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Long-term Debt (Tables)
12 Months Ended
Dec. 31, 2012
Long-term Debt  
Schedule of carrying value and fair value of long-term debt by type

 

 

 

Successor

 

Company

 

 

December 31, 2012

 

December 31, 2011

 

 

 

Carrying

 

Fair

 

Carrying

 

Fair

 

(dollars in thousands)

 

Value

 

Value

 

Value

 

Value

 

 

 

 

 

 

 

 

 

 

 

Senior debt

 

$

12,282,770

 

$

12,702,712

 

$

12,713,870

 

$

11,579,337

 

Junior subordinated debt

 

171,546

 

210,000

 

171,522

 

140,000

 

Total

 

$

12,454,316

 

$

12,912,712

 

$

12,885,392

 

$

11,719,337

 

Schedule of weighted average interest rates on long-term debt by type

 

 

 

 

 

 

Junior

 

 

 

 

Senior

 

Subordinated

 

 

 

 

Debt

 

Debt

 

Total

 

 

 

 

 

 

 

Successor Company

 

 

 

 

 

 

Year Ended December 31, 2012

 

8.09  %

 

12.26  %

 

8.25  %

Year Ended December 31, 2011

 

8.68  %

 

12.26  %

 

8.83  %

One Month Ended December 31, 2010

 

9.27  %

 

12.26  %

 

9.41  %

 

 

 

 

 

 

 

Predecessor Company

 

 

 

 

 

 

Eleven Months Ended November 30, 2010

 

5.97  %

 

6.17  %

 

6.10  %

 

 

 

 

 

 

 

Successor Company

 

 

 

 

 

 

At December 31, 2012

 

5.52  %

 

12.26  %

 

7.54  %

At December 31, 2011

 

8.33  %

 

12.26  %

 

8.49  %

Schedule of principal maturities of long-term debt by type of debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Junior

 

 

 

 

 

 

Medium

 

Euro

 

Secured

 

 

 

Subordinated

 

 

 

 

Retail

 

Term

 

Denominated

 

Term

 

 

 

Debt

 

 

(dollars in thousands)

 

Notes

 

Notes

 

Notes (a)

 

Loan (b) (c)

 

Securitizations

 

(Hybrid Debt)

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4.25% -

 

5.40% -

 

3.25% -

 

 

 

1.57% -

 

 

 

 

Interest rates (d)

 

9.00%

 

6.90%

 

4.13%

 

5.50%

 

6.00%

 

6.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First quarter 2013

 

$

 41,742

 

$

 -

 

$

 431,630

 

$

 -

 

$

 -

 

$

 -

 

$

 473,372

Second quarter 2013

 

69,983

 

469,020

 

-

 

-

 

-

 

-

 

539,003

Third quarter 2013

 

42,551

 

-

 

-

 

-

 

-

 

-

 

42,551

Fourth quarter 2013

 

2,903

 

-

 

416,636

 

-

 

-

 

-

 

419,539

2013

 

157,179

 

469,020

 

848,266

 

-

 

-

 

-

 

1,474,465

2014

 

357,976

 

-

 

-

 

-

 

-

 

-

 

357,976

2015

 

47,679

 

750,000

 

-

 

-

 

-

 

-

 

797,679

2016

 

-

 

375,000

 

-

 

-

 

-

 

-

 

375,000

2017-2067

 

-

 

3,300,000

 

-

 

3,750,000

 

-

 

350,000

 

7,400,000

Securitizations (e)

 

-

 

-

 

-

 

-

 

2,969,132

 

-

 

2,969,132

Total principal maturities

 

$

 562,834

 

$

 4,894,020

 

$

 848,266

 

$

 3,750,000

 

$

 2,969,132

 

$

 350,000

 

$

 13,374,252

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total carrying amount

 

$

 522,416

 

$

 4,162,674

 

$

 854,093

 

$

 3,765,249

 

$

 2,978,338

 

$

 171,546

 

$

 12,454,316

_________________

(a)                 Euro denominated notes include €345.2 million notes and €323.4 million notes, shown here at the U.S. dollar equivalent at time of issuance.

 

(b)                Issued by wholly-owned Company subsidiaries.

 

(c)                 Guaranteed by SLFC and by the Subsidiary Guarantors.

 

(d)                The interest rates shown are the range of contractual rates in effect at December 31, 2012, which exclude the effects of the associated derivative instruments used in hedge accounting relationships, if applicable.

 

(e)                 Securitizations are not included in above maturities by period due to their variable monthly repayments.