General form of registration statement for all companies including face-amount certificate companies

Long-Term Debt (Tables)

v3.19.3.a.u2
Long-Term Debt (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Debt Disclosure [Abstract]    
Schedule of Long-term Debt
Debt consisted of the following (amounts in thousands):
 
Successor Company
 
 
Predecessor Company
 
September 30,
2019
 
 
December 31,
2018
Successor Takeback Loan Facility, matures March 29, 2024, LIBOR plus 6.50%, subject to a LIBOR floor of 1.25%, with an effective rate of 9.2%
$
822,500

 
 
$

Successor Term Loan Facility, matures July 3, 2024, LIBOR plus 5.00%, subject to a LIBOR floor of 1.50%, with an effective rate of 7.6%
150,000

 
 

Successor Revolving Credit Facility, matures July 3, 2024, LIBOR plus 5.00%, subject to a LIBOR floor of 1.50%, or base rate (with a floor of 4.5%) plus 4.0%, with an effective rate of 12.7%
21,500

 
 

9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.1%

 
 
585,000

Ascent Intercompany Loan due October 1, 2020 with an effective rate of 12.5%

 
 
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 8.6%

 
 
1,075,250

$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 7.5%

 
 
144,200

 
$
994,000

 
 
$
1,816,450

Less: Current portion of long-term debt
(8,225
)
 
 
(1,816,450
)
Long-term debt
$
985,775

 
 
$



Long-term debt consisted of the following (amounts in thousands):

 
December 31, 2018
 
December 31, 2017
9.125% Senior Notes due April 1, 2020 with an effective rate of 9.5%
$
585,000

 
$
580,026

Promissory Note to Ascent Capital due October 1, 2020 with an effective rate of 12.5%
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 8.3%
1,075,250

 
1,059,598

$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 4.8%
144,200

 
66,673

 
1,816,450

 
1,718,297

Less current portion of long-term debt
(1,816,450
)
 
(11,000
)
Long-term debt
$

 
$
1,707,297


Schedule of Maturities of Long-term Debt Including Short-Term Borrowings  
As of December 31, 2018, principal payments scheduled to be made on the Company's debt obligations, assuming certain accelerated maturities due to potential events of default and subsequent transactions, are as follows (amounts in thousands):
2019
$
1,816,450

2020

2021

2022

2023

Thereafter

Total principal payments
1,816,450

Less:
 

Unamortized discounts, premium and deferred debt costs, net

Total debt on consolidated balance sheet
$
1,816,450