| Long-Term Debt |
The components of our long-term debt are presented in the following table (in thousands):
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September 30, 2017
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December 31, 2016
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Adjustments to
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Adjustments to
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Carrying
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Carrying
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Carrying
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Carrying
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Principal
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Value (1)
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Value
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Principal
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Value (1)
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Value
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11.00% 1.5 Lien Term Loan,
due November 2019:
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Principal
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$
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75,000
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$
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—
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$
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75,000
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$
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75,000
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$
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—
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$
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75,000
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Future interest payments
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—
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17,652
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17,652
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—
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23,823
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23,823
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Subtotal
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75,000
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17,652
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92,652
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75,000
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23,823
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98,823
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9.00 % Second Lien Term Loan,
due May 2020:
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300,000
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—
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300,000
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300,000
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—
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300,000
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9.00%/10.75% Second Lien
PIK Toggle Notes, due May 2020:
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Principal
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163,007
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—
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163,007
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163,007
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—
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163,007
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Future payments-in-kind
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—
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14,506
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14,506
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—
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24,048
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24,048
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Future interest payments
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—
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34,873
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34,873
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—
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36,850
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36,850
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Subtotal
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163,007
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49,379
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212,386
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163,007
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60,898
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223,905
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8.50%/10.00% Third Lien
PIK Toggle Notes, due June 2021:
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Principal
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145,897
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—
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145,897
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145,897
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—
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145,897
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Future payments-in-kind
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—
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18,618
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18,618
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—
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26,844
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26,844
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Future interest payments
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—
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38,682
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38,682
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—
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40,705
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40,705
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Subtotal
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145,897
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57,300
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203,197
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145,897
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67,549
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213,446
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8.50% Unsecured Senior Notes,
due June 2019
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189,829
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—
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189,829
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189,829
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—
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189,829
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Debt premium, discount,
issuance costs, net of amortization
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—
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(4,300
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)
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(4,300
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)
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—
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(5,276
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)
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(5,276
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)
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Total long-term debt
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873,733
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120,031
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993,764
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873,733
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146,994
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1,020,727
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Current maturities of long-term debt (2)
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—
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11,147
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11,147
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—
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8,272
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8,272
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Long term debt, less current
maturities
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$
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873,733
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$
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108,884
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$
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982,617
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$
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873,733
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$
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138,722
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$
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1,012,455
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(1)
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Future interest payments and future payments-in-kind (“PIK”) are recorded on an undiscounted basis.
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(2)
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Future interest payments on the 1.5 Lien Term Loan and Second Lien PIK Toggle Notes due within twelve months.
|
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