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Debt (Tables)
 6 Months Ended
Jun. 30, 2011
Borrowings

The following table provides information regarding the Company’s borrowings:

 

 

 

 

 

 

 

 

 

 

 

Description:

 

Amount
Outstanding
June 30, 2011
(In thousands)

 

Contractual
Annualized
Interest Rate
June 30, 2011 (2)

 

Amount
Outstanding
December 31, 2010
(In thousands)

 

 

 

 

 

Term loans

 

$

190,000

 

 

2.25

%

$

200,000

 

Revolver (1)

 

 

30,000

 

 

2.21

%

 

20,156

 

 

 

 

 

 

 

 

Total

 

$

220,000

 

 

 

 

$

220,156

 

 

 

 

 

 

 

 

 

 

 

 

(1)

The Company had $367.0 million of available borrowing capacity on the revolver (not including the expansion feature) as of June 30, 2011.

 

 

(2)

The term loan rate consisted of a 0.25% Eurodollar base rate plus a margin of 2.00%, while the revolver rate consisted of a weighted-average Eurodollar base rate of 0.21% plus a margin of 2.00%. The Company has an interest rate swap contract which converts the floating Eurodollar base rate to a fixed base rate of 2.26% on $200.0 million of borrowings (see below). Including the impact of the swap, the annualized effective interest rate as of June 30, 2011 on $200.0 million of these borrowings was 4.26%.