BONDS PAYABLE

6 Months Ended

Jun. 30, 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 June 30, 2020 and December 31, 2019 (dollars in thousands):

	June 30,			December 31,
	2020			2019
Bonds (Series A)	$	80,785		$	92,653
Bonds (Series B)		39,729			39,844
Bonds (Series B expansion)		20,860			20,920
Bonds (Series C)		79,342			79,572
Total outstanding bonds	$	220,716		$	232,989
Less: deferred bond issuance costs		(8,174	)		(9,724	)
Total outstanding bonds, net		212,542			223,265
Accrued Interest		5,674			6,457
Total oustanding bonds, net and accrued interest	$	218,216		$	229,722

The aggregate maturity of the bonds are as follows:

	June 30,		December 31,
Year	2020		2019
2020	$	11,541	$	23,148
2021		35,199		35,301
2022		35,199		35,301
2023		114,541		114,873
2024		12,118		12,153
Thereafter		12,118		12,213
	$	220,716	$	232,989

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

On July 22, 2020, the Company paid $11.7 million in Series A bond principal and $6.9 million in interest payments in Series A, B and C bonds, respectively.