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This excerpt taken from the LDG 10-Q filed Aug 27, 2008. 8. Debt Debt consisted of the following:
The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of July 31, 2008, the Company was in compliance with the restrictions and limitations included in these provisions. These excerpts taken from the LDG 10-K filed Mar 19, 2008. 6. Debt
Debt at January 31, 2008 and January 25, 2007 consisted of the following:
The Company has a secured revolving line of credit agreement with a syndication of banks. The agreement expires in January 2012 and accrues interest at LIBOR-based rates. Borrowings on this line of credit are secured by inventory, accounts receivable and certain intangible assets. The secured revolving line of credit agreement contains customary restrictions but no financial covenants and no limitations on capital expenditures or share repurchases if availability of credit remains above a minimum level. On October 30, 2007, the Company exercised an option to increase its secured revolving line of credit facility’s borrowing and letter of credit capacity from $325 million to $400 million, with no change to its existing covenant requirements. Borrowings on the line of credit do not require repayment until the expiration date but may be prepaid without penalty. Letters of credit totaling $30.4 million were outstanding under the agreement as of January 31, 2008. The Company pays a monthly commitment fee of 0.25% per annum on the unused portion of the line of credit ($203 million as of January 31, 2008).
The private placement notes are secured on the same basis as the secured revolving line of credit. The private placement notes may be redeemed at the Company’s option prior to their scheduled maturities, subject to an early payment premium.
The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of January 31, 2008, the Company was in compliance with the restrictions and limitations included in these provisions.
As of January 31, 2008, future minimum principal payments on long-term debt were as follows (in thousands):
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Table of ContentsLONGS DRUG STORES CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
6. Debt
The Company has a
Company’s option prior to their scheduled maturities, subject to an early payment premium.
of January 31, 2008, the Company was in compliance with the restrictions and limitations included in these provisions.
50 Table of ContentsLONGS DRUG STORES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) This excerpt taken from the LDG 10-Q filed Nov 29, 2007. 8. Debt Debt consisted of the following:
On October 30, 2007, the Company exercised an option to increase its secured revolving line of credit facility’s borrowing and letter of credit capacity from $325 million to $400 million, with no change to its existing covenant requirements. The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of October 25, 2007, the Company was in compliance with the restrictions and limitations included in these provisions. This excerpt taken from the LDG 10-Q filed Aug 22, 2007. 8. Debt Debt at July 26, 2007 and January 25, 2007 consisted of the following:
The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of July 26, 2007, the Company was in compliance with the restrictions and limitations included in these provisions. This excerpt taken from the LDG 10-Q filed May 31, 2007. 8. Debt Debt at April 26, 2007 and January 25, 2007 consisted of the following:
The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of April 26, 2007, the Company was in compliance with the restrictions and limitations included in these provisions. This excerpt taken from the LDG 10-K filed Mar 16, 2007. 6. Debt
Debt at January 25, 2007 and January 26, 2006 consisted of the following:
On January 30, 2007, the Company amended its secured $325 million revolving line of credit agreement with a syndication of banks. The amended agreement expires in January 2012 and accrues interest at LIBOR-based rates. Borrowings on this line of credit are secured by inventory, accounts receivable and certain intangible assets. The secured revolving line of credit agreement contains customary restrictions but no financial covenants and no limitations on capital expenditures or share repurchases if availability of credit remains above a minimum level. The amended agreement also includes an option to further increase the credit facility’s borrowing and letter-of-credit capacity to $400 million, subject to certain conditions. Borrowings on the line of credit do not require repayment until the expiration date but may be prepaid without penalty. Letters of credit totaling $35.8 million were outstanding under the agreement as of January 25, 2007. The Company pays a monthly commitment fee of 0.25% per annum on the unused portion of the line of credit ($224.2 million as of January 25, 2007).
The private placement notes are secured on the same basis as the secured revolving line of credit. The private placement notes may be redeemed at the Company’s option prior to their scheduled maturities, subject to an early payment premium.
The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of January 25, 2007, the Company was in compliance with the restrictions and limitations included in these provisions.
As of January 25, 2007, future minimum principal payments on long-term debt were as follows (in thousands):
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Table of ContentsLONGS DRUG STORES CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
This excerpt taken from the LDG 10-Q filed Nov 30, 2006. 9. Debt Debt at October 26, 2006 and January 26, 2006 consisted of the following:
In November 2006, the Company exercised an option to increase its secured $280 million revolving line of credit facility’s borrowing and letter of credit capacity from $280 million to $325 million. The credit agreement includes an option to further increase the credit facility’s borrowing and letter-of-credit capacity from $325 million to $345 million, subject to certain conditions. The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of October 26, 2006, the Company was in compliance with the restrictions and limitations included in these provisions. This excerpt taken from the LDG 10-Q filed Aug 31, 2006. 9. Debt Debt at July 27, 2006 and January 26, 2006 consisted of the following:
The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of July 27, 2006, the Company was in compliance with the restrictions and limitations included in these provisions. This excerpt taken from the LDG 10-Q filed Jun 1, 2006. 7. Debt Debt at April 27, 2006 and January 26, 2006 consisted of the following:
The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of April 27, 2006, the Company was in compliance with the restrictions and limitations included in these provisions. This excerpt taken from the LDG 10-K filed Mar 17, 2006. 3. Debt
Debt at January 26, 2006 and January 27, 2005 consisted of the following:
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Table of ContentsLONGS DRUG STORES CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The Company has a secured $280 million revolving line of credit with a syndication of banks, which expires in August 2009 and accrues interest at LIBOR-based rates. Borrowings on this line of credit are secured by inventory, accounts receivable and certain intangible assets. The secured revolving line of credit agreement contains customary restrictions but no financial covenants and no limitations on capital expenditures or share repurchases if availability of credit remains above a minimum level. The agreement also includes an option to increase the credit facility’s borrowing and letter-of-credit capacity from $280 million to $345 million, subject to certain conditions. Borrowings on the line of credit do not require repayment until the expiration date but may be prepaid without penalty. Letters of credit totaling $36 million were outstanding under the agreement as of January 26, 2006. The Company pays a monthly commitment fee of 0.25% per annum on the unused portion of the line of credit ($244 million as of January 26, 2006).
The private placement notes are secured on the same basis as the secured revolving line of credit. The private placement notes may be redeemed at the Company’s option prior to their scheduled maturities, subject to an early payment premium.
The Company’s debt agreements contain customary restrictions, and the private placement notes also include various customary financial covenants. As of January 26, 2006, the Company was in compliance with the restrictions and limitations included in these provisions.
Future minimum principal payments on long-term debt are as follows (in thousands):
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