First Data 2012 Annual Report Download - page 83

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 8: Borrowings
(a) Unamortized discount amounts are as of December 31, 2012 and 2011, respectively.
(b) Payment In-Kind (“PIK”)
Short-Term Borrowings
FDC had approximately $346 million and $341 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, 2012 and 2011, 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 euro and the Polish zloty. The total amounts outstanding against short-term lines of credit and
other arrangements were $177.2 million and $76.4 million as of December 31, 2012 and 2011, respectively. Certain of these
arrangements are uncommitted but FDC had $130.0 million and $74.0 million of borrowings outstanding against them as of
December 31, 2012 and 2011, respectively. The weighted average interest rates associated with these arrangements were 3.9% and
5.0% for the years ended December 31, 2012 and 2011, respectively. Commitment fees for the committed lines of credit range from
0.156% to 0.8%.
Senior Secured Credit Facilities
Senior Secured Revolving Credit Facility. As of December 31, 2012, FDC’ s senior secured revolving credit facility had
commitments from financial institutions to provide $1,515.3 million of credit. 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.
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As of December 31,
(in millions) 2012 2011
Short-term borrowings
Senior secured revolving credit facility $
—
$
—
Foreign lines of credit and other arrangements 177.2 76.4
Total short-term borrowings 177.2 76.4
Current portion of long-term borrowings (a):
4.70% Unsecured notes due 2013, net of unamortized discount of $0.4 14.7
—
Capital lease obligations 65.2 57.0
Total current portion of long-term borrowings 79.9 57.0
Long-term borrowings (a):
Senior secured term loan facility due 2014, net of unamortized discount of $1.3 and $9.8 253.9 6,554.9
Senior secured term loan facility due 2017, net of unamortized discount of $12.7 2,658.6
—
Senior secured term loan facility due March 2018, net of unamortized discount of $27.3 and
$27.2 4,633.3 4,626.2
Senior secured term loan facility due September 2018, net of unamortized discount of $21.4 728.6
—
7.375% Senior secured first lien notes due 2019, net of unamortized discount of $27.0 and
$15.0 1,568.0 735.0
8.875% Senior secured first lien notes due 2020, net of unamortized discount of $13.6 and
$15.4 496.4 494.6
6.75% Senior secured first lien notes due 2020, net of unamortized discount of $29.4 2,120.6
—
8.25% Senior secured second lien notes due 2021, net of unamortized discount of $14.3 and
$16.1 1,985.4 1,983.6
8.75%/10.00% PIK toggle senior secured second lien notes due 2022 (b), net of unamortized
discount of $7.3 and $8.1 992.7 991.9
12.625% Senior unsecured notes due 2021, net of unamortized discount of $21.5 and $24.2 2,978.5 2,975.8
9.875% Senior unsecured notes due 2015 783.5 783.5
10.55% Senior unsecured notes due 2015 (previously senior PIK notes (b)) 748.4 748.4
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
—
14.0
4.85% Unsecured notes due 2014, net of unamortized discount of $0.3 and $0.5 3.5 3.3
4.95% Unsecured notes due 2015, net of unamortized discount of $1.0 and $1.5 8.8 8.3
Capital lease obligations 68.7 102.2
Total long-term borrowings 22,528.9 22,521.7
Total borrowings $ 22,786.0 $22,655.1