乐天堂fun88(中国区)官方网站 Corporation Registration of securities issued in business combination transactions

Registration of securities issued in business combination transactions

DEBT (Tables)

DEBT (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2012

Dec. 31, 2011

DEBT

听

Outstanding debt

听

听	听	September听30, 2012		听	December听31, 2011		听

Senior Credit Facilities:	听	听	听	听	听	听	听
Term loans	听	$	1,613	听	$	1,696	听
Amounts outstanding under A/R programs	听	听	237	听	听	237	听
Senior notes	听	听	490	听	听	472	听
Senior subordinated notes	听	听	892	听	听	976	听
HPS (China) debt	听	听	109	听	听	167	听
Variable interest entities	听	听	266	听	听	281	听
Other	听	听	73	听	听	113	听
听	听	听		听	听		听
Total debt-excluding debt to affiliates	听	$	3,680	听	$	3,942	听
听	听	听		听	听		听
Total current portion of debt	听	$	130	听	$	212	听
Long-term portion	听	听	3,550	听	听	3,730	听
听	听	听		听	听		听
Total debt-excluding debt to affiliates	听	$	3,680	听	$	3,942	听
听	听	听		听	听		听
Total debt-excluding debt to affiliates	听	$	3,680	听	$	3,942	听
Notes payable to affiliates-current	听	听	100	听	听	100	听
Notes payable to affiliates-noncurrent	听	听	610	听	听	439	听
听	听	听		听	听		听
Total debt	听	$	4,390	听	$	4,481	听
听	听	听		听	听		听

听

听	听	December听31,					听

听	听	2011		听	2010		听
Senior Credit Facilities:	听	听	听	听	听	听	听
Term loans	听	$	1,696	听	$	1,688	听
Amounts outstanding under A/R programs	听	听	237	听	听	238	听
Senior notes	听	听	472	听	听	452	听
Subordinated notes	听	听	976	听	听	1,279	听
HPS (China) debt	听	听	167	听	听	188	听
Variable interest entities	听	听	281	听	听	200	听
Other	听	听	113	听	听	101	听
听	听	听		听	听		听
Total debt-excluding debt to affiliates	听	$	3,942	听	$	4,146	听
听	听	听		听	听		听
Total current portion of debt	听	$	212	听	$	519	听
Long-term portion	听	听	3,730	听	听	3,627	听
听	听	听		听	听		听
Total debt-excluding debt to affiliates	听	$	3,942	听	$	4,146	听
听	听	听		听	听		听
Total debt-excluding debt to affiliates	听	$	3,942	听	$	4,146	听
Notes payable to affiliates-current	听	听	100	听	听	100	听
Notes payable to affiliates-noncurrent	听	听	439	听	听	439	听
听	听	听		听	听		听
Total debt	听	$	4,481	听	$	4,685	听
听	听	听		听	听		听

Schedule of Senior Credit Facilities

听

Facility	听	Committed Amount		听	Principal Outstanding		听	Carrying Value		听	Interest Rate(2)		听	Maturity		听

Revolving Facility	听	$	400	听	$	-	(1)	$	-	(1)	听	USD LIBOR plus 2.50	%	听	2017	(3)
Term Loan B	听	听	NA	听	听	243	听	听	243	听	听	USD LIBOR plus 1.50	%	听	2014	听
Extended Term Loan B	听	听	NA	听	听	637	听	听	637	听	听	USD LIBOR plus 2.50	%	听	2017	(3)
Extended Term Loan B-Series听2	听	听	NA	听	听	342	听	听	342	听	听	USD LIBOR plus 2.75	%	听	2017	(3)
Term Loan C	听	听	NA	听	听	419	听	听	391	听	听	USD LIBOR plus 2.25	%	听	2016	听

(1): We had no borrowings outstanding under our Revolving Facility; we had approximately $19听million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Facility.
(2): The applicable interest rate of the Senior Credit Facilities is subject to certain secured leverage ratio thresholds. As of September听30, 2012, the weighted average interest rate on our outstanding balances under the Senior Credit Facilities was approximately 3%.
(3): The maturity of the Revolving Facility commitments will accelerate if we do not repay, refinance or have a minimum level of liquidity available to enable us to repay our 5.50% senior notes due 2016, Term Loan B due April听19, 2014 and Term Loan C due June听30, 2016. The maturity of Extended Term Loan B and Extended Term Loan B-Series听2 will accelerate if we do not repay, refinance or have a minimum level of liquidity available to enable us to refinance or repay our 5.50% senior notes due 2016 that remain outstanding during the three months prior to the maturity date of such notes.

听

Facility	听	Committed Amount		听	Principal Outstanding		听	Carrying Value		听	Interest Rate(2)	听	Maturity		听

Revolving Facility	听	$	300	听	$	-	听	$	-	(1)	USD LIBOR plus 3.00%	听	听	2014	(3)
Term Loan B	听	听	NA	听	$	652	听	$	652	听	USD LIBOR plus 1.50%	听	听	2014	(3)
Term Loan C	听	听	NA	听	$	427	听	$	394	听	USD LIBOR plus 2.25%	听	听	2016	(3)
Extended Term Loan B	听	听	NA	听	$	650	听	$	650	听	USD LIBOR plus 2.50%	听	听	2017	(3)

(1): We had no borrowings outstanding under our Revolving Facility; we had approximately $20听million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Facility.
(2): The applicable interest rate of the Senior Credit Facilities is subject to certain secured leverage ratio thresholds. As of December听31, 2011, the weighted average interest rate on our outstanding balances under the Senior Credit Facilities was approximately 2%.
(3): The maturity of the Extended Term Loan B will accelerate if we do not repay, refinance or have a minimum level of liquidity available to enable us to refinance or repay our outstanding 5.50% senior notes due 2016 at least three months prior to the maturity date of such notes.

Schedule of A/R Programs

听

December听31, 2011

Facility	听	Maturity	听	Maximum Funding Availability(1)	听	Amount Outstanding	听	Interest Rate(2)(3)
U.S. A/R Program	听	April 2014	听	$250	听	$90(4)	听	Applicable Rate plus 1.50% - 1.65%
EU A/R Program	听	April 2014	听	鈧�225 (approximately $291)	听	鈧�114 (approximately $147)	听	Applicable Rate plus 2.0%

听

December听31, 2010

Facility	听	Maturity	听	Maximum Funding Availability(1)	听	Amount Outstanding	听	Interest Rate(2)(3)
U.S. A/R Program	听	October 2012	听	$125	听	$27.5	听	USD LIBOR rate plus 3.75%
U.S. A/R Program	听	October 2011	听	$125	听	$27.5	听	CP rate plus 3.50%
EU A/R Program	听	October 2011	听	鈧�225 (approximately $297)	听	鈧�139 (approximately $183)	听	GBP LIBOR rate, USD LIBOR rate or EURIBOR rate plus 3.75%

(1): The amount of actual availability under the A/R Programs may be lower based on the level of eligible receivables sold, changes in the credit ratings of our customers, customer concentration levels, and certain characteristics of the accounts receivable being transferred, as defined in the applicable agreements.
(2): Each interest rate is defined in the applicable agreements. In addition, the U.S. SPE and the EU SPE are obligated to pay unused commitment fees to the lenders based on the amount of each lender's commitment.
(3): Applicable rate for the U.S. A/R Program is defined by the lender as either USD LIBOR or CP rate. Applicable rate for the EU A/R Program is either GBP LIBOR, USD LIBOR or EURIBOR.
(4): As of December听31, 2011 we had approximately $4听million (U.S. dollar equivalents) of letters of credit issued and outstanding under our U.S. A/R Program.

听听听听听听听听

Summary of outstanding notes

听

Notes	听	Maturity	听	Interest Rate		听	Amount Outstanding

Senior Notes	听	June 2016	听	听	5.500	%(1)	$600 ($472 carrying value)
Senior Subordinated Notes	听	March 2021	听	听	8.625	%	$530 ($543 carrying value)
Senior Subordinated Notes	听	March 2020	听	听	8.625	%	$350
Senior Subordinated Notes	听	January 2015	听	听	7.500	%	聙64 (approximately $83)

(1): The effective interest rate at issuance was 11.73%.

Redemption of Notes and Loss on Early Extinguishment of Debt

听

Date of Redemption	听	Notes	听	Principal Amount of Notes Redeemed	听	Amount Paid (Excluding Accrued Interest)	听	Loss on Early Extinguishment of Debt		听

March听26, 2012	听	7.50% Senior Subordinated Notes due 2015	听	聙听听64 (approximately $86)	听	聙听听65 (approximately $87)	听	$	1	听
Three months ended September听30, 2011	听	6.875% Senior Subordinated Notes due 2013	听	聙听听14 (approximately $19)	听	聙听听14 (approximately $19)	听	$	-	听
Three months ended September听30, 2011	听	7.50% Senior Subordinated Notes due 2013	听	聙听听12 (approximately $17)	听	聙听听12 (approximately $17)	听	$	-	听
July听25, 2011	听	7.375% Senior Subordinated Notes due 2013	听	$听听75	听	$听听77	听	$	2	听
January听18, 2011	听	7.375% Senior Subordinated Notes due 2015	听	$100	听	$102	听	$	3	听

听

Date of Redemption	听	Notes	听	Principal Amount of Notes Redeemed	听	Amount Paid (Excluding Accrued Interest)	听	Loss on Early Extinguishment of Debt		听

Three months ended December听31, 2011	听	6.875% Senior Subordinated Notes due 2013	听	鈧�70 (approximately $94)	听	鈧�71 (approximately $96)	听	$	2	听
Three months ended September听30, 2011	听	6.875% Senior Subordinated Notes due 2013	听	鈧�14 (approximately $19)	听	鈧�14 (approximately $19)	听	$	-	听
Three months ended September听30, 2011	听	7.5% Senior Subordinated Notes due 2015	听	鈧�12 (approximately $17)	听	鈧�12 (approximately $17)	听	$	-	听
July听25, 2011	听	7.375% Senior Subordinated Notes due 2015	听	$75	听	$77	听	$	2	听
January听18, 2011	听	7.375% Senior Subordinated Notes due 2015	听	$100	听	$102	听	$	3	听
November听29, 2010	听	7.875% Senior Subordinated Notes due 2014	听	$88	听	$92	听	$	3	听
November听26, 2010	听	7.875% Senior Subordinated Notes due 2014	听	$100	听	$104	听	$	4	听
October听12, 2010	听	7.875% Senior Subordinated Notes due 2014	听	$159	听	$165	听	$	7	听
September听27, 2010	听	6.875% Senior Subordinated Notes due 2013	听	鈧�132 (approximately $177)	听	鈧�137 (approximately $183)	听	$	7	听
March听17, 2010	听	6.875% Senior Subordinated Notes due 2013	听	鈧�184 (approximately $253)	听	鈧�189 (approximately $259)	听	$	7	听
March听17, 2010	听	7.50% Senior Subordinated Notes due 2015	听	鈧�59 (approximately $81)	听	鈧�59 (approximately $81)	听	$	2	听

Scheduled maturities of our debt (excluding debt to affiliates)

听

Year ending December听31	听	听		听

2012	听	$	212	听
2013	听	听	86	听
2014	听	听	973	听
2015	听	听	135	听
2016	听	听	897	听
Thereafter	听	听	1,639	听
听	听	听		听
听	听	$	3,942	听
听	听	听		听

- Definition

Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax.

+ References + Details