Quarterly report pursuant to Section 13 or 15(d)

DEBT AND CREDIT FACILITIES (Tables)

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betfred sportsbook review
 6 Months Ended
Jun. 30, 2012
betfred sportsbook reviewSchedule 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, betfred sportsbook2011, 5.0 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.