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LONG-TERM DEBT

12 Months Ended

Dec. 31, 2011

Long-term debt consists of the following:

December 31,		2011		2010
(In millions)

Notes Payable, due 2014	$	0.2	$	0.3
5% Loan Notes, due 2016		9.6		-
5.125% Senior Notes due 2014, net of unamortized discount of $0.1 and $0.1 and including fair value adjustments of $13.1 and $10.1		263.0		260.0
6.875% Senior Notes due 2019, including fair value adjustment of $9.0		309.0		-
6.125% Senior Notes due 2034, net of unamortized discount of $0.3 and $0.3		249.7		249.7
		831.5		510.0
Less current portion		0.1		0.1
	$	831.4	$	509.9

Long-term debt maturities during the next five years amount to $0.1 million in 2012, $0.1 million in 2013, $250.0 million in 2014 and $9.6 million in 2016. All of our notes contain certain covenants, including, among others, restrictions on liens, sale-leaseback transactions and additional secured debt, and pay interest semiannually. The weighted-average interest rate of our long-term debt, excluding the effects of our interest rate swaps, was 6.1% and 5.6% at December 31, 2011 and 2010, respectively.

In March 2011, we issued $300.0 million of 6.875% Senior Notes due 2019 (the "2019 Notes"). Net proceeds were $293.3 million, of which $45.0 million was used to repay amounts then outstanding under the Credit Facility. In connection with the issuance of the 2019 Notes, we entered into three interest rate swap transactions to effectively convert $150 million of the 2019 Notes to variable-rate debt, which we have since terminated. For more information, see "Derivatives."

In connection with the purchase of Kurt Geiger, approximately £6.2 million of the purchase price payable to certain selling shareholders who are senior managers of Kurt Geiger has been rolled over into 5% Loan Notes, which are payable on or before April 16, 2016 and are subject to forfeiture in the event of termination of employment under certain circumstances.