GNC 2011 Annual Report Download - page 99
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Table of Contents
NOTE 12. LONG-TERM DEBT / INTEREST (Continued)
Senior Subordinated Notes issued in December 2003. Long-term debt at each respective period consisted of the following:
December 31,
2010 2009
(in thousands)
Senior Credit Facility $ 644,382 $ 644,619
Senior Notes 298,372 297,959
Senior Subordinated Notes 110,000 110,000
Mortgage 5,711 7,184
Capital leases 34 47
Less: current maturities (28,070) (1,724)
Total $ 1,030,429 $ 1,058,085
At December 31, 2010, the Company's total debt principal maturities are as follows:
Years Ending
December 31, Senior
Credit Facility Senior
Notes(a)
Senior
Subordinated
Notes Mortgage Loan/
Capital Leases Total
(in thousands)
2011 $ 26,478 $ — $ — $ 1,592 $ 28,070
2012 — — — 1,709 1,709
2013 617,904 — — 1,812 619,716
2014 — 300,000 — 632 300,632
2015 — — 110,000 — 110,000
$ 644,382 $ 300,000 $ 110,000 $ 5,745 $1,060,127
The Senior Notes include the balance of the initial original issue discount of $3.0 million.(a)
The Company's net interest expense for each respective period is as follows:
December 31,
2010 2009 2008
(in thousands)
Senior Credit Facility
Term Loan $ 29,185 $ 32,775 $ 43,302
Revolver 445 489 482
Senior Notes 19,440 20,003 23,671
Senior Subordinated Notes 11,825 11,825 11,825
Deferred financing fees 4,282 4,104 3,907
Mortgage 445 544 643
OID amortization 412 374 339
Interest income (505) (161) (1,169)
Interest expense, net $ 65,529 $ 69,953 $ 83,000
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