Interest Expense

3 Months Ended

Mar. 31, 2015

Interest and Debt Expense [Abstract]

Interest Expense

Interest Expense

The following table presents an analysis of interest expense: 

	For the Three Months Ended
	March 31,
	2014		2015
	(Dollars in thousands)
Interest incurred on debt	$	5,322	$	5,171
Amortization of discount on Senior Subordinated Notes	2,997		3,207
Amortization of debt issuance costs	633		543
Supply Chain Financing mark-up	47		—
Total interest expense	$	8,999	$	8,921

Interest Rates

The Revolving Facility had an effective interest rate of 2.17% and 2.44% as of December 31, 2014 and March 31, 2015, respectively. The Senior Subordinated Notes have an implied interest rate of 7.00%. The Senior Notes have a fixed interest rate of 6.375%.