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Long-Term Debt | 3 Months Ended
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Mar. 31, 2015
Long-Term Debt |
Long-Term Debt | 8. Long-Term Debt Long-term debt consisted of the following (in thousands):
|  | March 31, 2015 |  | December 31, 2014 |
Revolving credit facility due July 2016 |  | $ | 354,000 |  | $ | 375,500 |
Partnership’s revolving credit facility due May 2018 |  | 502,000 |  | 460,000 |
Partnership’s term loan facility due May 2018 |  | 150,000 |  | 150,000 |
Partnership’s 6% senior notes due April 2021 (presented net of the unamortized discount of $4.3 million and $4.5 million, respectively) |  | 345,677 |  | 345,528 |
Partnership’s 6% senior notes due October 2022 (presented net of the unamortized discount of $5.1 million and $5.2 million, respectively) |  | 344,904 |  | 344,767 |
7.25% senior notes due December 2018 |  | 350,000 |  | 350,000 |
Other, interest at various rates, collateralized by equipment and other assets |  | 994 |  | 1,107 |
Long-term debt |  | $ | 2,047,575 |  | $ | 2,026,902 |
Exterran Senior Secured Credit Facility As of March 31, 2015, we had $354.0 million in outstanding borrowings and $91.3 million in outstanding letters of credit under our senior secured revolving credit facility (the “Credit Facility”). At March 31, 2015, taking into account guarantees through letters of credit, we had undrawn and available capacity of $454.7 million under the Credit Facility. The Partnership Revolving Credit Facility and Term Loan In February 2015, the Partnership amended its senior secured credit agreement (the “Partnership Credit Agreement”), which among other things, increased the borrowing capacity under its revolving credit facility by $250.0 million to $900.0 million. The Partnership Credit Agreement, which matures in May 2018, also includes a $150.0 million term loan facility. During the three months ended March 31, 2015, the Partnership incurred transaction costs of $1.3 million related to the amendment of the Partnership Credit Agreement. These costs were included in intangible and other assets, net, and are being amortized over the term of the facility. As of March 31, 2015, the Partnership had undrawn capacity of $398.0 million under its revolving credit facility. The Partnership Credit Agreement limits the Partnership’s ratio of Total Debt (as defined in the Partnership Credit Agreement) to EBITDA (as defined in the Partnership Credit Agreement) to not greater than 5.25 to 1.0 (subject to a temporary increase to 5.5 to 1.0 following the occurrence of certain events specified in the Partnership Credit Agreement). Because the August 2014 MidCon Acquisition closed during the third quarter of 2014, the Partnership’s Total Debt to EBITDA ratio threshold was temporarily increased to 5.5 to 1.0 during the quarter ended September 30, 2014 and continued at that level through March 31, 2015. As a result of this limitation, $354.7 million of the $398.0 million of undrawn capacity under the Partnership’s revolving credit facility was available for additional borrowings as of March 31, 2015. If the maximum allowed ratio of Total Debt to EBITDA had been 5.25 to 1.0 at March 31, 2015, then $277.5 million of the $398.0 million of undrawn capacity under the Partnership’s revolving credit facility would have been available for additional borrowings as of March 31, 2015.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
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