| Long-term Debt Instruments |
Long-term debt consists of the following at June 30, 2013 and December 31, 2012:
(Amounts in Thousands) |
|
June 30,
2013
|
|
|
December
31, 2012
|
|
Revolving Credit facility dated October 31, 2011, borrowings based upon eligible accounts receivable, subject to monthly borrowing base calculation, variable interest paid monthly at our option of prime rate (3.25% at June 30, 2013) plus 2.0% or London Interbank Offer Rate ("LIBOR") plus 3.0%, balance due October 31, 2016. Effective interestrate for first six months of 2013 was 3.30%. (1)
|
|
$ |
1,671 |
|
|
$ |
— |
|
Term Loan dated October 31, 2011, payable in equal monthly installments of principal of $190, balance due in October 31, 2016, variable interest paid monthly at option of prime rate plus 2.5% or LIBOR plus 3.5%. Effectiveinterest rate for first six months of 2013 was 4.06%. (1)
|
|
|
12,381 |
|
|
|
13,524 |
|
Promissory Note dated September 28, 2010, payable in 36 monthly equal installments of $40, which includes interest and principal, beginning October 15, 2010, interest accrues at annual rate of 6.0%. (2)
|
|
|
119 |
|
|
|
352 |
|
Promissory Note dated February 12, 2013, payable in monthly installments of $10, which includes interest and principal, starting February 28, 2013, interest accrues at annual rate of 6.0%, balance due January 31, 2015. (2)
|
|
|
184 |
|
|
|
— |
|
Various capital lease and promissory note obligations, payable 2013 to 2014, interest at rates ranging from 5.2% to 8.0%. |
|
|
116 |
|
|
|
391 |
|
|
|
|
14,471 |
|
|
|
14,267 |
|
Less current portion of long-term debt |
|
|
2,568 |
|
|
|
2,794 |
|
Less long-term debt related to assets held for sale |
|
|
53 |
|
|
|
71 |
|
|
|
$ |
11,850 |
|
|
$ |
11,402 |
|
(1) Our Revolving Credit facility is collateralized by our accounts receivable and our Term Loan is collateralized by our property, plant, and equipment.
(2) Uncollateralized note.
|