LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2011

Long-Term Debt

Long-term debt is summarized as follows:

(in thousands of U.S. dollars)	December 31, 2011		December 31, 2010
Senior Secured Revolving Credit Facility	$	50,000	$	—
Senior Secured Term Loan A		292,500		—
Senior Secured Convertible Notes due 2033, net of discount		60		58
8 1/4% Senior Notes due 2015		—		242,224
6 5/8% Senior Notes due 2021		260,000		—
Senior Secured Term Loan B		—		347,723
Senior Secured Delayed Draw Term Loan		—		116,222
Total debt		602,560		706,227
Current portion long-term debt		15,000		7,058
Long-term debt	$	587,560	$	699,169

Required and Actual Financial Ratios Under Senior Secured Credit Facility

The following table shows the required and actual financial ratios under our Senior Secured Credit Facility as of December 31, 2011:

	Required Ratio	Actual Ratio
Maximum consolidated leverage ratio	No greater than 3.50:1.00		1.88:1.00
Minimum consolidated interest coverage ratio	No less than 3.00:1.00		10.18:1.00

Redemption Prices (Expressed as Percentages of Principal Amount Thereof)

At any time on or after February 1, 2016, we may redeem all or a portion of the 2021 Notes at our option at the following redemption prices (expressed as percentages of the principal amount thereof) if redeemed during the twelve-month period commencing on February 1 of the years set forth below:

Year	Percentage
2016		103.313	%
2017		102.208	%
2018		101.104	%
2019 and thereafter		100.000	%