5.	Long-term debt:


	2013		2012
Revolving credit facility (a)	$	—	$	8,500
Canadian real estate facilities (b)		46,144		50,495
Capital leases (c)		5,953		1,307

		52,097		60,302
Less current portion		1,846		1,333

	$	50,251	$	58,969

On March 4, 2013, in conjunction with the sale of SCO, the Company amended its senior asset based revolving credit facility. The amended credit facility provided up to $50.0 million of borrowing capacity, compared to $85.0 million previously. As a result of the amendment, the Company wrote off $0.4 million of previously capitalized financing fees. This non-cash expense was recorded in interest expense on the consolidated statements of income (loss).

On October 7, 2013, in conjunction with the sale of U.S. LTL, the Company further amended its senior asset based revolving credit facility. The amended credit facility provided $26.3 million of availability, which was the amount of the letters of credit outstanding for the U.S. LTL business unit as of October 7, 2013. As part of the sale transaction, the obligations under the letters of credit remained guaranteed by the Company. However, the purchaser agreed to reduce such letters of credit to zero within 90 days from the date of closing of the sale. As of December 31, 2013, $0.6 million in letters of credit were outstanding. As a result of the amendment, the Company wrote off $0.4 million of previously capitalized financing fees. This non-cash expense was recorded within interest expense on the consolidated statements of income (loss). On January 21, 2014, the credit facility was terminated. Refer to Note 13 “Subsequent events.”

On November 1, 2012, the Company entered into a new real estate term facility for CAD $5.5 million. The facility is secured by the Company’s transportation facility in Winnipeg, Manitoba and matures on November 30, 2018.

On November 30, 2011, the Company entered into a new three-year bank syndicated asset based revolving credit agreement which provided up to $85.0 million of borrowing capacity. In addition, on November 30, 2011, the Company entered into a new seven-year CAD $45.7 million real estate term credit facility, secured by specific real estate in Canada. The proceeds from the new credit facilities were used to extinguish the previous senior term and revolving credit facilities which were to mature in July 2012. Deferred financing costs of $1.0 million related to the previous credit agreement were written off in 2011. This non-cash expense was recorded within interest expense on the consolidated statements of income (loss).

(a)

The Company’s asset based revolving credit facility was secured by accounts receivable, certain equipment and general security agreements covering the assets of the Company and all of its subsidiaries. The provisions of the revolving credit facility imposed certain financial maintenance tests if availability falls below a certain threshold. At December 31, 2013, the Company was not required to measure these covenants. Refer to Note 13 “Subsequent events”.

(b)

The Company’s Canadian real estate term credit facility is secured by five transportation terminals in Canada and matures on November 30, 2018. The Company has CAD $49.1 million outstanding at December 31, 2013 (2012 – CAD $50.2 million), bearing interest at 4.30% to 4.75% (2012 – 4.30% to 4.75%).

(c)

During 2013, the Company financed certain equipment by entering into additional capital leases of CAD $5.3 million. The Company had CAD $6.3 million (2012 – CAD $1.3 million) of capital leases remaining at December 31, 2013.

At December 31, 2013, the required future principal repayments on all long-term debt and capital leases are as follows:


Year ending December 31:
2014	$	1,846
2015		1,938
2016		2,031
2017		2,138
2018		2,384
Thereafter		41,760

		$52,097