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Debt
6 Months Ended
Jun. 30, 2012
Debt [Abstract]  
Debt
Note 7.  Debt
 
On April 12, 2012, the Company and certain of its subsidiaries entered into a new amended and restated credit agreement with Wells Fargo Bank, National Association ("Wells Fargo"), whereby Wells Fargo extended to the Company an unsecured line of credit of up to $100,000,000, including a sub-limit for letters of credit of up to $25,000,000.  The new amended and restated credit agreement replaced an expiring $100,000,000 credit facility between the Company and Wells Fargo.  There were no outstanding revolving or term loan borrowings under the credit facilities at the time of transition or at June 30, 2012.  Letters of credit totaling $12,853,000 were outstanding under the new agreement as of June 30, 2012, resulting in additional borrowing ability of $87,147,000 on the Wells Fargo credit facility as of June 30, 2012.  The new amended and restated agreement has a five-year term expiring in April 2017.  Borrowings under the agreement are subject to an interest rate equal to the daily one month LIBOR rate plus a 0.75% margin.  The unused facility fee is 0.175%.  Interest only payments are due monthly.

The Company's South African subsidiary, Osborn Engineered Products SA (Pty) Ltd ("Osborn"), has a credit facility of $9,108,000 (ZAR 75,000,000) to finance short-term working capital needs, as well as to cover performance letters of credit, advance payment and retention guarantees. As of June 30, 2012, Osborn had no outstanding borrowings under the credit facility, but $4,644,000 in standby letters of credit and performance, advance payment and retention guarantees were issued under the facility. The facility is secured by Osborn's buildings and improvements, accounts receivable and cash balances and a $2,000,000 letter of credit issued by the parent Company.  As of June 30, 2012, Osborn had available credit under the facility of $4,464,000. The facility has an ongoing, indefinite term subject to periodic reviews by the bank. The interest rate is the South Africa prime rate, which was 9.00% at June 30, 2012 and December 31, 2011. The unused facility fee is 0.793%.

The Company's Australian subsidiary, Astec Australia Pty Ltd ("Astec Australia"), has a credit facility to finance short-term working capital needs of $815,000 (AUD 800,000), a bank guarantee facility of $611,000 (AUD 600,000) to facilitate contractual commitments and banking arrangements to finance foreign exchange dealer limit orders of up to $3,821,000 (AUD 3,750,000), secured by cash balances in the amount of $764,000 (AUD 750,000) and a $1,600,000 letter of credit issued by the parent Company.  No amounts were outstanding under the credit facility at June 30, 2012; however, performance guarantees in the amount of $299,000 were outstanding under the bank guarantee facility as of June 30, 2012.  The interest rate is the Australian adjusted Bank Business Rate plus a margin of 1.05%. The interest rate was 11.57% and 12.01% at June 30, 2012 and December 31, 2011, respectively.