Senior Unsecured Notes
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Dec. 31, 2011
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Senior Unsecured Notes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Unsecured Notes |
A summary of the Company's senior unsecured notes as of December 31, 2011 and 2010 is as follows: (dollars in thousands)
On December 15, 2010, the Company redeemed $300 million principal amount of its 7.75 percent senior unsecured notes due February 15, 2011. The redemption price, including a make-whole premium, was 101.225 percent of the principal amount of the notes, plus accrued and unpaid interest up to the redemption date. The Company funded the redemption price, including accrued and unpaid interest, of approximately $311.4 million from borrowing on its unsecured revolving credit facility, as well as cash on hand. In connection with the redemption, the Company recorded approximately $3.8 million as a loss from early extinguishment of debt in 2010.
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- Details
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- Definition
Description of an entity's senior unsecured notes No definition available.
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