FairPoint Communications 2004 Annual Report Download - page 102


Long-term debt at December 31, 2004 and 2003 is shown below (dollars in thousands):





Senior secured notes, variable rates ranging from 6.44% to 8.75% at
December 31, 2004, due 2005 to 2007 $182,357 171,091
Senior subordinated notes due 2008:
Fixed rate notes, 9.50% 115,207 115,207
Variable rate notes, 6.4875% at December 31, 2004 75,000 75,000
Senior subordinated notes, 12.50%, due 2010 193,000 193,000
Senior notes, 11.875%, due 2010 225,000 225,000
Carrier Services' senior secured notes, 8.00%, due 2007 — 24,570
Senior notes to RTFC:
Fixed rate, 9.20%, due 2009 2,278 2,776
Variable rate, 6.15% at December 31, 2004, due 2009 3,415 4,162
Subordinated promissory notes, 7.00%, due 2005 7,000 7,000
First mortgage notes to Rural Utilities Service, fixed rates ranging from
4.96% to 10.78%, due 2005 to 2016 6,034 6,492
Senior notes to RTB, fixed rates ranging from 7.50% to 8.00%, due 2008
to 2014 1,141 1,262
Total outstanding long-term debt 810,432 825,560
Less current portion (524)(21,982)
Total long-term debt, net of current portion $809,908 803,578
The approximate aggregate maturities of long-term debt for each of the five years subsequent to December 31, 2004 are as
follows (dollars in thousands):
Fiscal year:
2005(a) $27,256
2006 30,384
2007 138,384
2008 192,700
2009 1,037
Thereafter 420,671
$810,432
(a) A total of $26,732 of current maturities on long-term debt has been reclassified to long-term debt as a result of post-balance-
sheet refinancing as discussed in note 2.
(a) Senior Secured Notes
On March 30, 1998, the Company closed a $315 million senior secured credit facility (the credit facility) which committed
$75 million of term debt (tranche C) amortized over 9 years, $155 million of term debt (tranche B) amortized over 8 years, and
$85 million of reducing
98