GNC 2010 Annual Report Download - page 106

Table of Contents
GENERAL NUTRITION CENTERS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Senior Notes. In January 2005, the Company issued $150.0 million of its Senior Notes. The Senior Notes were scheduled to mature on
January 15, 2011, and bore interest at the rate of 8 5/8% per annum, which was payable semi-annually in arrears on January 15 and July 15 of
each year. In conjunction with the Merger, the Company repaid certain of its existing debt, and issued new debt. The Company utilized
proceeds from the new debt to redeem in full its 8 5/8% Senior Notes issued in January 2005.
Senior Subordinated Notes. In 2003, the Company issued $215.0 million of its Senior Subordinated Notes. The Senior Subordinated
Notes were mature on December 1, 2010, and bore interest at the rate of 8 1/2% per annum, which was payable semi-annually in arrears on
June 1 and December 1 of each year. In conjunction with the Merger, the Company repaid certain of its existing debt, and issued new debt. The
Company utilized proceeds from the new debt to redeem in full its 8 1/2% Senior Subordinated Notes issued in December 2003.
NOTE 13. OTHER LONG TERM LIABILITIES
Other long term liabilities at each respective period consisted of the following:
December 31, December 31,
2009 2008
(in thousands)
Fair value of interest rate swap agreements $ 14,679 $ 18,902
Payable to former shareholders — 767
Liability for unrecognized tax benefits 6,776 5,542
Rent escalations 10,569 10,089
Other 7,496 5,684
Total $ 39,520 $ 40,984
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