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Financing Arrangements | 6 Months Ended
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Jun. 30, 2018
Debt Disclosure [Abstract] |
Financing Arrangements | Note 9. Financing Arrangements The outstanding principal amount of long-term debt (in thousands, except interest rates):
|  | June 30, 2018 |  | December 31, 2017 |  | Maturity |  | Interest Rate
European Investment Bank (1) |  | $ | 58,213 |  |  | $ | 69,893 |  |  | June 2021 |  |  | 0.95 | %
Mediocredito Italiano (2) |  | 8,406 |  |  | 9,118 |  |  | December 2023 |  |  | 0.50% - 3.10% |
Banca del Mezzogiorno (3) |  | 4,137 |  |  | 5,499 |  |  | December 2019 |  |  | 0.50% - 3.15% |
Region Wallonne |  | 756 |  |  | 845 |  |  | December 2023 and June 2033 |  |  | 0.00% - 2.45% |
Mediocredito Italiano - mortgages and other |  | 536 |  |  | 997 |  |  | September 2021 and September 2026 |  |  | 0.80% - 1.30% |
Bpifrance (ex-Oséo) |  | — |  |  | 1,450 |  |  | — |  |  | 2.58 | %
Total long-term facilities |  | 72,048 |  |  | 87,802 |  |  |  |  |
Less current portion of long-term debt |  | 21,635 |  |  | 25,844 |  |  |  |  |
Total long-term debt |  | $ | 50,413 |  |  | $ | 61,958 |  |  |  |  |
(1) | The European Investment Bank (“EIB”) loan was obtained in July 2014 to support product development projects. The interest rate for the EIB loan is reset by the lender each quarter based on the Euribor. Interest payments are paid quarterly and principal payments are paid semi-annually.
(2) | We obtained the Mediocredito Italiano Bank loan in July 2016 as part of the Fondo Innovazione Teconologica program implemented by the Italian Ministry of Education.
(3) | The Banca del Mezzogiorno loan was obtained in January 2015 to support R&D projects as a part of the Large Strategic Project program of the Italian Ministry of Education.
Revolving Credit The outstanding principal amount of our short-term unsecured revolving credit agreements and other agreements with various banks was $89.0 million and $58.2 million, at June 30, 2018 and December 31, 2017, respectively, with interest rates ranging from 0.1% to 9.3% and loan terms ranging from one day to 180 days. On April 10, 2018, we entered into an amendment and restatement agreement with Barclays Bank PLC amending the revolving facility agreement originally dated October 21, 2016 (the “Amendment”). The Amendment increases the borrowing capacity under the facility from $40.0 million to $70.0 million and extends the term of the facility one year, terminating October 20, 2019. Borrowings under the facility bear interest at a rate of LIBOR plus 0.85%. At June 30, 2018 this facility is fully utilized. In connection with the CRM sale, the borrowing capacity under our June 2017 finance contract with the European Investment Bank decreased from €100.0 million (approximately $116.4 million) to €90.0 million (approximately $104.8 million) and the availability for drawdowns was extended through December 31, 2020. Bridge Facility Agreement In connection with the April 2018 acquisition of TandemLife, LivaNova entered into a bridge facility agreement (the “Bridge Facility Agreement”) providing a term loan facility with the aggregate principal amount of $190.0 million. On April 3, 2018, we borrowed $190.0 million under the Bridge Facility Agreement to facilitate the initial payment for our acquisition of TandemLife. We used the proceeds from the sale of the CRM business franchise to repay the borrowings under the Bridge Facility Agreement in full during the second quarter of 2018.

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- Definition The entire disclosure for 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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