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Debt | 12 Months Ended
--- | ---
Dec. 31, 2016
Debt Disclosure [Abstract] |
DEBT | DEBT
| December 31, 2016 |  | December 31, 2015
In thousands | Current |  | Non-Current |  | Current |  | Non-Current
Senior Notes, net(1) | $ | — |  |  | $ | 175,991 |  |  | $ | — |  |  | $ | 373,433 |
3.25% Convertible Senior Notes due 2028 | — |  |  | — |  |  | — |  |  | 712 |
Term Loan due 2020, net(2) | — |  |  | — |  |  | 1,000 |  |  | 93,489 |
San Bartolomé Lines of Credit | — |  |  | — |  |  | — |  |  | 4,571 |
Capital lease obligations | 12,039 |  |  | 22,866 |  |  | 9,431 |  |  | 7,774 |
| $ | 12,039 |  |  | $ | 198,857 |  |  | $ | 10,431 |  |  | $ | 479,979 |
(1) Net of unamortized debt issuance costs and premium received of $2.0 million and $5.3 million at December 31, 2016 and December 31, 2015, respectively. (2) Net of unamortized debt issuance costs of $5.0 million at December 31, 2015. 7.875% Senior Notes due 2021 In December 2016, the Company redeemed $190.0 million aggregate principal amount of its Senior Notes. The “make-whole premium” redemption price payment of $9.0 million was calculated in accordance with the terms and conditions of the Notes. The redemption of the Senior Notes resulted in a loss of $11.3 million. In August 2016, the Company entered into two privately-negotiated agreements to exchange $10.8 million in aggregate principal amount of its Senior Notes for 0.7 million shares of common stock. Based on the closing price of the Company's common stock on the date of the exchange, the exchange resulted in a loss of $1.2 million. In November 2015, the Company entered into a privately-negotiated agreement to exchange $54.2 million in aggregate principal amount of its Senior Notes for 14.4 million shares of common stock. Based on the closing price of the Company's common stock on the date of the exchange, the exchange resulted in a gain of $15.9 million. During 2015 and 2014, the Company repurchased $71.3 million in aggregate principal amount of the Senior Notes. On or after February 1, 2017, the Company may redeem some or all of the Senior Notes at the applicable redemption prices set forth in the Indenture for the Senior Notes, together with accrued and unpaid interest. In March 2014, the Company completed a follow-on offering of $150 million in aggregate principal amount of the Senior Notes (the “Additional Notes”) in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Additional Notes constitute a further issuance of the Original Notes (as defined below) and form a single series of debt securities with the Original Notes. Upon completion of Coeur’s offering of the Additional Notes, the aggregate principal amount of the outstanding Senior Notes was $450.0 million. The Company commenced an exchange offer for the Additional Notes on April 10, 2014 to exchange the Additional Notes for freely transferable notes containing substantially similar terms, in accordance with the registration rights granted to the holders of the Additional Notes when they were issued. The exchange offer was consummated on May 9, 2014. 3.25% Convertible Senior Notes due 2028 In July 2016, all outstanding Convertible Notes were redeemed for $0.7 million. Term Loan due 2020 In July 2016, the Company voluntarily terminated and repaid the Term Loan for $103.4 million including the $99.0 million remaining principal balance and a $4.4 million prepayment premium. The termination of the Term Loan resulted in a loss of $8.8 million. In July 2015, the Company and certain of its subsidiaries entered into a credit agreement for the Term Loan with Barclays Bank PLC, as administrative agent (the “Term Loan Credit Agreement”). The Term Loan Credit Agreement provided for a five year $100.0 million term loan to the Company, of which a portion of the proceeds were used to repay the Short-term Loan, and the remaining proceeds were used for general corporate purposes. The obligations under the Term Loan were secured by substantially all of the assets of the Company and its domestic subsidiaries, including the land, mineral rights and infrastructure at the Kensington, Rochester and Wharf mines, as well as a pledge of the shares of certain of the Company's subsidiaries. Lines of Credit At December 31, 2016, San Bartolomé had an available line of credit for $12.0 million that matures in June 30, 2018, bearing interest at 6.0% per annum, which is secured with machinery and equipment. There was no outstanding balance at December 31, 2016. At December 31, 2015, San Bartolomé had two outstanding lines of credit. The first line of credit was for $12.0 million bearing interest at 6.0% per annum, maturing June 30, 2018. The second line of credit was for $15.0 million bearing interest at 6.0% per annum that matured on December 29, 2016. Both lines of credit were secured with machinery and equipment. There was an outstanding balance of $4.6 million on the second line of credit at December 31, 2015. Short-term Loan In March 2015, the Company entered into a credit agreement (the “Short-term Credit Agreement”) with The Bank of Nova Scotia. The Short-term Credit Agreement provided for a $50.0 million loan (the “Short-term Loan”) to the Company. On June 25, 2015, the Short-term Loan was repaid in full, the security for the Short-term Loan was released, and the Short-term Credit Agreement was terminated. Capital Lease Obligations From time to time, the Company acquires mining equipment under capital lease agreements. In 2016, the Company entered into new lease financing arrangements primarily for a larger haul truck fleet at its Rochester mine and mining equipment to support the continued underground mine expansion at the Palmarejo complex. All capital lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments. Minimum future lease payments under capital and operating leases with terms longer than one year are as follows:
At December 31, (In thousands) |  |
| Operating leases | Capital leases
2017 | $ | 13,709 |  | $ | 13,292 |
2018 | 5,514 |  | 10,968 |
2019 | 5,304 |  | 6,481 |
2020 | 3,891 |  | 3,675 |
2021 | 3,095 |  | 2,886 |
Thereafter | 8,716 |  | 44 |
Total | $ | 40,229 |  | $ | 37,346 |
Less: imputed interest | — |  | (2,441 | )
Net lease obligation | $ | 40,229 |  | $ | 34,905 |
Interest Expense
| Year ended December 31,
In thousands | 2016 |  | 2015 |  | 2014
7.875% Senior Notes due 2021 | $ | 28,871 |  |  | $ | 33,437 |  |  | $ | 32,741 |
3.25% Convertible Senior Notes due 2028 | 13 |  |  | 54 |  |  | 173 |
Term Loan due 2020 | 4,939 |  |  | 4,719 |  |  | — |
Short-term Loan | — |  |  | 326 |  |  | — |
San Bartolomé Lines of Credit | 15 |  |  | 795 |  |  | — |
Revolving Credit Facility | — |  |  | — |  |  | 179 |
Loss on Revolving Credit Facility | — |  |  | — |  |  | 3,035 |
Capital lease obligations | 1,437 |  |  | 1,035 |  |  | 972 |
Accretion of Palmarejo gold production royalty obligation | 1,211 |  |  | 6,567 |  |  | 10,773 |
Amortization of debt issuance costs | 1,933 |  |  | 2,257 |  |  | 1,740 |
Accretion of debt premium | (345 | ) |  | (409 | ) |  | (357 | )
Other debt obligations | 72 |  |  | 20 |  |  | — |
Capitalized interest | (1,226 | ) |  | (3,098 | ) |  | (1,710 | )
Total interest expense, net of capitalized interest | $ | 36,920 |  |  | $ | 45,703 |  |  | $ | 47,546 |

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- Definition The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References No definition available. + Details
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