Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from the line of Bob Napoli with Piper Jaffray. Please proceed.
Bob Napoli – Piper Jaffray
Good morning.
Paul Sinsheimer
Good morning, Bob.
Bob Napoli – Piper Jaffray
Thank you. Good, great results in this environment.
Paul Sinsheimer
Thank you.
Bob Napoli – Piper Jaffray
Question, just first on the ending share count, it looks like you bought back a few more shares. What was the ending share count? How many shares did you buy back, and do you intend to continue to? Your leverage actually went down with limited asset growth opportunities you expect to continue buying.
Paul Sinsheimer
Steve, give me the number.
Steve Groth
Bob, for the quarter, we bought back 210,000 shares for $4.7 million.
Bob Napoli – Piper Jaffray
Okay, and what’s the ending share count?
Steve Groth
Dave, what is the exact number?
David Hamm
Shares outstanding or diluted?
Bob Napoli – Piper Jaffray
You can give that to me. Let me maybe go on. On your?
Steve Groth
We have it, Bob.
Bob Napoli – Piper Jaffray
Okay.
David Hamm
25,467,000 outstanding.
Bob Napoli – Piper Jaffray
Okay. With regards to your debt, I guess, you said 43% floating, but that includes the equity, I think. If you look just look at the debt, it’s 54% about of the debt, somewhere around there.
Paul Sinsheimer
That’s correct. We give both statistics in the Qs.
Bob Napoli – Piper Jaffray
I just wanted? What you don’t give is the benchmark over the? How much of a premium over the various benchmarks? I was hoping you might be able to help me with that. Your bank borrowings are LIBOR-based.
Steve Goth
Bob, the conduits, the unsecured CP and the bank lines are all LIBOR floating based and then we have term notes with?.
Bob Napoli – Piper Jaffray
Right, but what premium over LIBOR are you paying so I can understand what your current cost of funds is?
Paul Sinsheimer
Bob, let me take that. It’s competitive and it varies from source-to-source.
Bob Napoli – Piper Jaffray
Around 100 basis points, generally.
Paul Sinsheimer
I certainly hope not. I don’t want to get into specifics but south of 100.
Bob Napoli – Piper Jaffray
That’s very helpful. Then just on the origination side, what are you? I mean is it across the board, I mean refuse I would imagine is stable and are construction and transportation down equally?
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