v2.4.0.8

Notes Payable | 6 Months Ended
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Jun. 30, 2013
Notes Payable [Abstract] |
Notes Payable | Note 11 – Notes Payable Notes payable are summarized as follows (dollars in thousands):
Name of Note Payable or Security | June 30, 2013 Interest Rate | December 31, 2012 Interest Rate | Maturity Date |  | June 30, 2013 Balance |  | December 31, 2012 Balance
Trust Preferred Securities | 4.28% | 4.31% | April 30, 2027 | $ | 27,913 | $ | 27,913
Australian NAB Corporate Term Loan | 5.22% | 5.82% | June 30, 2014 |  | 62,322 |  | 75,349
Australian NAB Corporate Revolver | 5.22% | 5.82% | June 30, 2014 |  | -- |  | --
Australian Shopping Center Loans | -- | -- | 2013-2014 |  | 137 |  | 208
New Zealand Corporate Credit Facility | 4.70% | 4.70% | March 31, 2015 |  | 21,714 |  | 23,148
US Bank of America Revolver | 3.28% | 3.26% | October 31, 2017 |  | 33,250 |  | 30,000
US Bank of America Line of Credit | 3.20% | 3.21% | October 31, 2017 |  | -- |  | 2,007
US Cinema 1, 2, 3 Term Loan | 5.20% | 5.24% | June 27, 2014 |  | 15,000 |  | 15,000
US Liberty Theaters Term Loan | -- | 6.20% | April 1, 2013 |  | -- |  | 6,429
US Minetta & Orpheum Theatres Loan | 2.94% | -- | June 1, 2018 |  | 7,500 |  | --
US Nationwide Loan 1 | -- | 8.50% | February 21, 2013 |  | -- |  | 593
US Sutton Hill Capital Note – Related Party | -- | 8.25% | June 18, 2013 |  | -- |  | 9,000
US Union Square Theatre Term Loan | 5.92% | 5.92% | May 1, 2015 |  | 6,835 |  | 6,950
Total |  |  |  | $ | 174,671 | $ | 196,597
Derivative Instruments As indicated in Note 17 – Derivative Instruments, for both our Australian NAB Corporate Credit Facility (“NAB Loan”) and our U.S. Bank of America Revolver (“BofA Revolver”), we have entered into interest rate swap agreements for all or part of these facilities. The loan agreement together with the swap results in us paying a total fixed interest rate of 7.90% (5.50% swap contract rate plus a 2.40% margin under the loan) for our NAB Loan and a total fixed interest rate of 4.44% (1.44% swap contract rate plus a 3.00% margin under the loan) for our BofA Revolver instead of the above indicated 5.70% and 3.28%, respectively, which are the obligatorily disclosed loan rates. Additionally, on June 3, 2013, we entered into a new swap agreement for our BofA Revolver which will take effect on December 31, 2014 (see Note 17 – Derivative Instruments). Notes Payable Refinancing and Payoff US Bank of America Line of Credit On June 28, 2013, we repaid the entire $2.0 million outstanding balance on our $5.0 million Bank of America line of credit. US Sutton Hill Capital Note – Related Party On June 18, 2013, we repaid our 8.25% note to Sutton Hill Capital (“SHC”) for $9.0 million. As the debtor on this note was Sutton Hill Properties, LLC, in which we have a 75% interest, the note was, in effect, paid $6.75 million by us and $2.25 million by our co-investor. US Minetta and Orpheum Theatres Loan On May 29, 2013, we refinanced our Liberty Theaters loan with a $7.5 million loan securitized by our Minetta and Orpheum theatres, having a maturity date of June 1, 2018, and bearing an interest rate of LIBOR plus a 2.75% margin with a LIBOR rate cap of 4.00% plus the 2.75% margin. See Note 16 – Derivative Instruments. US Bank of America Revolver On March 25, 2013, Bank of America extended the borrowing limit on our BofA Revolver from $30.0 million to $35.0 million and we borrowed $5.0 million on this revolver. On April 1, 2013, we used $2.3 million of the revolver proceeds to partially repay our US Liberty Theaters Term Loan. US Cinema 1, 2, 3 Term Loan On March 20, 2013, pursuant to the loan agreement, we extended the term of our US Cinema 1, 2, 3 Term Loan by one year to June 28, 2014 for a renewal fee of $150,000.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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