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LONG-TERM DEBT

6 Months Ended

Jun. 30, 2012

7. LONG-TERM DEBT

Long-term debt consisted of the following (in thousands):

	June 30, 2012		December 31, 2011
Revolving credit facility due July 2016	$	356,500	$	433,500
Partnership’s revolving credit facility due November 2015	493,500		395,500
Partnership’s term loan facility due November 2015	150,000		150,000
4.25% convertible senior notes due June 2014 (presented net of the unamortized discount of $44.9 million and $54.9 million, respectively)	310,120		300,149
4.75% convertible senior notes due January 2014	143,750		143,750
7.25% senior notes due December 2018	350,000		350,000
Other, interest at various rates, collateralized by equipment and other assets	36		140
Long-term debt	$	1,803,906	$	1,773,039

In March 2012, the Partnership and EXLP Operating LLC, a wholly-owned subsidiary of the Partnership, increased the borrowing capacity under their revolving credit facility by $200 million to $750 million. During the three months ended March 31, 2012, the Partnership incurred transaction costs of approximately $0.5 million related to the increase in borrowing capacity. These costs were included in Intangible and other assets, net and are being amortized over the facility term. Concurrently with this increase, we decreased the borrowing capacity under our revolving credit facility by $200 million to $900 million. As a result of the decrease in borrowing capacity under our revolving credit facility, we expensed $1.3 million of unamortized deferred financing costs associated with our revolving credit facility in the first quarter of 2012, which is reflected in Interest expense in our condensed consolidated statements of operations.

In March 2011, we repaid the $6.0 million outstanding balance under our asset-backed securitization facility and terminated that facility. As a result of the termination, we expensed $1.4 million of unamortized deferred financing costs, which is reflected in Interest expense in our condensed consolidated statements of operations.

As of June 30, 2012, we had $356.5 million in outstanding borrowings and $195.9 million in outstanding letters of credit under our revolving credit facility. At June 30, 2012, taking into account guarantees through letters of credit, we had undrawn and available capacity of $347.6 million under our revolving credit facility.

As of June 30, 2012, the Partnership had $256.5 million of undrawn and available capacity under its revolving credit facility.