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Debt (Tables)
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Long Term Debt

Long-term debt consisted of the following, as of December 31 (in thousands):

 

 

 

2020

 

 

2019

 

Nexstar

 

 

 

 

 

 

 

 

     Term Loan A, due October 26, 2023

 

$

485,400

 

 

$

788,070

 

     Team Loan A, due September 19, 2024

 

 

625,850

 

 

 

675,000

 

     Term Loan B, due January 17, 2024

 

 

874,992

 

 

 

1,138,580

 

     Term Loan B, due September 18, 2026

 

 

2,644,315

 

 

 

3,065,000

 

     5.625% Notes, paid in 2020

 

 

-

 

 

 

900,000

 

     5.625% Notes, due July 15, 2027

 

 

1,785,000

 

 

 

1,785,000

 

     4.75% Notes, due November 1, 2028

 

 

1,000,000

 

 

 

-

 

Mission

 

 

 

 

 

 

 

 

     Revolving loans, due October 26, 2023

 

 

327,000

 

 

 

-

 

     Term Loan B, paid in 2020

 

 

-

 

 

 

226,242

 

Shield

 

 

 

 

 

 

 

 

     Term Loan A, paid in 2020

 

 

-

 

 

 

21,811

 

     Total outstanding principal

 

 

7,742,557

 

 

 

8,599,703

 

Less: unamortized financing costs and discount - Nexstar Term Loan A due 2023

 

 

(1,584

)

 

 

(3,447

)

Less: unamortized financing costs and discount - Nexstar Term Loan A due 2024

 

 

(7,102

)

 

 

(9,511

)

Less: unamortized financing costs and discount - Nexstar Term Loan B due 2024

 

 

(12,136

)

 

 

(20,489

)

Less: unamortized financing costs and discount - Nexstar Term Loan B due 2026

 

 

(50,644

)

 

 

(67,404

)

Less: unamortized financing costs and discount - Nexstar 5.625% Notes paid in 2020

 

 

-

 

 

 

(9,955

)

Add: unamortized premium, net of financing costs - Nexstar 5.625% Notes due 2027

 

 

5,997

 

 

 

7,121

 

Less: unamortized financing costs and discount - Nexstar 4.75% Notes due 2028

 

 

(9,085

)

 

 

-

 

Less: unamortized financing costs and discount - Mission Term Loan B paid in 2020

 

 

-

 

 

 

(3,177

)

Less: unamortized financing costs and discount - Shield Term Loan A paid in 2020

 

 

-

 

 

 

(253

)

     Total outstanding debt

 

 

7,668,003

 

 

 

8,492,588

 

Less:  current portion

 

 

(21,429

)

 

 

(109,310

)

     Long-term debt, net of current portion

 

$

7,646,574

 

 

$

8,383,278

 

 

Maturities of Debt

The scheduled maturities of the Company’s debt, excluding the unamortized financing costs, discounts and premium, as of December 31, 2020 are summarized as follows (in thousands):

 

2021

 

$

21,429

 

2022

 

 

44,170

 

2023

 

 

879,900

 

2024

 

 

1,367,742

 

2025

 

 

-

 

Thereafter

 

 

5,429,316

 

 

 

$

7,742,557