Subsequent Events

6 Months Ended

Jun. 30, 2014

Subsequent Events

Subsequent Events

Note 10. Subsequent Events

On July 31, 2014 certain of our subsidiaries entered into an amendment to our credit agreement providing for a $225.0 million senior secured term loan B facility (the “Amended Term Loan Facility”) which matures on July 30, 2020.  Pricing on the New Term Loan Facility was set at LIBOR plus 400 basis points (with a LIBOR floor of 1.00%), resulting in an effective interest rate 5.00%, and 0.5% OID. The proceeds of the loan were used to repay in full the Term Loan Facility, to pay fees and expenses associated with the financing, and for general corporate purposes including potential future acquisitions. The Amended Term Loan Facility principal payments are payable on quarterly due dates commencing September 30, 2014 and a final installment on July 30, 2020.  Estimated transaction costs total approximately $2.5 million.  We are currently evaluating the accounting for the debt refinancing and related transaction costs.