SUBSEQUENT EVENT

3 Months Ended

Jun. 30, 2011

SUBSEQUENT EVENT

SUBSEQUENT EVENT

NOTE 14—SUBSEQUENT EVENT

        On July 29, 2011, the Company consummated its offer to exchange all $600,000,000 aggregate principal amount of its outstanding 9.75% Senior Subordinated Notes due 2020, which were sold on December 15, 2010, for an equal aggregate principal amount of its newly issued 9.75% Senior Subordinated Notes due 2020. All of the outstanding original senior subordinated notes were exchanged in the exchange offer. The Company received no cash proceeds from the issuance of the exchange notes in the exchange offer.

        The new senior subordinated notes have terms substantially identical to the terms of the original senior subordinated notes, except that the transfer restrictions, registration rights and related additional interest terms applicable to the original notes do not apply to the new notes. The original notes surrendered in exchange for the new notes were retired and cancelled and may not be reissued. Accordingly, the issuance of the new notes did not result in any increase in the Company's outstanding indebtedness or in the obligations of the guarantors of the notes.