Send us Feedback

Exide Technologies (XIDE)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

XIDE » Topics » Interest Rate Risk

This excerpt taken from the XIDE 10-K filed Jun 4, 2009.
Interest Rate Risk
 
The Company is exposed to interest rate risk on its variable rate, long-term debt. In February 2008, the Company entered into an interest rate swap agreement to fix the variable component of interest on $200.0 million of its floating rate long-term obligations through February 27, 2011. See Note 2 to the Consolidated Financial Statements.


41

Table of Contents

The following table presents the expected outstanding debt balances and related interest rates, excluding capital lease obligations and lines of credit, under the terms of the Company’s borrowing arrangements in effect at March 31, 2009.
 
                                                 
    For the Fiscal Year(s) Ended March 31  
                                  2015 and
 		 
                                  2012 and
 		 
    2010     2011     2012     2013     2014     Beyond  
 
10.5% Senior Secured Notes
  $ 290,000     $ 290,000     $ 290,000       n/a       n/a       n/a  
Fixed Interest Rate
    10.5 %     10.5 %     10.5 %     n/a       n/a       n/a  
Floating Rate Convertible Senior Subordinated Notes
  $ 60,000     $ 60,000     $ 60,000     $ 60,000       n/a       n/a  
Variable Interest Rate(a)
    0.0 %     0.0 %     0.0 %     0.0 %     n/a       n/a  
Senior Secured Credit Facility
  $ 285,131     $ 282,297     $ 279,462       n/a       n/a       n/a  
Variable Interest Rate on Senior Secured Credit Facility(a)
    6.0 %     6.0 %     6.0 %     n/a       n/a       n/a  
 
 
(a) Variable components of interest rates based upon market rates at March 31, 2009. See Note 7 to the Consolidated Financial Statements.
 
Item 8.   Financial Statements and Supplementary Data
 
See Index to Financial Statements at page F-1.
 
Item 9.   Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
 
None.
 
Item 9A.   Controls and Procedures
 
This excerpt taken from the XIDE 10-K filed Jun 9, 2008.
Interest Rate Risk
 
The Company is exposed to interest rate risk on its variable rate, long-term debt. In February 2008, the Company entered into an interest rate swap agreement to fix the variable component of interest on $200.0 million of its floating rate long-term obligations at a rate of 3.45% per annum through February 27, 2011. See Note 2 to the Consolidated Financial Statements.


43

Table of Contents

The following table presents the expected outstanding debt balances and related interest rates, excluding capital lease obligations and lines of credit, under the terms of the Company’s borrowing arrangements in effect at March 31, 2008.
 
                                                 
    For the Fiscal Year(s) Ended March 31  
                                  2014 and
 		 
    2009     2010     2011     2012     2013     Beyond  
 
10.5% Senior Secured Notes
  $ 290,000     $ 290,000     $ 290,000     $ 290,000       n/a       n/a  
Fixed Interest Rate
    10.5 %     10.5 %     10.5 %     10.5 %     n/a       n/a  
Floating Rate Convertible Senior Subordinated Notes
  $ 60,000     $ 60,000     $ 60,000     $ 60,000     $ 60,000       n/a  
Variable Interest Rate(a)
    1.3 %     1.3 %     1.3 %     1.3 %     1.3 %     n/a  
Senior Secured Credit Facility
  $ 303,335     $ 300,351     $ 297,367     $ 294,382       n/a       n/a  
Variable Interest Rate(a)
    6.7 %     6.7 %     6.7 %     6.7 %     n/a       n/a  
 
 
(a) Variable components of interest rates based upon market rates at March 31, 2008. See Note 7 to the Consolidated Financial Statements.
 
Item 8.   Financial Statements and Supplementary Data
 
See Index to Financial Statements at page F-1.
 
Item 9.   Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
 
None.
 
Item 9A.   Controls and Procedures
 
This excerpt taken from the XIDE 10-K filed Jun 11, 2007.
Interest Rate Risk
 
The Company is exposed to interest rate risk on its variable rate long-term debt. The Company has on occasion entered into certain interest rate swap agreements to hedge exposure to interest costs associated with long-term debt. Interest rate swaps involve the exchange of floating rate interest payments to effectively convert floating rate debt into fixed rate debt. No such swaps were outstanding at March 31, 2007.
 
The following table presents the expected outstanding debt balances and related interest rates, excluding capital lease obligations and lines of credit, under the terms of the Company’s borrowing arrangements in effect at March 31, 2007.
 
                                                 
    For the Fiscal Year(s) Ended March 31:  
                                  2013 and
 		 
    2008     2009     2010     2011     2012     Beyond  
    (In thousands)  
 
10.5% Senior Secured Notes
  $ 290,000     $ 290,000     $ 290,000     $ 290,000     $ 290,000     $ —  
Fixed Interest Rate
    10.5 %     10.5 %     10.5 %     10.5 %     10.5 %     n/a  
Floating Rate Convertible Senior Subordinated Notes
  $ 60,000     $ 60,000     $ 60,000     $ 60,000     $ 60,000     $ —  
Variable Interest Rate(a)
    3.9 %     3.9 %     3.9 %     3.9 %     3.9 %     n/a  
Senior Secured Credit Facility(b)
  $ 297,263     $ 297,263     $ 297,263     $ —     $ —     $ —  
Variable Interest Rate(a)(b)
    11.1 %     11.1 %     11.1 %     n/a       n/a       n/a  
 
 
(a) Variable components of interest rates based upon market rates at March 31, 2007. See Note 9 to the Consolidated Financial Statements.
 
(b) Refinanced on May 15, 2007. See Note 22 to the Consolidated Financial Statements.
 
Item 8.   Financial Statements and Supplementary Data
 
See Index to Financial Statements at page F-1.
 
Item 9.   Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
 
None.


49

Table of Contents

This excerpt taken from the XIDE 10-K filed Jun 29, 2005.

Interest Rate Risk

 

The Company is exposed to interest rate risk on its variable rate long-term debt. The Company has on occasion entered into certain interest rate swap agreements to hedge exposure to interest costs associated with long-term debt. Interest rate swaps involve the exchange of floating rate interest payments to effectively convert floating rate debt into fixed rate debt. No such swaps were outstanding at March 31, 2005.

 

The following table presents the expected debt maturities, excluding capital lease obligations and lines of credit, under the terms of the Company’s borrowing arrangements at March 31, 2005.

 

     2006
     2007
     2008
     2009
     2010 and
thereafter
     Total
  
     (US$ equivalents in millions)  

Fixed rate

    $ 11,442     $ 392     $ 395     $ 454     $ 290,862     $ 303,544  

Weighted average interest rate

      5.0 %     0.5 %     0.5 %     1.1 %     10.5 %     10.2 %

Variable rate

    $ 9,992     $ 23,318     $ 26,650     $ 36,641     $ 229,868     $ 326,469  

Weighted average interest rate

      6.2 %     6.2 %     6.2 %     6.2 %     4.9 %     5.3 %

 

EXCERPTS ON THIS PAGE:

10-K
Jun 4, 2009
10-K
Jun 9, 2008
10-K
Jun 11, 2007
10-K
Jun 29, 2005

RELATED TOPICS for XIDE:

"Interest Rate Risk" elsewhere:

ABB (ABB)
Belden CDT (BDC)
China BAK Battery (CBAK)
Energizer Holdings (ENR)
Hydrogenics (HYGS)
Nidec Corporation (NJ)
Powell Industries (POWL)
ROCKWELL AUTOMATION (ROK)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki