Note 11 – Notes Payable

Notes payable are summarized as follows (dollars in thousands):


	March 31,
	2012		December
	Interest		31, 2011				March 31,		December 31,
Name of Note Payable or Security	Rate		Interest Rate		Maturity Date		2012 Balance		2011 Balance
NAB Australian Corporate Term Loan	7.04	%	7.20	%	June 30, 2014	$	87,860	$	88,671
NAB Australian Corporate Revolver	7.04	%	7.20	%	June 30, 2014		--		--
Australian Shopping Center Loans	-		-		2012-2014		389		384
New Zealand Corporate Credit Facility	4.80	%	4.15	%	March 31, 2015		22,960		21,854
Trust Preferred Securities	9.22	%	9.22	%	April 30, 2027		27,913		27,913
US Cinema 1, 2, 3 Term Loan	6.73	%	6.73	%	July 1, 2012		15,000		15,000
US GE Capital Term Loan	5.50	%	5.50	%	December 1, 2015		30,078		32,188
US Liberty Theaters Term Loans	6.20	%	6.20	%	April 1, 2013		6,545		6,583
US Nationwide Loan 1	8.50	%	8.50	%	February 21, 2013		596		597
US Sanborn Note	-		7.00	%	January 31, 2012		--		250
US Sutton Hill Capital Note – Related Party	8.25	%	8.25	%	December 31, 2013		9,000		9,000
US Union Square Theatre Term Loan	5.92	%	5.92	%	May 1, 2015		7,121		7,174
Total						$	207,462	$	209,614

Derivative Instruments

As indicated in Note 17 – Derivative Instruments, for our NAB Australian Corporate Credit Facility ("NAB Loan") and GE Capital Term Loan ("GE Loan"), we have entered into interest rate swap agreements for all or part of these facilities. These swap agreements result in us paying a total fixed interest rate of 8.15% (5.50% swap contract rate plus a 2.65% margin) for our NAB Loan and a total fixed interest rate of 5.84% (1.34% swap contract rate plus a 4.50% margin) for our GE Loan instead of the above indicated 7.04% and 5.50%, respectively, the obligatorily disclosed loan rates.

Renewed New Zealand Credit Facility

On February 8, 2012, we received an approved amendment from Westpac renewing our existing $36.9 million (NZ$45.0 million) New Zealand credit facility with a 3-year credit facility. The renewed facility calls for a decrease in the overall facility by $4.1 million ($5.0 million) to $32.8 million (NZ$40.0 million) and an increase in the facility margin of 0.55% to 2.0%. No other significant changes to the facility were made.