| Schedule of long-term debt |
Long-term debt consisted of the following (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
June 30,
2016 |
|
December 31,
2015 |
9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.4% |
$ |
577,150 |
|
|
$ |
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 3.50%, subject to a LIBOR floor of 1.00%, with an effective rate of 5.1% |
539,896 |
|
|
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% |
396,792 |
|
|
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% |
152,822 |
|
|
131,048 |
|
|
1,678,660 |
|
|
1,744,647 |
|
Less current portion of long-term debt |
(5,500 |
) |
|
(5,500 |
) |
Long-term debt |
$ |
1,673,160 |
|
|
$ |
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 June 30, 2016, principal payments scheduled to be made on the Company’s debt obligations are as follows (amounts in thousands):
|
|
|
|
|
Remainder of 2016 |
$ |
2,750 |
|
2017 |
160,000 |
|
2018 |
409,284 |
|
2019 |
5,500 |
|
2020 |
602,500 |
|
2021 |
5,500 |
|
Thereafter |
512,875 |
|
Total principal payments |
1,698,409 |
|
Less: |
|
|
Unamortized deferred debt costs and discounts |
19,749 |
|
Total debt on condensed consolidated balance sheet |
$ |
1,678,660 |
|
|