Intermedix - Laserfiche WebLink

Home Browse Search

INTERMEDIX HOLDINGS INC. AND SUBSIDIARIES i Notes to Consolidated Financial Statements December 31, 2010 (10) Long -Term Debt and Capitalized Lease Obligations Long -term debt and capitalized lease obligations consisted of the following at December 31, 2010 (in thousands): Revolving credit facility Senior credit facility — term loans Subordinated loans Capitalized lease obligations Total debt Less amounts payable within one year $ 14,500 194,513 85,000 241 294,254 (2,191) 292,063 Aggregate annual maturities of long -term debt were as follows at December 31, 2010 (in thousands): Year ending December 31: 2011 $ 2,191 2012 1,950 2013 1,950 2014 1,950 2015 16,450 Thereafter 269,763 $ 294,254 Senior Financing Pursuant to the Merger Overview On August 23, 2010, in connection with the Merger, the Company and each of its subsidiaries (each a Guarantor and, collectively, the Guarantors), entered into a $235.0 million Credit Agreement (the Senior Credit Facility) and a Senior Subordinated Loan Agreement (the Subordinated Loan Agreement), which collectively are herein referred to as the Senior Financing. Borrowings made under the Senior Financing were used to fund a portion of the purchase price of the Merger which included the retirement of the Predecessor's debt, as well as pay fees and -expenses incurred in connection with the Merger. On March 14, 2011, the Company refinanced the Senior Credit Facility to, among other things, reduce pricing under the Senior Credit Facility, provide greater latitude in the Company's financial covenants and eliminate the excess cash flow mandatory prepayment provision. See discussion below under "Refinancing of Senior Credit Facility in March 2011." Senior Credit Facility The Senior Credit Facility consists of (i) a $195.0 million term loan facility (the Term Loans) maturing August 23, 2016 of which $194.5 million was outstanding at December 31, 2010 (ii) a $40.0 million revolving credit facility (the Revolving Credit Facility) which expires August 23, 2015 under which 20 (Continued)