a lien on a specific amount of Griffon assets (which lien ranks pari passu with the lien granted on such assets under the Credit Agreement) and is guaranteed by Griffon. As of September 30, 2016, $34,150, net of issuance costs, was outstanding under the Term Loan. Subsequent to September 30, 2016 and through November 11, 2016, Griffon's ESOP purchased 548,912 shares of common stock for a total of $9,213 or $16.78 per share. The remaining amount available on the authorization is $1,695.
[7] n July 2016, Griffon Australia and its Australian subsidiaries entered into an AUD 30,000 term loan and an AUD 10,000 revolver. The term loan refinanced two existing term loans and the revolver replaced two existing lines. The term loan requires quarterly principal payments of AUD 750 plus interest with a balloon payment of AUD 21,000 due upon maturity in June 2019, and accrues interest at Bank Bill Swap Bid Rate “BBSY” plus 2.25% per annum (4.20% at September 30, 2016). As of September 30, 2016, the term had an outstanding balance of AUD 29,250 ($22,446 as of September 30, 2016) on the term loans, net of issuance costs. The revolving facility matures in June 2017 but is renewable upon mutual agreement with the bank, and accrues interest at BBSY plus 2.0% per annum (3.67% at September 30, 2016). The revolver had an outstanding balance of AUD 7,000 ($5,372 at September 30, 2016). The revolver and the term loan are both secured by substantially all of the assets of Griffon Australia and its subsidiaries. Griffon guarantees the term loan. Griffon Australia is required to maintain a certain minimum equity level and is subject to a maximum leverage ratio and a minimum fixed charges cover ratio.(h)