Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.19.3
Debt (Tables)
9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Debt consisted of the following (amounts in thousands):
 
Successor Company
 
 
Predecessor Company
 
September 30,
2019
 
 
December 31,
2018
Successor Takeback Loan Facility, matures March 29, 2024, LIBOR plus 6.50%, subject to a LIBOR floor of 1.25%, with an effective rate of 9.2%
$
822,500

 
 
$

Successor Term Loan Facility, matures July 3, 2024, LIBOR plus 5.00%, subject to a LIBOR floor of 1.50%, with an effective rate of 7.6%
150,000

 
 

Successor Revolving Credit Facility, matures July 3, 2024, LIBOR plus 5.00%, subject to a LIBOR floor of 1.50%, or base rate (with a floor of 4.5%) plus 4.0%, with an effective rate of 12.7%
21,500

 
 

9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.1%

 
 
585,000

Ascent Intercompany Loan due October 1, 2020 with an effective rate of 12.5%

 
 
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 8.6%

 
 
1,075,250

$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 7.5%

 
 
144,200

 
$
994,000

 
 
$
1,816,450

Less: Current portion of long-term debt
(8,225
)
 
 
(1,816,450
)
Long-term debt
$
985,775

 
 
$



Schedule of Maturities of Long-Term Debt
As of September 30, 2019, principal payments scheduled to be made on the Company’s debt obligations are as follows (amounts in thousands):
Remainder of 2019
$
2,056

2020
8,225

2021
8,225

2022
8,225

2023
8,225

2024
959,044

Thereafter

Total debt principal payments
$
994,000