Burger King 2010 Annual Report Download - page 94
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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
BKC is the borrower under the facility and the Company and certain subsidiaries have jointly and severally unconditionally
guaranteed the payment of the amounts under the facility. The Company, BKC and certain subsidiaries have pledged, as collateral, a
100% equity interest in the domestic subsidiaries of the Company and BKC with certain exceptions. Furthermore, BKC has pledged as
collateral a 65% equity interest in certain foreign subsidiaries.
During the year ended June 30, 2010, the Company paid $101.2 million of long−term debt, of which $62.5 million related to the
Term Loan A and $38.5 million related to the revolving credit facility and borrowed $38.5 million under the revolving credit facility.
As of June 30, 2010, the next scheduled principal payment on term debt is the September 30, 2010 principal payment of $21.9 million
on Term Loan A. The level of required principal repayments increases over time thereafter. The maturity dates of Term Loan A, Term
Loan B−1, and any amounts drawn under the revolving credit facility are June 2011, June 2012 and June 2011, respectively.
The aggregate maturities of long−term debt, including the Term Loan A, Term Loan B−1 and other debt as of June 30, 2010, are
as follows (in millions):
Principal
Year
Ended
June
30, Amount
2011 $ 87.7
2012 666.4
2013 0.2
2014 0.2
2015 0.2
Thereafter 0.7
Total $ 755.4
The Company also has lines of credit with foreign banks, which can also be used to provide guarantees, in the amounts of
$3.1 million and $3.5 million as of June 30, 2010 and 2009, respectively. There are no guarantees issued against these lines of credit as
of June 30, 2010 and 2009, respectively.
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