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Debt
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Debt
Note 6. Debt
Revolving Credit Facility We maintain a $350 million revolving credit facility to fund working capital and to finance acquisitions and other capital expenditures. The revolving credit facility matures on September 20, 2021. There were no amounts outstanding under the revolving credit facility as of December 31, 2016. As of June 30, 2017, $190 million was outstanding under our revolving credit facility.
During 2017, borrowings under our revolving credit facility were used to fund our construction activity, a portion of the Advantage acquisition and a portion of the cash consideration for the Contributed Assets. All other borrowings under our revolving credit facility were for general partnership purposes.
Borrowings under the revolving credit facility bear interest at a rate equal to an applicable margin plus, at our option, either (a) in the case of base rate borrowings, a rate equal to the highest of (1) the prime rate, (2) the greater of the federal funds rate or the overnight bank funding rate, plus 0.5% and (3) the LIBOR for an interest period of one month plus 1.00%; or (b) in the case of LIBOR borrowings, the offered rate per annum for deposits of dollars for the applicable interest period.
Interest was incurred on the revolving credit facility at a weighted average annual interest rate of 2.32% during the six months ended June 30, 2017. The unused portion of the revolving credit facility is subject to a commitment fee. Commitment fees began to accrue beginning on the date we entered into the revolving credit facility. As of December 31, 2016 and June 30, 2017, the commitment fee rate was 0.2%. Unamortized debt issuance costs totaled $1.8 million and $1.6 million as of December 31, 2016 and June 30, 2017, respectively.
The revolving credit facility requires us to comply with certain financial covenants as of the end of each fiscal quarter. The Partnership was in compliance with such covenants as of June 30, 2017. Certain lenders that are a party to the credit agreement have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending or commercial banking services for us for which they have received, and may in the future receive, customary compensation and reimbursement of expenses.