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9. Debt (Tables)

6 Months Ended

Jun. 30, 2021

Our long-term debt consisted of the following at June 30, 2021 and December 31, 2020 (in thousands):


		Balance (USD)
Loan Agreement	Currency	June 30, 2021		December 31, 2020
Revolving Credit Facility	USD	$	—	$	—
Luz del Norte Credit Facilities	USD	184,546		186,230
Japan Credit Facility	JPY	34,184		13,813
Tochigi Credit Facility	JPY	—		39,400
Kyoto Credit Facility	JPY	44,462		47,706
Ikeda Credit Facility	JPY	24,945		—
Long-term debt principal		288,137		287,149
Less: unamortized discounts and issuance costs		(8,814)		(7,918)
Total long-term debt		279,323		279,231
Less: current portion		(3,239)		(41,540)
Noncurrent portion		$	276,084	$	237,691

Schedule of Borrowing Rate on Debt

Our long-term debt borrowing rates as of June 30, 2021 were as follows:


Loan Agreement						June 30, 2021
Luz del Norte Credit Facilities (1)						Fixed rate loans at bank rate plus 3.50%
						Variable rate loans at 91-Day U.S. Treasury Bill Yield or LIBOR plus 3.50%
Japan Credit Facility						1-month TIBOR plus 0.55%
Kyoto Credit Facility						1-month TIBOR plus 0.60%
Ikeda Credit Facility (2)						Fixed rate term loan facility at 1.20%
						Variable rate term loan facility at 6-month TIBOR plus 0.70% (3)
						Consumption tax facility at 3-month TIBOR plus 0.50%
						Debt service reserve facility at 6-month TIBOR plus 1.20%

——————————

(1)Outstanding balance comprised of $138.4 million of fixed rate loans and $46.1 million of variable rate loans as of June 30, 2021.

(2)Outstanding balance comprised of $12.3 million of fixed rate loans and $12.7 million of variable rate loans as of June 30, 2021.

(3)We have entered into an interest rate swap contract to hedge a portion of this variable rate. See Note 6. “Derivative Financial Instruments” to our condensed consolidated financial statements for additional information.

Schedule of Maturities of Long-term Debt

At June 30, 2021, the future principal payments on our long-term debt were due as follows (in thousands):


	Total Debt
Remainder of 2021	$	717
2022	38,219
2023	6,692
2024	55,583
2025	8,646
2026	9,125
Thereafter	169,155
Total long-term debt future principal payments	$	288,137

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details