Annual report pursuant to Section 13 and 15(d)

Debt Issuance Costs

v2.4.0.8
Debt Issuance Costs
 12 Months Ended
Dec. 31, 2013
DEBT ISSUANCE COSTS [Abstract]  
Debt Issuance Costs
DEBT ISSUANCE COSTS
 
We have incurred debt issuance costs in connection with our long-term debt. These costs are deferred and are being amortized over the term of the related debt.  Upon early retirement or amendment to a debt agreement, certain fees are written off to expense. For the years ended December 31, 2013, 2012, and 2011, we amortized $43.6 million, $15.7 million and $4.4 million, respectively, of debt issuance costs. In addition, for the years ended December 31, 2013, 2012, and 2011, we wrote off $118.3 million, $1.5 million and zero, respectively, of debt issuance costs related to early extinguishments of debt.

As of December 31, 2013, we had recorded $313.9 million of debt issuance costs directly associated with the arrangement of debt financing, net of accumulated amortization, as follows (in thousands): 
Long-Term Debt
 
Debt Issuance Costs
 
Amortization Period
 
Accumulated
Amortization
 
Net Costs
2013 Liquefaction Credit Facilities
 
$
257,924

 
7.0 years
 
$
(46,400
)
 
$
211,524

2016 Notes
 
30,057

 
10.1 years
 
(21,100
)
 
8,957

2020 Notes
 
9,290

 
8.1 years
 
(1,377
)
 
7,913

2021 Sabine Pass Liquefaction Senior Notes
 
45,325

 
8.0 years
 
(3,910
)
 
41,415

2022 Sabine Pass Liquefaction Senior Notes
 
22,226

 
8.3 years
 
(195
)
 
22,031

2023 Sabine Pass Liquefaction Senior Notes
 
22,230

 
10.0 years
 
(1,159
)
 
21,071

CTPL Credit Facility
 
1,448

 
2.0 years
 
(415
)
 
1,033

Total
 
$
388,500

 
 
 
$
(74,556
)
 
$
313,944