A summary of debt follows (in thousands):



	March 31, 2013			December 31, 2012
Revolving credit facility	$	—		$	—
Senior term loan, due 2017	414,375			419,688
7.75% senior subordinated notes, due 2020	550,000			550,000
3.75% convertible senior subordinated notes, due 2025	318,054			318,054
4.00% junior subordinated convertible debentures, due 2033	345,000			345,000
3.25% convertible senior debentures, due 2035	427,500			427,500
3.75% convertible senior subordinated notes, due 2042	390,000			390,000
Capitalized lease and other debt obligations	23,225			23,685
Subtotal	2,468,154			2,473,927
Add interest rate swap agreements	39,961			46,090
(Subtract) unamortized debt discount	(456,205		)	(462,274		)
(Subtract) current portion of debt	(233,919		)	(27,713		)
Total long-term debt, net	$	1,817,991		$	2,030,030

3.75% Convertible Senior Subordinated Notes due 2025

Omnicare has outstanding $318 million aggregate principal amount of 3.75% convertible senior subordinated notes due 2025 (the “2025 Notes”). The holders may convert their 2025 Notes, prior to December 15, 2023, on any date during any calendar quarter beginning after March 31, 2011 (and only during such calendar quarter) if the closing sale price of the Company's common stock was more than 130% of the then current conversion price for at least 20 trading days in the period of the 30 consecutive trading days ending on, and including, the last trading day of the previous quarter, or at any time on or after December 15, 2023 or under certain other specified circumstances. Upon conversion, the Company will pay cash and shares of its common stock, if any, based on a daily conversion value calculated on a proportionate basis for each day of the 25 trading-day cash settlement averaging period. The conversion price is $27.11 and the conversion threshold is $35.25 as of March 31, 2013. As of March 31, 2013, the aforementioned conversion threshold of the 2025 Notes had been attained. As a result, the 2025 Notes were convertible by the debt holders to cash and to common stock and have been classified as current debt, net of discount, on the Consolidated Balance Sheet as of March 31, 2013.

At March 31, 2013, there was no outstanding balance under the Company’s Revolving Credit Facility and $414 million outstanding under the Term Loan. The interest rate on the Term Loan was 1.96% at March 31, 2013. As of March 31, 2013, the Company had approximately $8 million outstanding relating to standby letters of credit, substantially all of which were subject to automatic annual renewals.

The weighted average floating interest rate on the interest rate swap agreements associated with the Company's fixed rate debt was 4.71% versus the 7.75% stated rate on the corresponding senior subordinated notes due 2020 with remaining principal balance of $550 million at March 31, 2013.

The Company amortized to expense approximately $1.0 million and $1.5 million of deferred debt issuance costs during the three months ended March 31, 2013 and 2012, respectively.

Information relating to the Company's convertible securities at March 31, 2013 is in the following table:



Convertible Debt	Carrying Value of Equity Component (in thousands)		Remaining Amortization Period	Effective Interest Rate
3.75% convertible senior subordinated notes, due 2025	$	27,230	12.75	8.25	%
4.00% junior subordinated convertible debentures, due 2033	$	151,665	20.25	8.01	%
3.25% convertible senior debentures, due 2035	$	245,433	2.75	7.63	%
3.75% convertible senior subordinated notes, due 2042	$	161,600	29.00	7.11	%

The fair value of the Company’s fixed-rate debt facilities, excluding the previously disclosed swap values, is based on quoted market prices (Level II) and is summarized as follows (in thousands):



Fair Value of Financial Instruments
	March 31, 2013				December 31, 2012
Financial Instrument	Book Value		Market Value		Book Value		Market Value
7.75% senior subordinated notes, due 2020	$	550,000	$	613,300	$	550,000	$	614,600
3.75% convertible senior subordinated notes, due 2025
Carrying value	205,846		—		204,608		—
Unamortized debt discount	112,208		—		113,446		—
Principal amount	318,054		512,100		318,054		459,600
4.00% junior subordinated convertible debentures, due 2033
Carrying value	206,947		—		206,266		—
Unamortized debt discount	138,053		—		138,734		—
Principal amount	345,000		355,300		345,000		331,600
3.25% convertible senior debentures, due 2035
Carrying value	381,510		—		377,782		—
Unamortized debt discount	45,990		—		49,718		—
Principal amount	427,500		430,200		427,500		425,400
3.75% convertible senior subordinated notes, due 2042
Carrying value	230,046		—		229,624		—
Unamortized debt discount	159,954		—		160,376		—
Principal amount	390,000		434,900		390,000		397,100