Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v3.8.0.1
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt consisted of the following (amounts in thousands):

 
December 31, 2017
 
December 31, 2016
9.125% Senior Notes due April 1, 2020 with an effective rate of 9.5%
$
580,026

 
$
578,078

Promissory Note to Ascent Capital due October 1, 2020 with an effective rate of 12.5% (a)
12,000

 
12,000

Term loan, matures September 30, 2022, LIBOR plus 5.50%, subject to a LIBOR floor of 1.00%, with an effective rate of 7.2%
1,059,598

 
1,066,130

$295 million revolving credit facility, matures September 30, 2021, LIBOR plus 4.00%, subject to a LIBOR floor of 1.00%, with an effective rate of 6.4%
66,673

 
42,570

 
1,718,297

 
1,698,778

Less current portion of long-term debt
(11,000
)
 
(11,000
)
Long-term debt
$
1,707,297

 
$
1,687,778

 

(a)     The effective rate was 9.868% until February 29, 2016.
Schedule of Components of Refinancing Expense
The components of the refinancing expense is reflected below (amounts in thousands):
 
 
Twelve Months Ended December 31, 2016
Accelerated amortization of deferred financing costs
 
$
4,160

Accelerated amortization of debt discount
 
3,416

Other refinancing costs
 
1,924

Total refinancing expense
 
$
9,500

Schedule of Maturities of Long-term Debt Including Short-Term Borrowings
As of December 31, 2017, principal payments scheduled to be made on the Company's debt obligations, assuming no Springing Maturity of the Credit Facility, are as follows (amounts in thousands):
2018
$
11,000

2019
11,000

2020
608,000

2021
79,500

2022
1,042,250

Thereafter

Total principal payments
1,751,750

Less:
 

Unamortized discounts, premium and deferred debt costs, net
33,453

Total debt on consolidated balance sheet
$
1,718,297