Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.5.0.2
Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consisted of the following (amounts in thousands):
 
September 30,
2016
 
December 31,
2015
9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.4%
$
577,615

 
$
576,241

Promissory Note to Ascent Capital due October 1, 2020 with an effective rate of 12.5% (a)
12,000

 
100,000

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%
1,067,899

 

$295 million credit facility, matures September 20, 2021, LIBOR plus 4.00%, subject to a LIBOR floor of 1.00% with an effective rate of 5.3%
46,073

 

Term loan, matures April 9, 2022, LIBOR plus 3.50%, subject to a LIBOR floor of 1.00%, with an effective rate of 5.1%

 
542,420

Term loan, matures March 23, 2018, LIBOR plus 3.25%, subject to a LIBOR floor of 1.00% with an effective rate of 5.0%

 
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%

 
131,048

 
1,703,587

 
1,744,647

Less current portion of long-term debt
(11,000
)
 
(5,500
)
Long-term debt
$
1,692,587

 
$
1,739,147

 

(a)
The effective rate was 9.868% until February 29, 2016.
Schedule of Components of Refinancing Expense
The components of the refinancing expense is reflected below (amounts in thousands):
 
For the Three and
Nine Months Ended
September 30, 2016
Accelerated amortization of deferred financing costs
$
4,160

Accelerated amortization of debt discount
3,416

Other refinancing costs
1,772

Total refinancing expense
$
9,348

Schedule of Maturities of Long-Term Debt Including Short Term Borrowings
As of September 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
11,000

2018
11,000

2019
11,000

2020
608,000

2021
59,400

Thereafter
1,042,250

Total principal payments
1,745,400

Less:
 
Unamortized deferred debt costs and discounts
41,813

Total debt on condensed consolidated balance sheet
$
1,703,587