Subsequent events (Notes)

3 Months Ended

Mar. 31, 2016

Subsequent Event [Line Items]

Subsequent Events [Text Block]

21.    SUBSEQUENT EVENTS

On April 7, 2016 we drew the 2021 Euro Term Loan, the proceeds of which, together with cash on hand, were applied toward the repayment of the 2017 Term Loan plus accrued and unpaid interest, and toward the redemption and discharge of the 2017 PIK Notes plus accrued and unpaid interest. In the second quarter of 2016, we expect to recognize a loss on extinguishment of debt of approximately US$ 150.0 million.

Also on April 7, 2016, we extended the maturity date of the 2018 Euro Term Loan by one year to November 1, 2018; and extended the maturity date of the 2021 Revolving Credit Facility to February 19, 2021, with a borrowing capacity of US$ 50.0 million with effect from January 1, 2018. We also amended the 2021 Revolving Credit Facility such that interest is determined on the basis of our net leverage ratio (as defined in the Reimbursement Agreement) and ranges from 10.0% (if our net leverage ratio is greater than or equal to seven times) to 7.0% per annum (if our net leverage ratio is less than five times).