WNR » Topics » Write-off of Unamortized Loan Fees

These excerpts taken from the WNR 10-K filed Mar 13, 2009.
Write-off of Unamortized Loan Fees
 
On June 30, 2008, we entered into an amendment to our term loan credit agreement. As a result of such amendment, we recorded an expense of $10.9 million related to the write-off of deferred loan fees incurred in May 2007. See Note 14, “Long-Term Debt” to the Consolidated Financial Statements included in this annual report for detailed information on our long-term debt agreements.
 
At December 31, 2005, we had a balance of $149.5 million on a term loan facility. In January 2006, we paid off the term loan with proceeds from our initial public offering. In connection with such repayment, we recorded an expense in January 2006 of approximately $2.0 million related to the write-off of deferred financing costs. Our statements of operations for the twelve months ended December 31, 2006, included $0.7 million in interest expense related to this term loan facility.
 
Write-off
of Unamortized Loan Fees



 



On June 30, 2008, we entered into an amendment to our term
loan credit agreement. As a result of such amendment, we
recorded an expense of $10.9 million related to the
write-off of deferred loan fees incurred in May 2007. See
Note 14, “Long-Term Debt” to the Consolidated
Financial Statements included in this annual report for detailed
information on our long-term debt agreements.


 



At December 31, 2005, we had a balance of
$149.5 million on a term loan facility. In January 2006, we
paid off the term loan with proceeds from our initial public
offering. In connection with such repayment, we recorded an
expense in January 2006 of approximately $2.0 million
related to the write-off of deferred financing costs. Our
statements of operations for the twelve months ended
December 31, 2006, included $0.7 million in interest
expense related to this term loan facility.


 




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 13, 2009
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