XML 70 R56.htm IDEA: XBRL DOCUMENT v3.5.0.2
LONG-TERM DEBT AND OTHER FINANCING ARRANGEMENTS Credit Facility and Capital Lease Obligations(Details)
RON in Millions, CZK in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
CZK
Sep. 30, 2016
CZK
Jan. 01, 2018
USD ($)
Sep. 30, 2016
USD ($)
Sep. 30, 2016
RON
Apr. 07, 2016
USD ($)
Dec. 31, 2015
USD ($)
Line of Credit Facility [Line Items]              
Unamortized Debt Issuance Expense       $ 8,362,000      
Senior debt       1,057,442,000     $ 906,028,000
Credit facilities (1) – (3)       0 [1],[2],[3]     0
Capital leases       3,486,000     3,648,000
Total credit facilities and capital leases       3,486,000     3,648,000
Less: current maturities       (1,258,000)     (1,155,000)
Total non-current credit facilities and capital leases       $ 2,228,000     2,493,000
2021 Revolving Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage [4] 10.00% 10.00%   10.00% 10.00%    
Line of Credit Facility, Maximum Borrowing Capacity       $ 115,000,000      
Senior Debt and Credit Facilities [Member]              
Line of Credit Facility [Line Items]              
Senior debt       1,057,442,000      
Principal Amount of Liability Component       1,065,804,000      
2017 Term Loan [Member]              
Line of Credit Facility [Line Items]              
Senior debt       $ 0     $ 27,592,000
Debt Instrument, Interest Rate, Stated Percentage [5]           15.00%  
Principal Amount of Liability Component           $ 38,200,000  
CME NV and CME BV [Member]              
Line of Credit Facility [Line Items]              
Outstanding Shares Pledged, Percentage 100.00% 100.00%   100.00% 100.00%    
CME NV and CME BV [Member] | 2021 Revolving Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Outstanding Shares Pledged, Percentage             100.00%
BMG Bank Mendes Gans [Member]              
Line of Credit Facility [Line Items]              
Credit facilities (1) – (3)       $ 0     $ 0
Line of credit facility cash pooling arrangement deposit       28,700,000     $ 19,600,000
Ceska Sporitelna [Member] | CET 21 [Member]              
Line of Credit Facility [Line Items]              
Credit facilities (1) – (3)       0      
Basis spread on variable rate (in percent) 2.50%            
Line of Credit Facility, Maximum Borrowing Capacity CZK 800.0 CZK 800.0   33,000,000      
Factoring Fee, Percentage 0.30%            
Global Funds IFN S.A. [Member] | Pro TV [Member]              
Line of Credit Facility [Line Items]              
Credit facilities (1) – (3)       21,000,000 RON 83.8    
Basis spread on variable rate (in percent)   6.00%          
Factoring Fee, Percentage   4.00%          
UniCredit Bank S.A. [Member] | Pro TV [Member]              
Line of Credit Facility [Line Items]              
Credit facilities (1) – (3) | RON         0.0    
Basis spread on variable rate (in percent)   2.25%          
Line of Credit Facility, Maximum Borrowing Capacity       $ 5,000,000 RON 20.0    
Factoring Fee, Percentage   0.30%          
Alternative Base Rate [Member] | 2021 Revolving Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Basis spread on variable rate (in percent)   8.00%          
Base Rate [Member] | 2021 Revolving Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage 1.00% 1.00%   1.00% 1.00%    
Basis spread on variable rate (in percent)   9.00%          
Subsequent Event [Member] | 2021 Revolving Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity     $ 50,000,000.0        
[1] As at September 30, 2016 and December 31, 2015, there were no drawings outstanding under a CZK 800.0 million (approximately US$ 33.0 million) factoring framework agreement with Factoring Ceska Sporitelna (“FCS”). Under this facility, up to CZK 800.0 million (approximately US$ 33.0 million) of receivables from certain customers in the Czech Republic may be factored on a recourse or non-recourse basis. The facility has a factoring fee of 0.3% of any factored receivable and bears interest at one-month PRIBOR plus 2.5% per annum for the period that receivables are factored and outstanding.
[2] As at September 30, 2016, there were RON 83.8 million (approximately US$ 21.0 million) of receivables factored under a factoring framework agreement with Global Funds IFN S.A. entered into in the first quarter of 2016. Under this facility, receivables from certain customers in Romania may be factored on a non-recourse basis. The facility has a factoring fee of 4.0% of any factored receivable and bears interest at 6.0% per annum from the date the receivables are factored to the due date of the factored receivable.As at September 30, 2016, there were no receivables factored under a RON 20.0 million (approximately US$ 5.0 million) factoring framework agreement with UniCredit Bank S.A. Under this facility, receivables from certain customers in Romania may be factored on a non-recourse basis. The facility has a factoring fee of 0.3% of any factored receivable and bears interest at 2.3% per annum from the date the receivables are factored to the earlier of the date the factored receivable is collected or 210 days from the factored receivable's due date.
[3] We have a cash pooling arrangement with Bank Mendes Gans (“BMG”), a subsidiary of ING Bank N.V. (“ING”), which enables us to receive credit across the group in respect of cash balances which our subsidiaries deposit with BMG. Cash deposited by our subsidiaries with BMG is pledged as security against the drawings of other subsidiaries up to the amount deposited.As at September 30, 2016, we had deposits of US$ 28.7 million in and no drawings on the BMG cash pool. Interest is earned on deposits at the relevant money market rate. As at December 31, 2015, we had deposits of US$ 19.6 million in and no drawings on the BMG cash pool.
[4] (3) As at September 30, 2016, the aggregate principal amount available under the 2021 Revolving Credit Facility was undrawn.
[5] (1) Effective until November 1, 2017. From November 1, 2017 through maturity on November 1, 2018, the rate fixed pursuant to interest rate hedges will decrease to 0.14%, with a corresponding increase in the guarantee fee rate, such that the all-in borrowing rate remains 8.50%.