OfficeMax 2012 Annual Report Download - page 105

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10. Debt
The Company’s debt, almost all of which is unsecured, consists of both recourse and non-recourse
obligations as follows at year-end:
2012 2011
(thousands)
Recourse debt:
7.35% debentures, due in 2016 ............................................. $ 17,967 $ 17,967
Medium-term notes, Series A, with interest rates averaging 7.9%, paid in 2012 ....... — 35,000
Revenue bonds, with interest rates averaging 6.4% , due in varying amounts
periodically through 2029 ............................................... 185,505 185,505
American & Foreign Power Company Inc. 5% debentures, due in 2030 ............. 18,526 18,526
Grupo OfficeMax installment loans, due in monthly installments through 2014 ....... 5,028 8,508
Other indebtedness, with interest rates averaging 6.6% and 6.8%, due in varying
amounts annually through 2019 ........................................... 9,644 3,188
$236,670 $ 268,694
Less unamortized discount ................................................. (476) (504)
Total recourse debt ................................................... $236,194 $ 268,190
Less current portion ...................................................... (10,232) (38,867)
Long-term debt, less current portion ................................. $225,962 $ 229,323
Non-recourse debt:
5.42% Securitization Notes, due in 2019 ...................................... $735,000 $ 735,000
5.54% Securitization Notes, due in 2019 ...................................... — 735,000
Total non-recourse debt ........................................... $735,000 $1,470,000
Scheduled Debt Maturities
The scheduled payments of recourse debt are as follows:
Total
(thousands)
2013 ............................................................................. $ 10,232
2014 ............................................................................. 1,574
2015 ............................................................................. 213
2016 ............................................................................. 20,264
2017 ............................................................................. 115
Thereafter ......................................................................... 204,272
Total ............................................................................. $236,670
Credit Agreements
On October 7, 2011, the Company entered into a Second Amended and Restated Loan and Security
Agreement (the “Credit Agreement”) with a group of banks. The Credit Agreement amended both our then
existing credit agreement to which we were a party along with certain of our subsidiaries in the U.S. and our then
existing credit agreement to which our subsidiary in Canada was a party and consolidated them into a single
credit agreement. The Credit Agreement permits the Company to borrow up to a maximum of $650 million, of
which $50 million is allocated to the Company’s Canadian subsidiary and $600 million is allocated to the
Company and its other participating U.S. subsidiaries, in each case subject to a borrowing base calculation that
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