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Debt
9 Months Ended
Sep. 30, 2011
Debt 
Debt

 

 

(8)           Debt

 

On May 2, 2011 we redeemed $85.0 million of our 7.00% Senior Notes at 101.75% of principal plus accrued interest pursuant to a call we issued on April 1, 2011. We recorded a net loss on extinguishment of debt of $2.4 million during the second quarter of 2011. This net loss consists of the following:

 

Premiums paid pursuant to the call

 

$

1,488

 

Deferred financing costs write-off

 

706

 

Bond discount write-off

 

228

 

Net loss on extinguishment of debt

 

$

2,422

 

 

Our outstanding debt consists of the following:

 

 

 

September 30,
2011

 

December 31,
2010

 

7.00% Senior Notes

 

$

67,506

 

$

152,506

 

Unamortized bond discount

 

(155

)

(458

)

Domestic line of credit

 

10,000

 

 

Overseas lines of credit

 

649

 

2,462

 

Total

 

78,000

 

154,510

 

Less: current portion

 

649

 

2,462

 

Long-term debt

 

$

77,351

 

$

152,048

 

 

Scheduled repayments of outstanding debt as of September 30, 2011 are as follows:

 

Remainder of 2011

 

$

649

 

2012

 

 

2013

 

 

2014

 

67,506

 

2015

 

10,000

 

Total

 

$

78,155