| Summary of Company's Current Debt Portfolio |
The following table illustrates our debt portfolio as of
September 30, 2013 and December 31, 2012:
|
|
|
|
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|
|
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| |
|
September 30,
2013 |
|
|
December 31,
2012 |
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| |
|
(Dollars in
Thousands) |
|
|
7.50% Senior Notes, due August 2020
|
|
$ |
225,000 |
|
|
$ |
— |
|
|
9.125% Senior Notes, due April 2018
|
|
|
428,968 |
|
|
|
429,205 |
|
|
Term Note, due December 2017
|
|
|
— |
|
|
|
50,000 |
|
|
|
|
|
|
|
|
|
|
|
Total debt
|
|
|
653,968 |
|
|
|
479,205 |
|
|
|
|
|
|
|
|
|
|
|
Less current portion
|
|
|
— |
|
|
|
10,000 |
|
|
|
|
|
|
|
|
|
|
|
Total long-term debt
|
|
$ |
653,968 |
|
|
$ |
469,205 |
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|
|
|
|
|
|
|
|
|
|
The following table illustrates the Company’s current debt
portfolio as of December 31, 2012 and December 31,
2011:
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|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2012 |
|
|
2011 |
|
| |
|
(Dollars in
Thousands) |
|
|
Senior Notes — payable in April 2018; fixed interest at
9.125% payable semi-annually in April and October (Issued
March 22, 2010).
|
|
$ |
300,000 |
|
|
$ |
300,000 |
|
|
Senior Notes — payable in April 2018; fixed interest at
9.125% payable semi-annually in April and October (Issued
April 25, 2012).
|
|
|
129,205 |
|
|
|
— |
|
|
$125.0 million aggregate principal Convertible Senior Notes —
payable in July 2012; interest at 2.125% payable semi-annually in
January and July, net of unamortized discount of $3,277 at
December 31, 2011.
|
|
|
— |
|
|
|
121,723 |
|
|
Term Note — amortizes $2.5 million per quarter beginning
March 31, 2013 ($6.0 million per quarter prior to
March 31, 2013); interest at prime, plus an applicable margin
or LIBOR, plus an applicable margin. (Effective interest rate of
3.21% and 3.55% at December 31, 2012 and December 31,
2011, respectively)
|
|
|
50,000 |
|
|
|
61,000 |
|
|
Total debt
|
|
|
479,205 |
|
|
|
482,723 |
|
|
|
|
|
|
|
|
|
|
|
Less current portion
|
|
|
10,000 |
|
|
|
145,723 |
|
|
Total long-term debt
|
|
$ |
469,205 |
|
|
$ |
337,000 |
|
|
|
|
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