Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.8.0.1
Debt (Tables)
9 Months Ended
Sep. 30, 2017
Debt Instrument [Line Items]  
Schedule of Debt
The following table sets forth information related to the 2033 Senior Notes which is included our Condensed Consolidated Balance Sheets as of September 30, 2017:
(In thousands)
Embedded conversion option
 
2033 Senior Notes
 
Discount
 
Debt Issuance Cost
 
Total
Balance at December 31, 2016
$
16,736

 
$
31,850

 
$
(4,612
)
 
$
(273
)
 
$
43,701

Amortization of debt discount and debt issuance costs

 

 
1,514

 
111

 
1,625

Change in fair value of embedded derivative
(3,185
)
 

 

 

 
(3,185
)
Reclassification of embedded derivatives to equity
(13,551
)
 

 

 

 
(13,551
)
Balance at September 30, 2017
$

 
$
31,850

 
$
(3,098
)
 
$
(162
)
 
$
28,590

At September 30, 2017 and December 31, 2016, we had notes payable and other debt (excluding the 2033 Senior Notes, the Credit Agreement and amounts outstanding under lines of credit) as follows:
(In thousands)
September 30,
2017
 
December 31,
2016
Current portion of notes payable
$
3,726

 
$
3,681

Other long-term liabilities
2,085

 
2,090

Total
$
5,811

 
$
5,771

Summary of Lines of Credit
The following table summarizes the amounts outstanding under the Bio Reference, Chilean and Spanish lines of credit:
(Dollars in thousands)
 
 
 
 
 
 Balance Outstanding
Lender
 
Interest rate on
borrowings at September 30, 2017
 
Credit line
capacity
 
September 30,
2017
 
December 31,
2016
JPMorgan Chase
 
3.36%
 
$
175,000

 
$
93,311

 
$
38,809

Itau Bank
 
5.50%
 
1,810

 
374

 
419

Bank of Chile
 
6.60%
 
3,800

 
2,687

 
1,619

BICE Bank
 
5.50%
 
2,500

 
1,720

 
1,538

BBVA Bank
 
5.50%
 
3,250

 
2,164

 
1,063

Estado Bank
 
5.50%
 
3,500

 
2,559

 
1,870

Santander Bank
 
5.50%
 
4,500

 
2,133

 
1,196

Scotiabank
 
5.00%
 
1,800

 
986

 
789

Corpbanca
 
5.00%
 

 

 
18

Banco Bilbao Vizcaya
 
2.90%
 
295

 

 

Santander Bank
 
2.67%
 
354

 

 

Total
 
 
 
$
196,809

 
$
105,934

 
$
47,321

Notes  
Debt Instrument [Line Items]  
Inputs to Lattice Model Used to Value the Embedded Derivative
The following table sets forth the inputs to the lattice model used to value the embedded derivative as of February 1, 2017:
 
February 1, 2017
Stock price
$8.63
Conversion Rate
141.4827
Conversion Price
$7.07
Maturity date
February 1, 2033
Risk-free interest rate
1.22%
Estimated stock volatility
49%
Estimated credit spread
761 basis points