Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.8.0.1
Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consisted of the following (amounts in thousands):
 
March 31,
2018
 
December 31,
2017
9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.5%
$
580,536

 
$
580,026

Ascent Intercompany Loan 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 7.7%
1,058,020

 
1,059,598

$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 6.0%
71,780

 
66,673

 
1,722,336

 
1,718,297

Less current portion of long-term debt
(11,000
)
 
(11,000
)
Long-term debt
$
1,711,336

 
$
1,707,297

 

(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, 2018, principal payments scheduled to be made on the Company’s debt obligations, assuming no Springing Maturity of the Credit Facility, are as follows (amounts in thousands):
Remainder of 2018
$
8,250

2019
11,000

2020
608,000

2021
84,500

2022
1,042,250

2023

Thereafter

Total principal payments
1,754,000

Less:
 
Unamortized deferred debt costs and discounts
31,664

Total debt on condensed consolidated balance sheet
$
1,722,336