Securitizations and Term Debt Financings

3 Months Ended

Mar. 31, 2013

Debt Disclosure [Abstract]

Secured and Unsecured Debt Financings

Secured and Unsecured Debt Financings

The outstanding amounts of our secured and unsecured term debt financings were as follows:

	At December 31, 2012		At March 31, 2013
Debt Obligation	Outstanding Borrowings		Outstanding Borrowings		Interest Rate(1)	Final Stated Maturity(2)
Secured Debt Financings:
Securitization No. 1	$	309,505	$	276,880	0.47%	06/20/31
Securitization No. 2	772,863		739,232		0.51%	06/14/37
ECA Term Financings	652,916		639,866		1.99% to 3.96%	12/3/21 to 11/30//24
Bank Financings	112,750		109,375		4.22% to 4.57%	9/15/15 to 10/26/17
Total secured debt financings	1,848,034		1,765,353
Unsecured Debt Financings:
Senior Notes due 2017	500,000		500,000		6.75%	04/15/17
Senior Notes due 2018	450,642		450,613		9.75%	08/01/18
Senior Notes due 2019	500,000		500,000		6.250%	12/01/19
Senior Notes due 2020	300,000		300,000		7.625%	04/15/20
2012 Revolving Credit Facility	—		—		N/A	12/19/15
Total unsecured debt financings	1,750,642		1,750,613
Total secured and unsecured debt financings	$	3,598,676	$	3,515,966

(1) Reflects the floating rate in effect at the applicable reset date plus the margin for Securitization No. 1, Securitization No. 2 and one of our ECA Term Financings. All other financings have a fixed rate.

(2) For Securitizations No. 1 and No. 2, all cash flows available after expenses and interest are applied to debt amortization.

The following securitizations include liquidity facility commitments described in the table below: 

		Available Liquidity
Facility	Liquidity Facility Provider	December 31, 2012		March 31, 2013		Unused Fee	Interest Rate on any Advances
Securitization No. 1	Crédit Agricole Corporate and Investment Bank	$	42,000	$	42,000	0.45%	1M Libor + 1.00
Securitization No. 2	HSH Nordbank AG	65,000		65,000		0.50%	1M Libor + 0.75

As of March 31, 2013, we are in compliance with all applicable covenants in all of our financings.