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Debt
6 Months Ended
Jun. 30, 2013
Debt  
Debt

Note 5—Debt

        Debt consisted of the following (in thousands):

 
  June 30,
2013
  December 31,
2012
  Weighted Average
Stated Interest Rate
At June 30,
2013
  Final
Maturity
 

2011 term loan A

  $ 656,566   $ 756,974     4.78 %   2016  

2011 term loan B

    978,178     1,127,770     5.75 %   2018  

Revolving credit facility

            N/A     2016  

9.875% senior notes(1)

    496,656     496,510     9.88 %   2020  

8.50% senior notes

    450,000         8.50 %   2021  

Other(2)

    24,700     34,911     Various     Various  
                       

Total debt

    2,606,100     2,416,165              

Less: current debt(2)

    (14,919 )   (18,793 )            
                       

Total long-term debt

  $ 2,591,181   $ 2,397,372              
                       

(1)
The 9.875% senior notes ($500.0 million face value) were issued at a discount at an initial price of 99.302%.

(2)
This balance includes capital lease obligations and an equipment financing agreement.
  • 8.50% Senior Notes

        In March 2013, the Company issued $450.0 million aggregate principal amount of 8.50% senior notes due April 15, 2021 (the "2021 Notes"). These Notes are unconditionally guaranteed, jointly and severally, on an unsecured basis, by each of our current and future wholly-owned U.S. domestic restricted subsidiaries, exclusive of the West Virginia entities as they are owned by our U.K. Operations. Interest on the 2021 Notes is payable semi-annually in arrears on April 15 and October 15, commencing on October 15, 2013. At any time prior to April 15, 2016, the Company may redeem up to 35% of the aggregate principal amount of the 2021 Notes at a redemption price of 108.50% of the principal amount. The Company may redeem the 2021 Notes, in whole or in part, after April 15, 2016 and prior to April 15, 2017, at a redemption price equal to 100% of the aggregate principal amount of the 2021 Notes plus a "make-whole" premium and accrued and unpaid interest. The "make-whole" premium relates to the discount granted when the Company issued the bonds. The Company may redeem the 2021 Notes, in whole or in part at redemption prices equal to 104.25% for the twelve months commencing April 15, 2017, 102.125% for the twelve months commencing April 15, 2018 and 100% beginning on April 15, 2019, in each case plus accrued and unpaid interest.

        Upon the occurrence of a change of control, unless the Company has exercised its right to redeem the 2021 Notes, the Company will be required to offer to repurchase each holder's 2021 Notes at a price equal to 101% of the aggregate principal amount, plus accrued and unpaid interest.

        See Note 14 regarding subsequent events related to long-term debt.