Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v2.4.0.8
Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2014
Long-Term Debt  
Schedule of long-term debt

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

 

 

 

March 31,
2014

 

December 31,
2013

 

 

 

 

 

 

 

9.125% Senior Notes due April 1, 2020

 

$

585,000

 

$

585,000

 

9.868% Promissory Note to Ascent Capital due October 1, 2020

 

100,000

 

100,000

 

Term loans, mature March 23, 2018, LIBOR plus 3.25%, subject to a LIBOR floor of 1.00% (a)

 

900,264

 

902,293

 

$225 million revolving credit facility, matures December 22, 2017, LIBOR plus 3.75%, subject to a LIBOR floor of 1.00% (a)

 

37,500

 

19,500

 

 

 

1,622,764

 

1,606,793

 

Less current portion of long-term debt

 

(9,166

)

(9,166

)

Long-term debt

 

$

1,613,598

 

$

1,597,627

 

 

(a)         The interest rate on the term loan and the revolving credit facility was LIBOR plus 4.25%, subject to a LIBOR floor of 1.25%, until March 25, 2013.

Schedule of maturities of long-term debt including short term borrowings

Principal payments scheduled to be made on the Company’s debt obligations are as follows (amounts in thousands):

 

Remainder of 2014

 

$

6,875

 

2015

 

9,166

 

2016

 

9,166

 

2017

 

46,666

 

2018

 

870,800

 

2019

 

 

Thereafter

 

685,000

 

Total principal payments

 

1,627,673

 

Less:

 

 

 

Unamortized discount on the Credit Facility term loans

 

4,909

 

Total debt on condensed consolidated balance sheet

 

$

1,622,764