Long-Term Debt and Other Borrowings

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements [Abstract]

NOTE C - LONG-TERM DEBT AND OTHER BORROWINGS

Long-term debt consists of the following:

		March 31, 2013		December 31, 2012
		(In Thousands)
	Scheduled Maturity
Bank revolving line of credit facility	June 26, 2015	$	12,821	$	51,218
Compressco Partners' bank credit facility	June 24, 2015		14,300		10,050
5.90% Senior Notes, Series 2006-A	April 30, 2016		90,000		90,000
6.30% Senior Notes, Series 2008-A	April 30, 2013		35,000		35,000
6.56% Senior Notes, Series 2008-B	April 30, 2015		90,000		90,000
5.09% Senior Notes, Series 2010-A	December 15, 2017		65,000		65,000
5.67% Senior Notes, Series 2010-B	December 15, 2020		25,000		25,000
European bank credit facility			-		-
Other			252		441
Total debt			332,373		366,709
Less current portion			(252)		(35,441	)
Total long-term debt		$	332,121	$	331,268

On April 29, 2013, we issued $35.0 million in aggregate principal amount of Series 2013 Senior Notes pursuant to a Note Purchase Agreement. The Series 2013 Senior Notes bear interest at the fixed rate of 4.0% and mature on April 29, 2020. On April 30, 2013, we utilized the proceeds from the issuance to repay the 2008-A Senior Notes. The Series 2013 Senior Notes were sold in the United States to accredited investors pursuant to an exemption from the Securities Act of 1933. Interest on the Series 2013 Senior Notes is due semiannually on April 29 and October 29 of each year.