Quarterly report pursuant to Section 13 or 15(d)

DEBT AND CREDIT FACILITIES (Tables)

v2.4.0.6
DEBT AND CREDIT FACILITIES (Tables)
 6 Months Ended
Jun. 30, 2012
Schedule Of Long-Term Debt

($ in Millions)

  

June 30, 2012

  

Debt Instrument

    Type    Annual Effective
Interest Rate		      Final
Maturity		      Total Face
Amount		     Total Debt  

$1.25 Billion Term Loan

    Variable      1.37 %           2016       $ 947.0   (1)      $     947.0  (1) 

$700 Million 4.875% 2021 Senior Notes

    Fixed      4.88 %           2021         700.0          699.4  (2) 

$1.3 Billion Senior Notes:

              

$500 Million 4.80% 2020 Senior Notes

    Fixed      4.80 %           2020         500.0          499.1  (3) 

$800 Million 6.25% 2040 Senior Notes

    Fixed      6.25 %           2040         800.0          790.2  (4) 

$400 Million 5.90% 2020 Senior Notes

    Fixed      5.90 %           2020         400.0          398.1  (5) 

$325 Million Private Placement Senior Notes:

              

Series 2008A - Tranche A

    Fixed      6.31 %           2013         270.0          270.0     

Series 2008A - Tranche B

    Fixed      6.59 %           2015         55.0          55.0     

$1.75 Billion Credit Facility:

              

Revolving Loan

    Variable      1.20 %           2016         1,750.0          325.0   (6) 
           

 

 

    

 

 

  

Total debt

               $     5,422.0          $     3,983.8     
           

 

 

    

Less current portion

                 369.7     
             

 

 

  

Long-term debt

                 $     3,614.1     
             

 

 

  

 

December 31, 2011

  

Debt Instrument

    Type    Annual Effective
Interest Rate		     Final
Maturity		      Total Face
Amount		     Total Debt  

$1.25 Billion Term Loan

    Variable      1.40  %        2016         $ 972.0  (1)      $     972.0  (1) 

$700 Million 4.875% 2021 Senior Notes

    Fixed      4.88  %        2021         700.0          699.3  (2) 

$1.3 Billion Senior Notes:

             

$500 Million 4.80% 2020 Senior Notes

    Fixed      4.80  %        2020         500.0          499.1  (3) 

$800 Million 6.25% 2040 Senior Notes

    Fixed      6.25  %        2040         800.0          790.1  (4) 

$400 Million 5.90% 2020 Senior Notes

    Fixed      5.90  %        2020         400.0          398.0  (5) 

$325 Million Private Placement Senior Notes:

             

Series 2008A - Tranche A

    Fixed      6.31  %        2013         270.0          270.0     

Series 2008A - Tranche B

    Fixed      6.59  %        2015         55.0          55.0     

$1.75 Billion Credit Facility:

             

Revolving Loan

    Variable      -          2016         1,750.0          -   (6) 
          

 

 

    

 

 

  

Total

              $     5,447.0          $     3,683.5     
          

 

 

    

Less current portion

                74.8     
            

 

 

  

Long-term debt

                $     3,608.7     
            

 

 

  

(1) As of June 30, 2012 and December 31, 2011, $303.0 million and $278.0 million, respectively, had been paid down on the original $1.25 billion term loan and, of the remaining term loan, $99.7 million and $74.8 million, respectively, was classified as Current portion of debt. The current classification is based upon the principal payment terms of the arrangement requiring principal payments on each three-month anniversary following the funding of the term loan.

(2) As of June 30, 2012 and December 31, 2011, the $700 million 4.88 percent senior notes were recorded at a par value of $700 million less unamortized discounts of $0.6 million and $0.7 million, respectively, based on an imputed interest rate of 4.89 percent.

(3) As of June 30, 2012 and December 31, 2011, the $500 million 4.80 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $0.9 million and $0.9 million, respectively, based on an imputed interest rate of 4.83 percent.

(4) As of June 30, 2012 and December 31, 2011, the $800 million 6.25 percent senior notes were recorded at par value of $800 million less unamortized discounts of $9.8 million and $9.9 million, respectively, based on an imputed interest rate of 6.38 percent.

 

(5) As of June 30, 2012 and December 31, 2011, the $400 million 5.90 percent senior notes were recorded at a par value of $400 million less unamortized discounts of $1.9 million and $2.0 million, respectively, based on an imputed interest rate of 5.98 percent.

(6) As of June 30, 2012 and December 31, 2011, $325.0 million and no revolving loans were drawn under the credit facility, respectively, and the principal amount of letter of credit obligations totaled $23.1 million and $23.5 million for each period, respectively, thereby reducing available borrowing capacity to $1.4 billion and $1.73 billion for each period, respectively.