Vistaprint 2015 Annual Report Download - page 86

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Other liabilities included the following:
June 30, 2015 June 30, 2014
Long-term capital lease obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 18,304 $ 8,875
Long-term derivative liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,816 665
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,953 34,880
Total other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 52,073 $ 44,420
11. Debt
June 30, 2015 June 30, 2014
7.0% Senior unsecured notes due 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 275,000 $ —
Senior secured credit facility (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 231,507 426,859
Other (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,536 —
Uncommitted credit facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500 21,200
Total debt outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 522,543 448,059
Less short-term debt (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,602 37,575
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 499,941 $ 410,484
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(1) Balances as of June 30, 2015 are inclusive of short-term and long-term debt discounts of $116 and $377, respectively.
(2) Balance as of June 30, 2015 represents various term loans assumed in conjunction with certain fiscal 2015 acquisitions.
Our Debt
Our various debt arrangements described below contain customary representations, warranties and events
of default. As of June 30, 2015, we were in compliance with all financial and other covenants related to our debt.
Indenture and Senior Unsecured Notes due 2022
On March 24, 2015, we completed a private placement of $275,000 in aggregate principal amount of 7.0%
senior unsecured notes due 2022 (the “Notes”). We issued the Notes pursuant to a senior notes indenture dated as
of March 24, 2015 among Cimpress N.V., our subsidiary guarantors, and MUFG Union Bank, N.A., as trustee (the
"Indenture"). We used the proceeds from the Notes to pay outstanding indebtedness under our unsecured line of
credit and our senior secured credit facility and for general corporate purposes.
The Notes bear interest at a rate of 7.0% per annum and mature on April 1, 2022. Interest on the Notes is
payable semi-annually on April 1 and October 1 of each year, commencing on October 1, 2015, to the holders of
record of the Notes at the close of business on March 15 and September 15, respectively, preceding such interest
payment date.
The Notes are senior unsecured obligations and rank equally in right of payment to all our existing and
future senior unsecured debt and senior in right of payment to all of our existing and future subordinated debt. The
Notes are effectively subordinated to any of our existing and future secured debt to the extent of the value of the
assets securing such debt. Subject to certain exceptions, each of our existing and future subsidiaries that is a
borrower under or guarantees our senior secured credit facilities will guarantee the Notes.
The Indenture contains various covenants, including covenants that, subject to certain exceptions, limit our
and our restricted subsidiaries’ ability to incur and/or guarantee additional debt; pay dividends, repurchase shares
or make certain other restricted payments; enter into agreements limiting dividends and certain other restricted
payments; prepay, redeem or repurchase subordinated debt; grant liens on assets; enter into sale and leaseback
transactions; merge, consolidate or transfer or dispose of substantially all of our consolidated assets; sell, transfer
or otherwise dispose of property and assets; and engage in transactions with affiliates.