Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.7.0.1
Long-Term Debt (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consisted of the following (amounts in thousands):
 
June 30,
2017
 
December 31,
2016
9.125% Senior Notes due April 1, 2020 with an effective interest rate of 9.5%
$
579,033

 
$
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 7.0%
1,062,822

 
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 6.4%
61,467

 
42,570

 
1,715,322

 
1,698,778

Less current portion of long-term debt
(11,000
)
 
(11,000
)
Long-term debt
$
1,704,322

 
$
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 June 30, 2017, principal payments scheduled to be made on the Company’s debt obligations are as follows (amounts in thousands):
Remainder of 2017
$
5,500

2018
11,000

2019
11,000

2020
608,000

2021
74,500

2022
1,042,250

Thereafter

Total principal payments
1,752,250

Less:
 
Unamortized deferred debt costs and discounts
36,928

Total debt on condensed consolidated balance sheet
$
1,715,322