First Data 2011 Annual Report Download - page 92

Note 8: Borrowings
As of December 31,
(in millions) 2011 2010
Short-term borrowings
Senior secured revolving credit facility $ — $ —
Other 76.4 180.3
Total short-term borrowings 76.4 180.3
Current portion of long-term borrowings:
5.625% Notes due 2011 — 31.4
Capital lease obligations 57.0 58.8
Total current portion of long-term borrowings 57.0 90.2
Long-term borrowings (a):
Senior secured term loan facility due 2014, net of unamortized discount of $9.8 and $24.3 6,554.9 11,951.0
Senior secured term loan facility due 2018, net of unamortized discount of $27.2 4,626.2 —
7.375% Senior secured first lien notes due 2019, net of unamortized discount of $15.0 735.0 —
8.875% Senior secured first lien notes due 2020, net of unamortized discount of $15.4 and
$17.2 494.6 492.8
8.25% Senior secured second lien notes due 2021, net of unamortized discount of $16.1 and
$17.9 1,983.6 1,981.8
8.75%/10.00% PIK toggle senior secured second lien notes due 2022 (b), net of
unamortized discount of $8.1 and $9.0 991.9 991.0
12.625% Senior unsecured notes due 2021, net of unamortized discount of $24.2 and $26.9 2,975.8 2,973.1
9.875% Senior unsecured notes due 2015 783.5 783.5
10.55% Senior unsecured notes due 2015 (previously senior PIK notes (b)) 748.4 675.3
11.25% Senior unsecured subordinated notes due 2016 2,500.0 2,500.0
4.70% Unsecured notes due 2013, net of unamortized discount of $1.1 and $1.8 14.0 13.3
4.85% Unsecured notes due 2014, net of unamortized discount of $0.5 and $0.6 3.3 3.2
4.95% Unsecured notes due 2015, net of unamortized discount of $1.5 and $1.9 8.3 7.9
Capital lease obligations 102.2 65.9
Total long-term borrowings 22,521.7 22,438.8
Total borrowings $ 22,655.1 $ 22,709.3
(a) Unamortized discount amounts are as of December 31, 2011 and 2010, respectively.
(b) Payment In-Kind ("PIK")
Short-Term Borrowings
FDC had approximately $341 million and $428 million available under short-term lines of credit and other arrangements with
foreign banks and alliance partners primarily to fund settlement activity, as of December 31, 2011 and 2010, respectively. These
arrangements are primarily associated with international operations and are in various functional currencies, the most significant of
which are the Australian dollar, the Polish zloty and the euro. The total amounts outstanding against short-term lines of credit and
other arrangements were $76.4 million and $180.3 million as of December 31, 2011 and 2010, respectively. Certain of these
arrangements are uncommitted but FDC had $74.0 million and $150.6 million of borrowings outstanding against them as of
December 31, 2011 and 2010, respectively. The weighted average interest rates associated with these arrangements were 5.0% and
4.0% for the years ended December 31, 2011 and 2010, respectively. Commitment fees for the committed lines of credit range from
0.36% to 2.0%.
Senior Secured Credit Facilities
Senior Secured Revolving Credit Facility. As of December 31, 2011, FDC had a $2.0 billion senior secured revolving credit
facility with commitments from financial institutions to provide $1,515.3 million of credit after being reduced by a $254.1 million
permanent reduction discussed in "Modifications and Amendments to the Senior Secured Credit Facilities" below and a $230.6
million commitment by an affiliate of Lehman Brothers Holdings Inc. that was terminated in June 2011. A portion of the revolving
credit facility, $499.1 million, matures on September 24, 2013 while the remaining $1,016.2 million matures between June 24, 2015
and September 24, 2016 subject to certain conditions.
Up to $500 million of the senior secured revolving credit facility is available for letters of credit (of which $45.0 million and
$51.9 million of letters of credit were issued under the facility as of December 31, 2011 and 2010, respectively). As of December 31,
2011, $1,470.3 million remained available.
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