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REVOLVING CREDIT FACILITY AND UNSECURED TERM LOANS (Tables)
12 Months Ended
Dec. 31, 2014
REVOLVING CREDIT FACILITY AND UNSECURED TERM LOANS  
Schedule of amendment of the term loan facility

 

 

 

 

 

Term Loan Facility Prior to Amendments

 

Term Loan Facility As Amended

 

 

 

 

 

 

 

LIBOR Spread

 

 

 

LIBOR Spread

 

 

 

Amount

 

Maturity Date

 

Baa3/BBB-

 

Baa2/BBB

 

Maturity Date

 

Baa3/BBB-

 

Baa2/BBB

 

Term Loan A

 

$

100 million

 

June 2016

 

1.85 

%

1.65 

%

June 2018

 

1.50 

%

1.30 

%

Term Loan B

 

$

100 million

 

June 2018

 

2.00 

%

1.80 

%

January 2020

 

1.40 

%

1.15 

%

 

Schedule of amendment of the credit facility

 

 

 

 

 

Credit Facility Prior to Amendments

 

Credit Facility As Amended

 

 

 

 

 

 

 

LIBOR Spread

 

 

 

LIBOR Spread

 

 

 

Amount

 

Maturity Date

 

Baa3/BBB-

 

Baa2/BBB

 

Maturity Date

 

Baa3/BBB-

 

Baa2/BBB

 

Revolver

 

$

300 million

 

December 2015

 

1.80 

%

1.50 

%

June 2017

 

1.60 

%

1.30 

%

Term Loan C (1)

 

$

100 million

 

December 2014

 

1.75 

%

1.45 

%

December 2014

 

1.50 

%

1.30 

%

Term Loan D

 

$

200 million

 

March 2017

 

1.75 

%

1.45 

%

January 2019

 

1.50 

%

1.30 

%

 

 

(1)

On December 17, 2013, the Company repaid the $100 million balance under Term Loan C that was scheduled to mature in December 2014.