Senior Credit Facility. CIBER has a senior credit agreement with several financial institutions as lenders and Bank of America, N.A. as administrative agent (the "Senior Credit Facility") that matures on January 1, 2013. At December 31, 2011, we had outstanding borrowings of $66.2 million under the Senior Credit Facility. The Senior Credit Facility provides for a revolving line of credit of up to $85 million and a term loan with a balance of $25.0 million at December 31, 2011. Under the senior credit agreement, the entirety of the term loan balance was required to be repaid by the Company on January 31, 2012. As such, $25 million of our total obligation was classified as a current liability at December 31, 2011. The term loan was repaid on January 31, 2012, through the repatriation of some of our foreign cash.

CIBER's remaining obligation under the Senior Credit Facility is classified as long-term debt on our Consolidated Balance Sheets. Based on the scheduled maturity date, and absent an amendment, all obligations under the Senior Credit Facility will need to be reclassified to short-term debt as of March 31, 2012. As a result, prior to the issuance of our financial statements for the period ending on March 31, 2012, we intend to either amend this facility to provide for an extension of the maturity date, or replace the facility with alternative bank financing or other equity or debt financing. There can be no assurance that we will be successful in achieving any of the above-mentioned alternatives, or that if available to us, the terms of these alternatives, such as an amended facility, will not be materially less favorable to the Company.

On January 21, 2012, we entered into a consent to sell and amendment to the Senior Credit Facility with our lenders that provides for, among other things: 1) the consent of the lenders to the sale of substantially all of the assets of the Company's Federal division, subject to the requirements that, among other things, the net proceeds paid to the Company from the sale shall not be less than $30 million and that 100% of the net proceeds paid to the Company from the sale in excess of $25 million be applied to the reduction of the revolving line of credit and 2) certain modifications to the financial covenants and related definitions under the Senior Credit Facility agreement with our lenders, for purposes of, among other things, adjusting such covenants to take into account the effects of the sale. As a result of the closing of the sale of our Federal division on March 9, 2012, the borrowings available under the revolving line of credit were reduced by $9 million.

The terms of the Senior Credit Facility, as amended, include, among other provisions, specific limitations on the incurrence of additional indebtedness and liens, stock repurchases, investments, guarantees, mergers, dispositions and acquisitions, and a prohibition on the payment of any dividends. The Senior Credit Facility also contains certain financial covenants, including: 1) a maximum consolidated total leverage ratio; 2) a minimum consolidated fixed charge coverage ratio; 3) a minimum EBITDA; and 4) an asset coverage test. We are required to be in compliance with these financial covenants at the end of each calendar quarter. We were in compliance with these financial covenants at December 31, 2011. Based on management's current estimates, we do not currently believe a covenant violation to be probable of occurring for at least the next 12 months. However, we were in violation of our covenants at June 30, 2011, which required us to seek a waiver from our lenders, and there can be no assurance that we will be in compliance with these bank covenants in the future.

The Senior Credit Facility is subject to mandatory prepayments (and commitment reductions) in amounts equal to the net cash proceeds of any asset disposition, event of loss, extraordinary receipts, issuance or incurrence of indebtedness and issuance of equity, subject in each case as appropriate to thresholds and other exceptions and definitions as specified in the Senior Credit Facility, as amended. CIBER's obligations under the Senior Credit Facility are secured by all of CIBER's present and future domestic tangible and intangible assets, as well as a pledge of 66% of the capital stock of CIBER's direct foreign subsidiaries.

We may elect interest rates on our Senior Credit Facility borrowings calculated by reference to either the Bank of America prime lending rate ("Prime") or to a London Interbank Offered Rate ("LIBOR") for one, three or six month maturities, each plus an applicable margin. At December 31, 2011, the applicable margins for Prime and LIBOR loans were 4.00% and 5.00%, respectively. These rates will increase by 0.50% each on January 1, 2012, and will increase again by an additional 1.00% on April 1, 2012. The Senior Credit Facility provides for the payment of other specified recurring fees and expenses, including administrative agent fees, commitment fees, and other fees. At December 31, 2011, our weighted average interest rate on our outstanding borrowings under the Senior Credit Facility was 5.10%.

Total upfront and arrangement fees and related expenses for completing the Senior Credit Facility in 2009, as well as any subsequent amendment fees are typically capitalized and amortized to interest expense over the remaining term of the credit agreement. At December 31, 2011, the balance of unamortized debt fees was $1.9 million.

	December 31,

	2011		2010
	(In thousands)
Senior Credit Facility	$	66,167	$	87,249
Capital lease obligations		784		1,012
Other		—		91

Total bank debt		66,951		88,352
Less current portion		25,571		10,473

Long-term bank debt	$	41,380	$	77,879

Maturities—Maturities of long-term bank debt were determined to be as follows:

	Amount Maturing

	(In thousands)
2012	$	25,571
2013		41,302
2014		78

	$	66,951