Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.8.0.1
Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2017
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consisted of the following (amounts in thousands):
 
September 30,
2017
 
December 31,
2016
9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.5%
$
579,525

 
$
578,078

Promissory Note to Ascent Capital due October 1, 2020 with an effective rate of 12.5% (a)
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 7.2%
1,061,199

 
1,066,130

$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 5.1%
78,469

 
42,570

 
1,731,193

 
1,698,778

Less current portion of long-term debt
(11,000
)
 
(11,000
)
Long-term debt
$
1,720,193

 
$
1,687,778

 

(a)
The effective rate was 9.868% until February 29, 2016.
Schedule of Maturities of Long-Term Debt Including Short Term Borrowings
As of September 30, 2017, principal payments scheduled to be made on the Company’s debt obligations are as follows (amounts in thousands):
Remainder of 2017
$
2,750

2018
11,000

2019
11,000

2020
608,000

2021
91,400

2022
1,042,250

Thereafter

Total principal payments
1,766,400

Less:
 
Unamortized deferred debt costs and discounts
35,207

Total debt on condensed consolidated balance sheet
$
1,731,193