Long-Term Debt and Other Long-Term Liabilities - Additional Information (Details) - USD ($)
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1 Months Ended |
12 Months Ended |
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Sep. 13, 2017 |
Apr. 17, 2017 |
Mar. 29, 2017 |
Jul. 23, 2015 |
Sep. 30, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
May 01, 2017 |
Long-term debt |
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Amortization of deferred financing costs, discount and debt premium |
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$ 6,289,000
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$ 3,520,000
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$ (4,372,000)
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Loss on early retirement of debt, net |
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(38,430,000)
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(155,000)
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(1,937,000)
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Scheduled maturities of long-term debt in 2023 |
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375,000,000
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Scheduled maturities of long-term debt in 2024 |
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956,800,000
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Scheduled maturities of long-term debt in 2025 |
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875,000,000
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Property and equipment, net |
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1,502,817,000
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612,342,000
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Other long-term liabilities |
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$ 28,579,000
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$ 7,287,000
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Debt instrument interest rate terms |
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however, that in no event will LIBOR be less than zero or the base rate be less than 1.00% over the term of the New Term Loan Facility or the New Revolving Credit Facility.
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Isle Acquisition |
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Long-term debt |
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Loss on early retirement of debt, net |
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$ (27,300,000)
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Acquisition date |
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May 01, 2017
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Lease and Management Agreements | Nemacolin Woodland Resort |
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Long-term debt |
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Property and equipment, net |
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4,200,000
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Other long-term liabilities |
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4,500,000
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Lease and Management Agreements | Quad-Cities Waterfront Convention Center |
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Long-term debt |
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Property and equipment, net |
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11,900,000
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Other long-term liabilities |
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$ 12,500,000
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6% Senior Notes |
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Long-term debt |
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Interest rate (as a percent) |
6.00%
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6.00%
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6.00%
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6.00%
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Long-term debt, gross |
$ 500,000,000
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$ 375,000,000
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Percentage of issue price of principal amount |
105.50%
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Loss on early retirement of debt, net |
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$ (11,100,000)
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$ (38,400,000)
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Senior notes, maturity date |
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Apr. 01, 2025
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ESCROW CASH |
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$ 1,900,000
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Debt instrument interest rate terms |
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The 6% Senior Notes will mature on April 1, 2025, with interest payable semi-annually in arrears on April 1 and October 1, commencing October 1, 2017.
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6% Senior Notes | Prior to April 1, 2020 |
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Long-term debt |
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Redemption price on notes redeemed (as a percent) |
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106.00%
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Percentage of issue price of principal amount |
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101.00%
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Percentage of repurchase |
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100.00%
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6% Senior Notes | Minimum |
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Long-term debt |
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Notification period on or after April 1, 2020 |
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30 days
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6% Senior Notes | Maximum |
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Long-term debt |
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Notification period on or after April 1, 2020 |
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60 days
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6% Senior Notes | Maximum | Prior to April 1, 2020 |
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Long-term debt |
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Redemption price (as a percent) |
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35.00%
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Resorts Senior Secured Notes |
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Long-term debt |
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Amortization expense of deferred financing costs |
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$ 500,000
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7% Senior Notes |
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Long-term debt |
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Interest rate (as a percent) |
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7.00%
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Long-term debt, gross |
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$ 375,000,000
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Senior notes, maturity date |
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Aug. 01, 2023
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7% Senior Notes | Prior to August 1, 2018 |
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Long-term debt |
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Redemption price on notes redeemed (as a percent) |
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107.00%
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Percentage of issue price of principal amount |
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101.00%
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Percentage of repurchase |
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100.00%
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7% Senior Notes | Prior to April 1, 2020 |
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Long-term debt |
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Redemption price (as a percent) |
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101.75%
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7% Senior Notes | Maximum | Prior to August 1, 2018 |
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Long-term debt |
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Redemption price (as a percent) |
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35.00%
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Notes | Prior to August 1, 2018 |
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Long-term debt |
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Redemption price on notes redeemed (as a percent) |
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100.00%
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Notes | Prior to April 1, 2020 |
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Long-term debt |
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Redemption price on notes redeemed (as a percent) |
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100.00%
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New Revolving Credit Facility |
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Long-term debt |
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Repayment of credit facility |
$ 78,000,000
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Credit facility |
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$ 300,000,000
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Commitment fee on unused portion of the credit facility |
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0.50%
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Amount outstanding |
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$ 0
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Available borrowing capacity |
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$ 291,600,000
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Interest rate |
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4.00%
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Credit facility maturity date |
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Apr. 17, 2022
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Maximum required leverage ratio, year one |
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650.00%
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Maximum required leverage ratio, year two |
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600.00%
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Maximum required leverage ratio, after year two |
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550.00%
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Minimum required interest coverage ratio, year one |
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200.00%
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Minimum required interest coverage ratio, year two |
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250.00%
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Minimum required interest coverage ratio, after year two |
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275.00%
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New Revolving Credit Facility | Minimum | LIBOR |
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Long-term debt |
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Spread on variable rate (as a percent) |
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1.75%
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New Revolving Credit Facility | Minimum | Base rate |
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Long-term debt |
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Spread on variable rate (as a percent) |
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0.75%
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New Revolving Credit Facility | Maximum | LIBOR |
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Long-term debt |
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Spread on variable rate (as a percent) |
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2.50%
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New Revolving Credit Facility | Maximum | Base rate |
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Long-term debt |
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Spread on variable rate (as a percent) |
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1.50%
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New Term Loan |
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Long-term debt |
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Repayments of term loan plus accrued interest |
444,500,000
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ESCROW CASH |
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4,500,000
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Credit facility |
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$ 1,450,000,000
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Amount outstanding |
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$ 956,800,000
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Interest rate |
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3.60%
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Credit facility maturity date |
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Apr. 17, 2024
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Credit facility quarterly principal payments |
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$ 3,600,000
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Credit facility, payment terms |
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The Company was required to make quarterly principal payments in an amount equal to $3.6 million on the New Term Loan Facility on the last day of each fiscal quarter beginning on June 30, 2017 but satisfied this requirement as a result of the principal prepayment of $444.5 million on September 13, 2017 in conjunction with the issuance of the additional 6% Senior Notes.
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Credit facility principal prepayment |
444,500,000
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New Term Loan | LIBOR |
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Long-term debt |
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Spread on variable rate (as a percent) |
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2.25%
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New Term Loan | Base rate |
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Long-term debt |
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Spread on variable rate (as a percent) |
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1.25%
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Credit Facility |
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Long-term debt |
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Loss on early retirement of debt, net |
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$ (27,300,000)
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7% Senior Notes | Minimum |
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Long-term debt |
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Notification period on or after August 1, 2018 |
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30 days
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7% Senior Notes | Maximum |
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Long-term debt |
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Notification period on or after August 1, 2018 |
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60 days
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Prior Revolving Credit Facility |
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Long-term debt |
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Repayment of credit facility |
78,000,000
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Credit facility |
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$ 150,000,000
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Term of debt |
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5 years
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Commitment fee on unused portion of the credit facility |
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0.50%
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Prior Revolving Credit Facility | Minimum | LIBOR |
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Long-term debt |
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Spread on variable rate (as a percent) |
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2.50%
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Prior Revolving Credit Facility | Minimum | Base rate |
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Long-term debt |
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Spread on variable rate (as a percent) |
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1.50%
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Prior Revolving Credit Facility | Maximum | LIBOR |
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Long-term debt |
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Spread on variable rate (as a percent) |
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3.25%
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Prior Revolving Credit Facility | Maximum | Base rate |
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Long-term debt |
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Spread on variable rate (as a percent) |
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2.25%
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Term Loan |
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Long-term debt |
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Repayments of term loan plus accrued interest |
$ 444,500,000
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Credit facility |
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$ 425,000,000
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Term of debt |
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7 years
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Term Loan | LIBOR |
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Long-term debt |
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Spread on variable rate (as a percent) |
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3.25%
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Floor rate (as a percent) |
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1.00%
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Term Loan | Base rate |
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Long-term debt |
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Spread on variable rate (as a percent) |
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2.25%
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Letter of Credit |
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Long-term debt |
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Amount outstanding |
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$ 8,400,000
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JP Morgan Chase Bank, N.A | 6% Senior Unsecured Notes |
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Long-term debt |
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Borrowing capacity |
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$ 375,000,000
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Interest rate (as a percent) |
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6.00%
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JP Morgan Chase Bank, N.A | Senior Secured Credit Facility |
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Long-term debt |
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Borrowing capacity |
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$ 1,750,000,000
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JP Morgan Chase Bank, N.A | New Revolving Credit Facility |
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Long-term debt |
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Borrowing capacity |
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300,000,000
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JP Morgan Chase Bank, N.A | New Term Loan |
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Long-term debt |
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Borrowing capacity |
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$ 1,450,000,000
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