NOTE 8. LONG-TERM DEBT / INTEREST EXPENSE

Long-term debt consisted of the following:

	December 31,

	2013			2012
	(in thousands)
2011 Senior Credit Facility	$	1,345,987		$	1,096,112
Other		1,112			2,450


Total Debt	$	1,347,099		$	1,098,562
Less: current maturities		(5,443	)		(3,817	)


Long-term Debt	$	1,341,656		$	1,094,745

At December 31, 2013, the Company's total debt principal maturities are as follows:

Years Ending December 31,	Senior Credit Facility(a)		Other		Total

	(in thousands)
2014	$	4,550	$	893	$	5,443
2015		4,550		219		4,769
2016		4,550		—		4,550
2017		4,550		—		4,550
2018		4,550		—		4,550
2019		1,327,250		—		1,327,250


Total	$	1,350,000	$	1,112	$	1,351,112

(a): The Senior Credit Facility includes the original discount of $4.0 million.

The Company's net interest expense is as follows:

	For the year ended December 31,

	2013			2012			2011
	(in thousands)
Senior Credit Facility:
Term Loan		42,020			41,216			38,356
Revolver		680			533			598
Early extinguishment of debt		5,712			1,343			19,855
Deferred financing fees amortization		2,087			3,920			2,412
Mortgage and other interest expense		159			168			766
OID amortization		2,625			404			344
Interest income		(254	)		(28	)		(1,110	)
Senior Notes		—			—			4,808
Senior Subordinated Notes		—			—			3,055
Termination of interest rate swaps		—			—			5,819


Interest expense, net		53,029			47,556			74,903

The following is a summary of the Company's debt:

Senior Credit Facility. In March 2011, Centers entered into the Senior Credit Facility, consisting of the Term Loan Facility and the Revolving Credit Facility. As of December 31, 2013, the Company believes that it is in compliance with all covenants under the Senior Credit Facility. As of December 31, 2013, $1.1 million of the Revolving Credit Facility was pledged to secure letters of credit. The Senior Credit Facility permits the Company to prepay a portion or all of the outstanding balance without incurring penalties (except London Interbank Offering Rate ("LIBOR") breakage costs). GNC Corporation, the Company's indirect wholly owned subsidiary ("GNC Corporation"), and Centers' existing and future domestic subsidiaries have guaranteed Centers' obligations under the Senior Credit Facility. In addition, the Senior Credit Facility is collateralized by first priority pledges (subject to permitted liens) of substantially all of Centers' assets, including its equity interests and the equity interests of its domestic subsidiaries.

On August 1, 2012, Centers amended the Senior Credit Facility to, among other amendments, provide additional commitments of $200 million for incremental term loans.

In October 2012, Centers entered into an amendment to the Senior Credit Facility that included changes to ABR, LIBOR, and Applicable Margin rates. Specifically, as amended, the facility allowed the Company to borrow at a rate per annum equal to (A) the sum of (i) the greatest of (a) the prime rate (as publicly announced by JPMorgan Chase Bank, N.A. as its prime rate in effect), (b) the federal funds effective rate plus 0.50%, (c) one month adjusted LIBOR plus 1.0% and (d) 2.25% with respect to Revolving Credit Facility and 2.00% with respect to Term Loan Facility plus (ii) the applicable margin of 2.0% with respect to Revolving Credit Facility and 1.75% with respect to Term Loan Facility or (B) the sum of (i) the greater of (a) adjusted LIBOR or (b) 1.25% with respect to Revolving Credit Facility and 1.00% with respect to Term Loan Facility plus (ii) an applicable margin of 3.0% for amounts borrowed under the Revolver Credit Facility and 2.75% with respect to amounts outstanding under the Term Loan Facility. As of December 31, 2012, the Company's interest rate on its Senior Credit Facility was 3.75%, as a result of the interest rate minimum requirement as described above.

During the fourth quarter of 2013, Centers amended and restated the Senior Credit Facility to, among other amendments, increase the size of the Term Loan Facility by $252.5 million, increase the amount available for borrowings under the Revolving Credit Facility from $80 million to $130 million, extend the Revolving Credit Facility maturity date to March 2017, and extend the maturity of the Term Loan Facility to March 2019. The amendment also included changes to ABR, LIBOR, and Applicable Margin rates. Specifically, the Company may, at its option, borrow at a rate per annum equal to (A) the sum of (i) the greatest of (a) the prime rate (as publicly announced by JPMorgan Chase Bank, N.A. as its prime rate in effect), (b) the federal funds effective rate plus 0.50%, (c) one month adjusted LIBOR plus 1.0% and (d) 1.75% with respect to Term Loan Facility plus (ii) the applicable margin of 1.25% with respect to borrowings under the Revolving Credit Facility and 1.5% with respect to amounts outstanding under the Term Loan Facility or (B) the sum of (i) the greater of (a) adjusted LIBOR or (b) 0.75% with respect to amounts outstanding under the Term Loan Facility plus (ii) the applicable margin of 2.25% with respect to borrowings under the Revolving Credit Facility and 2.5% with respect to amounts outstanding under the Term Loan Facility. As of December 31, 2013, the Company's current interest rate on its Senior Credit Facility is 3.25%, as a result of the interest rate minimum requirement as described above. As of December 31, 2013 and 2012, the outstanding letter of credit fee was 2.50% and 3.00%, respectively, and the commitment fee on the undrawn portion of the Revolving Credit Facility was 0.5% at both December 31, 2013 and 2012.

The Senior Credit Facility contains customary covenants, including incurrence covenants and certain other limitations on the ability of GNC Corporation, Centers, and Centers' subsidiaries to, among other things, make optional payments in respect of other debt instruments, pay dividends or other payments on capital stock, and enter into arrangements that restrict their ability to pay dividends or grant liens.

In connection with the Refinancing in 2011, Centers used a portion of the net proceeds from the Term Loan Facility to refinance its former indebtedness, including all outstanding indebtedness under the Old Senior Credit Facility, the Senior Notes and the Senior Subordinated Notes.