Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.7.0.1
Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consisted of the following (amounts in thousands):
 
March 31,
2017
 
December 31,
2016
9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.4%
$
578,552

 
$
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%
1,064,465

 
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 5.3%
67,567

 
42,570

 
1,722,584

 
1,698,778

Less current portion of long-term debt
(11,000
)
 
(11,000
)
Long-term debt
$
1,711,584

 
$
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 March 31, 2017, principal payments scheduled to be made on the Company’s debt obligations are as follows (amounts in thousands):
Remainder of 2017
$
8,250

2018
11,000

2019
11,000

2020
608,000

2021
80,700

2022
1,042,250

Thereafter

Total principal payments
1,761,200

Less:
 
Unamortized deferred debt costs and discounts
38,616

Total debt on condensed consolidated balance sheet
$
1,722,584