iHeartMedia 2000 Annual Report Download - page 69

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69
NOTE D - LONG-TERM DEBT
Long-term debt at December 31, 2000 and 1999 consisted of the following:
(In thousands)
December 31,
2000 1999
Revolving line of credit facilities $ 3,203,756 $ 743,750
Multi-currency revolving line of credit facility 483,868
Senior Notes:
1.5% Convertible Notes Due 2002 1,000,000 1,000,000
Floating Rate Notes Due 2002 250,000
2.625% Convertible Notes Due 2003 575,000 575,000
7.25% Senior Notes Due 2003 750,000
7.875% Notes Due 2005 750,000
6.5% Notes (denominated in Euro) Due 2005 612,560
6.6250% Senior Notes Due 2008 125,000 125,000
7.65% Senior Notes Due 2010 750,000
6.875% Senior Debentures Due 2018 175,000 175,000
7.25% Debentures Due 2027 300,000 300,000
Various subsidiary level notes 1,441,070 571,405
Other long-term debt 235,378 168,130
10,167,764 4,142,153
Less: current portion 67,736 48,610
Total long-term debt $10,100,028 $ 4,093,543
Revolving Line of Credit Facilities
The Company has three separate revolving lines of credit facilities. Interest rates for each facility are
based upon prime, LIBOR, or Federal funds rates at the Company’ s discretion. The first is a $1.9 billion
revolving long-term line of credit facility payable to banks, which converted into a reducing revolving
line of credit on the last business day of September 2000, with quarterly repayment of the principal to
continue through the last business day of June 2005, when the commitment must be paid in full. At
December 31, 2000, $1.8 billion was outstanding and $.1 billion was available for future borrowings.
The second is a new $1.5 billion credit facility, entered into in August 2000. This is a five-year multi-
currency revolving credit facility. At December 31, 2000, $1.3 billion was outstanding and $.2 billion
was available for future borrowings. The third is a $1.5 billion credit facility that is a 364-day revolving
credit facility, which the Company has the option upon maturity to convert into a term loan with a five-
year maturity. At December 31, 2000, the outstanding balance was $.1 billion and $1.4 billion was
available for future borrowings.
At December 31, 2000, interest rates on the revolving line of credit facilities varied from 5.575% to
7.335%.