Sally Beauty Supply 2007 Annual Report Download - page 109
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plus a premium, plus accrued and unpaid interest, and on or after November 15, 2010 and November 15, 2011, respectively, at par plus a premium declining
ratably to par, plus accrued and unpaid interest. Interest on the senior notes and senior subordinated notes is payable semi-annually.
On November 24, 2006, the Company entered into two interest rate swap agreements related to $500.0 million of the $1,070.0 million term loans A and B due in
2012 and 2013, respectively. See Note 13 for further information on the interest rate swap agreements.
Maturities of the Company's long-term debt are as follows (in thousands):
Fiscal Year:
2008 $ 16,700
2009 24,200
2010 24,200
2011 39,200
2012 95,600
Thereafter 1,574,800
$ 1,774,700
Capital leases and other 1,041
Less: current portion (17,147)
Total $ 1,758,594
At September 30, 2007 and 2006, the Company had no off balance sheet financing arrangements other than operating leases incurred in the ordinary course of
business as disclosed in Note 11, and outstanding letters of credit related to inventory purchases and self-insurance programs which totaled $9.4 million and
$3.0 million, respectively, at September 30, 2007 and 2006.
Sally Beauty Holdings, Inc. Stand-Alone Financial Information
Sally Beauty Holdings, Inc. is a holding company and has no material assets or operations other than ownership of equity interests of its subsidiaries. The
Company's operations are conducted almost entirely through its subsidiaries. As such, Sally Beauty depends on its subsidiaries for cash to meet its obligations or
to pay dividends. The agreements underlying the Company's credit facilities contain terms, which significantly restrict the ability of Sally Beauty's subsidiaries to
pay dividends or otherwise transfer assets to Sally Beauty.
Sally Investment Holdings LLC, which is a wholly-owned subsidiary of Sally Beauty and the direct parent of Sally Holdings LLC, does not have any assets or
operations of any kind. Prior to the Separation Transactions, Sally Beauty had no assets or operations of any kind. Summary financial data for Sally Beauty
F-27
Source: Sally Beauty Holding, 10-K, November 29, 2007