Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v2.4.0.8
Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2013
Long-Term Debt  
Schedule of long-term debt

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

 

 

 

September 30,
2013

 

December 31,
2012

 

 

 

 

 

 

 

9.125% Senior Notes due April 1, 2020

 

$

585,000

 

$

410,000

 

9.868% Promissory Note in favor of Ascent Capital due October 1, 2020

 

100,000

 

 

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

 

904,326

 

685,583

 

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

 

25,600

 

12,800

 

 

 

1,614,926

 

1,108,383

 

Less current portion of long-term debt

 

(9,166

)

(6,950

)

Long-term debt

 

$

1,605,760

 

$

1,101,433

 

 

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

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

Schedule of refinancing costs, reflected in the consolidated statement of operations and comprehensive income (loss) as a component of Other income (expense)

The components of the Refinancing expense, reflected in the condensed consolidated statement of operations and comprehensive income (loss) as a component of Other income (expense) for the nine months ended September 30, 2012, are as follows (amounts in thousands):

 

 

 

For the nine
months ended

 

 

 

September
30, 2012

 

 

 

 

 

Accelerated amortization of deferred financing costs

 

$

389

 

Accelerated amortization of securitization debt discount

 

6,679

 

Other refinancing costs

 

7,628

 

Gain on early termination of derivative instruments

 

(8,451

)

Total refinancing expense

 

$

6,245

 

 

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 2013

 

$

2,292

 

2014

 

9,166

 

2015

 

9,166

 

2016

 

9,166

 

2017

 

34,767

 

2018

 

870,800

 

Thereafter

 

685,000

 

Total principal payments

 

1,620,357

 

Less:

 

 

 

Unamortized discount on the Credit Facility term loans

 

5,431

 

Total debt on condensed consolidated balance sheet

 

$

1,614,926