Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.4.0.3
Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Schedule of long-term debt
Long-term debt consisted of the following (amounts in thousands):
 
 
March 31,
2016
 
December 31,
2015
9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.4%
$
576,691

 
$
576,241

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

 
100,000

Term loans, mature April 9, 2022, LIBOR plus 3.5%, subject to a LIBOR floor of 1.00%, with an effective rate of 5.1%
541,157

 
542,420

Term loans, mature March 23, 2018, LIBOR plus 3.25%, subject to a LIBOR floor of 1.00% with an effective rate of 5.0%
395,858

 
394,938

$315 million revolving credit facility, matures December 22, 2017, LIBOR plus 3.75%, subject to a LIBOR floor of 1.00% with an effective rate of 5.9%
153,258

 
131,048

 
1,678,964

 
1,744,647

Less current portion of long-term debt
(5,500
)
 
(5,500
)
Long-term debt
$
1,673,464

 
$
1,739,147

 

(a)
The effective rate was 9.868% until February 29, 2016.
Schedule of maturities of long-term debt including short term borrowings
As of March 31, 2016, principal payments scheduled to be made on the Company’s debt obligations are as follows (amounts in thousands):
Remainder of 2016
$
4,125

2017
160,700

2018
409,284

2019
5,500

2020
602,500

2021
5,500

Thereafter
512,875

Total principal payments
1,700,484

Less:
 

Unamortized deferred debt costs, discount and premium, net
21,520

Total debt on condensed consolidated balance sheet
$
1,678,964