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Long-Term Debt and Other Borrowings
6 Months Ended
Jun. 30, 2013
Notes to Financial Statements [Abstract]  
Long-Term Debt and Other Borrowings
NOTE C – LONG-TERM DEBT AND OTHER BORROWINGS
 
Long-term debt consists of the following:
 
 
June 30,
2013
 
December 31,
2012
 
 
(In Thousands)
 
Scheduled Maturity
 
 
 
Bank revolving line of credit facility
October 29, 2015
$
19,463

 
$
51,218

Compressco Partners' bank credit facility
June 24, 2015
21,494

 
10,050

5.90% Senior Notes, Series 2006-A
April 30, 2016
90,000

 
90,000

6.30% Senior Notes, Series 2008-A
April 30, 2013

 
35,000

6.56% Senior Notes, Series 2008-B
April 30, 2015
90,000

 
90,000

5.09% Senior Notes, Series 2010-A
December 15, 2017
65,000

 
65,000

5.67% Senior Notes, Series 2010-B
December 15, 2020
25,000

 
25,000

4.00% Senior Notes, Series 2013
April 29, 2020
35,000

 

European bank credit facility
 

 

Other
 
63

 
441

Total debt
 
346,020

 
366,709

Less current portion
 
(63
)
 
(35,441
)
Total long-term debt
 
$
345,957

 
$
331,268


On April 29, 2013, we issued $35.0 million in aggregate principal amount of Series 2013 Senior Notes pursuant to a Note Purchase Agreement. The Series 2013 Senior Notes bear interest at the fixed rate of 4.0% and mature on April 29, 2020. On April 30, 2013, we utilized the proceeds from the issuance to repay the 2008-A Senior Notes. The Series 2013 Senior Notes were sold in the United States to accredited investors pursuant to an exemption from the Securities Act of 1933. Interest on the Series 2013 Senior Notes is due semiannually on April 29 and October 29 of each year. Similar to each other series of our outstanding senior notes, the Series 2013 Senior Notes contain customary covenants and restrictions and require us to maintain certain financial ratios, including a minimum level of net worth and a ratio between our long-term debt balance and a defined measure of operating cash flow over a twelve month period.
On May 14, 2013, Compressco Partners, L.P. (Compressco Partners) entered into an amendment of its bank credit facility whereby, among other modifications, the maximum credit commitment under the credit facility was increased from $20.0 million to $40.0 million.