Debt (Tables)

3 Months Ended

Mar. 31, 2015

Debt Instrument [Line Items]

Schedule of principal amounts, unamortized discount and net carrying amounts

The following table sets forth information related to the 2033 Senior Notes which is included our Condensed Consolidated Balance Sheets as of March 31, 2015:

(In thousands)	Embedded conversion option			2033 Senior Notes			Discount			Total
Balance at December 31, 2014	$	65,947		$	87,642		$	(22,135	)	$	131,454
Amortization of debt discount	—			—			1,056			1,056
Change in fair value of embedded derivative	53,730			—			—			53,730
Conversion	(51,890		)	(36,442		)	8,765			(79,567		)
Balance at March 31, 2015	$	67,787		$	51,200		$	(12,314	)	$	106,673

Summary of lines of credit

The following table summarizes the amounts outstanding under the Chilean and Spanish lines of credit:

(Dollars in thousands)			Balance Outstanding
Lender	Interest rate on borrowings at March 31, 2015	Credit line capacity	March 31, 2015	December 31, 2014
Itau Bank	6.00%	$1,800	$918	$965
Bank of Chile	6.34%	2,250	805	1,410
BICE Bank	6.16%	1,700	1,340	1,249
BBVA Bank	5.00%	2,300	1,723	795
Penta Bank	7.34%	1,200	962	1,008
Security Bank	6.16%	940	334	361
Estado Bank	5.30%	2,800	1,811	1,870
BBVA Bank	4.75%	271	—	—
Total		$13,261	$7,893	$7,658

OPKO Health Europe

Debt Instrument [Line Items]

Schedule of principal amounts, unamortized discount and net carrying amounts

At March 31, 2015 and December 31, 2014, we had mortgage notes and other debt related to OPKO Health Europe as follows:

(In thousands)	March 31, 2015		December 31, 2014
Current portion of notes payable	$	361	$	608
Other long-term liabilities	2,185		2,435
Total mortgage notes and other debt	$	2,546	$	3,043

Notes

Debt Instrument [Line Items]

Inputs to lattice model used to value the embedded derivative

The following table sets forth the inputs to the lattice model used to value the embedded derivative:

	March 31, 2015
Stock price	$14.17
Conversion Rate	141.4827
Conversion Price	$7.07
Maturity date	February 1, 2033
Risk-free interest rate	1.09%
Estimated stock volatility	43%
Estimated credit spread	1043 basis points

Fair value of notes with and without the embedded derivatives and fair value of embedded derivatives

The following table sets forth the fair value of the 2033 Senior Notes with and without the embedded derivatives, and the fair value of the embedded derivatives at March 31, 2015. At March 31, 2015 the principal amount of the 2033 Senior Notes was $51.2 million:

(In thousands)	March 31, 2015
Fair value of 2033 Senior Notes:
With the embedded derivatives	$	106,170
Without the embedded derivatives	$	38,383
Estimated fair value of the embedded derivatives	$	67,787