Sprint - Nextel 2012 Annual Report Download - page 187

Table of Contents
Long
- term debt at December 31, 2012 and 2011 consisted of the following (in thousands):
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F - 65
10.
Long - term Debt, Net
December 31, 2012
Interest
Rates
Effective
Rate(1)
Maturities
Par
Amount
Net
Discount
Carrying
Value
Notes:
2015 Senior Secured Notes
12.00%
12.92%
2015
$
2,947,494
$
(27,900
)
$
2,919,594
2016 Senior Secured Notes
14.75%
15.36%
2016
300,000
—
300,000
Second - Priority Secured Notes
12.00%
12.42%
2017
500,000
—
500,000
Exchangeable Notes
8.25%
16.93%
2040
629,250
(165,050
)
464,200
Vendor Financing Notes(3)
LIBOR based(2)
6.37%
2014/2015
32,056
(51
)
32,005
Capital lease obligations and other
(3)
91,638
—
91,638
Total debt, net
$
4,500,438
$
(193,001
)
4,307,437
Less: Current portion of Vendor
Financing Notes and capital lease
obligations and other
(4)
(36,080
)
Total long - term debt, net
$
4,271,357
(1)
Represents weighted average effective interest rate based on year- end balances.
(2)
Coupon rate based on 3-month LIBOR plus a spread of 5.50% (secured) and 7.00% (unsecured). Included in the balance are unsecured notes with par amount of
$4.6 million at December 31, 2012.
(3)
As of December 31, 2012, par amount of approximately $118.8 million is secured by assets classified as Network and base station equipment. The remaining par
amount is unsecured.
(4)
Included in Other current liabilities on the consolidated balance sheet.
December 31, 2011
Interest
Rates
Effective
Rate(1)
Maturities
Par
Amount
Net
Discount
Carrying
Value
Notes:
2015 Senior Secured Notes
12.00%
12.92%
2015
$
2,947,494
$
(35,272
)
$
2,912,222
Second - Priority Secured Notes
12.00%
12.42%
2017
500,000
—
500,000
Exchangeable Notes
8.25%
16.66%
2040
729,250
(209,259
)
519,991
Vendor Financing Notes(3)
LIBOR based(2)
6.19%
2014/2015
48,379
(103
)
48,276
Capital lease obligations(3)
65,590
—
65,590
Total debt, net
$
4,290,713
$
(244,634
)
4,046,079
Less: Current portion of Vendor
Financing Notes and capital lease
obligations(4)
(26,474
)
Total long - term debt, net
$
4,019,605
(1)
Represents weighted average effective interest rate based on year- end balances.
(2)
Coupon rate based on 3-month LIBOR plus a spread of 5.50%.
(3)
As of December 31, 2011, par amount of approximately $114.0 million is secured by assets classified as Network and base station equipment.
(4)
Included in Other current liabilities on the consolidated balance sheet.