First Data 2009 Annual Report Download - page 142

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 9: Borrowings
Borrowings consisted of the following at December 31, 2009 and December 31, 2008:
(in millions) December 31, 2009 December 31, 2008
Short-term borrowings:
Senior secured revolving credit facility .......................... — $ 18.0
Other short-term borrowings .................................. $ 109.2 295.0
Total short-term borrowings .............................. 109.2 313.0
Current portion of long-term borrowings:
3.90% Notes due 2009 ....................................... — 10.3
4.50% Notes due 2010 ....................................... 12.8 —
Senior secured term loan facility due 2014 ....................... 129.2 128.9
Capital lease obligations ..................................... 53.7 45.1
Total current portion of long-term borrowings ................ 195.7 184.3
Long-term borrowings:
4.50% Notes due 2010 ....................................... — 12.1
5.625% Notes due 2011 ...................................... 30.0 28.6
4.70% Notes due 2013 ....................................... 12.7 12.0
4.85% Notes due 2014 ....................................... 3.0 2.8
4.95% Notes due 2015 ....................................... 7.5 7.1
9.875% Senior notes due 2015 ................................ 3,750.0 3,750.0
10.55% Senior PIK notes due 2015 (a) .......................... 3,347.9 3,014.9
11.25% Senior subordinated notes due 2016 ..................... 2,500.0 2,500.0
Senior secured term loan facility due 2014 ....................... 12,498.5 12,603.4
Capital lease obligations ..................................... 155.3 144.3
Total long-term borrowings ............................... 22,304.9 22,075.2
Total borrowings ................................... $22,609.8 $22,572.5
(a) Payment In-Kind (“PIK”)
Senior secured revolving credit facility
The Company has a senior secured revolving credit facility that currently has commitments from
nondefaulting financial institutions to provide $1,769.4 million of credit. Up to $500 million of the senior
secured revolving credit facility is available for letters of credit (of which $39.6 million and $39.7 million of
letters of credit were issued under the facility as of December 31, 2009 and December 31, 2008, respectively). As
of December 31, 2009, $1,729.8 million remained available under the revolving credit facility after considering
the letters of credit issued under it.
Interest is payable at a rate equal to, at the Company’s option, either (a) LIBOR for deposits in the
applicable currency plus an applicable margin or (b) the higher of (1) the prime rate of Credit Suisse and (2) the
federal funds effective rate plus 0.50%, plus an applicable margin. The weighted-average interest rates were
4.8% and 6.2% as of December 31, 2009 and 2008, respectively. The commitment fee rate for the unused portion
of this facility is 0.50% per year. The revolving credit facility has a term through the third quarter of 2013.
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