Burger King 2012 Annual Report Download - page 90

Table of Contents
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
Long-term debt is comprised of the following (in millions):
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 
   


Tranche A Term Loans 2017 $ 1,023.6 $ — 3.1% N/A N/A
Tranche B Term Loans (b) 2019 695.1 — 4.5% N/A N/A
Secured Term Loan — USD tranche (c) — — 1,519.5 5.4% 5.5% 6.8%
Secured Term Loan — Euro tranche (c) — — 246.8 5.6% 5.8% 7.1%
9/% Senior Notes 2018 794.5 797.5 10.1% 10.1% 10.2%
11.0% Discount Notes (d) 2019 407.1 424.4 11.5% 11.5% N/A
Deferred Premiums on interest rate caps—USD
(See Note 13) 2016 29.0 35.8 2.5% 2.5% 2.5%
Deferred Premiums on interest rate caps—EUR
(See Note 13) 2016 — 7.3 2.9% 2.9% 2.9%
Other N/A 0.9 3.2
Total debt 2,950.2 3,034.5
Less: current maturities of debt (45.1) (24.2)
Total long-term debt $2,905.1 $3,010.3
(a) Represents the effective interest rate for the instrument computed on a quarterly basis, including the amortization of deferred debt issuance costs and
original issue discount, as applicable, and in the case of our term loans, the effect of interest rate caps.
(b) Principal face amount herein is presented net of an $8.1 million discount on the Tranche B Term Loans at December 31, 2012.
(c) Principal face amount herein is presented net of a $12.5 million discount on the USD tranche and revolving credit facility and $1.0 million discount on
the Euro tranche at December 31, 2011.
(d) Principal face amount herein is presented net of a discount of $172.0 million at December 31, 2012 and $247.6 million at December 31, 2011.
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On September 28, 2012 (the “Closing Date”), BKC and Holdings entered into a Credit Agreement (the “2012 Credit Agreement”) to refinance amounts
borrowed under the 2011 Amended Credit Agreement (as defined below). The 2012 Credit Agreement provides for (i) tranche A term loans in the aggregate
principal amount of $1,030.0 million (the “Tranche A Term Loans”), (ii) tranche B term loans in the aggregate principal amount of $705.0 million (the
“Tranche B Term Loans”), in each case under the new senior secured term loan facility (the “2012 Term Loan Facility”), and (iii) a new senior secured
revolving credit facility for up to $130.0 million of revolving extensions of credit outstanding at any time (including revolving loans, swingline loans and
letters of credit) (the “2012 Revolving Credit Facility” and, together with the 2012 Term Loan Facility, the “2012 Credit Facilities”).
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Source: Burger King Worldwide, Inc., 10-K, February 22, 2013 Powered by Morningstar® Document Research℠
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