BONDS PAYABLE

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

BONDS PAYABLE

NOTE 8.               BONDS PAYABLE 

Following is the outstanding balance of SPC’s bonds and interest payable as of March 31, 2020 and December 31, 2019 (dollars in thousands): 

	March 31,			December 31,
	2020			2019
Bonds (Series A)	$	78,541		$	92,653
Bonds (Series B)		38,626			39,844
Bonds (Series B expansion)		20,281			20,920
Bonds (Series C)		77,139			79,572
Total outstanding bonds	$	214,587		$	232,989
Less: deferred bond issuance costs		(8,946	)		(9,724	)
Total outstanding bonds, net		205,641			223,265
Accrued Interest		2,191			6,457
Total oustanding bonds, net and accrued interest	$	207,832		$	229,722

The aggregate maturity of the bonds are as follows:

	March 31,		December 31,
Year	2020		2019
2020	$	11,220	$	23,148
2021		34,222		35,301
2022		34,222		35,301
2023		111,361		114,873
2024		11,781		12,153
Thereafter		11,781		12,213
	$	214,587	$	232,989

On January 31, 2020, the Company paid $11.6 million in Series A bond principal and $7.3 million in interests payments in Series A, B and C bonds, respectively.