Summary of Debt |
Debt consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
December 31, 2022 |
|
Exchange Credit Agreement * |
|
|
|
|
|
|
Tranche 1 Loans |
|
$ |
791,480 |
|
|
$ |
846,445 |
|
Unamortized premium on tranche 1 loans |
|
|
18,359 |
|
|
|
25,345 |
|
Unamortized debt issuance costs on tranche 1 loans |
|
|
(17,707 |
) |
|
|
(22,575 |
) |
Tranche 2 Loans |
|
|
115,232 |
|
|
|
236,794 |
|
Unamortized discount on tranche 2 loans |
|
|
(1,136 |
) |
|
|
(2,922 |
) |
Unamortized debt issuance costs on tranche 2 loans |
|
|
(2,659 |
) |
|
|
(6,310 |
) |
Revolver |
|
|
- |
|
|
|
30,000 |
|
Total Exchange Credit Agreement |
|
|
903,569 |
|
|
|
1,106,777 |
|
10.500% Public Second Lien Notes due 2028 |
|
|
|
|
|
|
Notes Due in 2028 |
|
|
286,521 |
|
|
|
286,521 |
|
Unamortized discount |
|
|
(13,386 |
) |
|
|
(15,457 |
) |
Unamortized debt issuance costs |
|
|
(7,237 |
) |
|
|
(7,811 |
) |
Total 10.500% Public Second Lien Notes due 2028 |
|
|
265,898 |
|
|
|
263,253 |
|
9.500% Private Second Lien Notes due 2028 |
|
|
|
|
|
|
Notes Due in 2028 |
|
|
239,142 |
|
|
|
239,142 |
|
Unamortized discount |
|
|
(19,843 |
) |
|
|
(22,524 |
) |
Unamortized debt issuance costs |
|
|
(6,236 |
) |
|
|
(6,551 |
) |
Total 9.500% Private Second Lien Notes due 2028 |
|
|
213,063 |
|
|
|
210,067 |
|
6.50% Exchangeable Senior Notes: |
|
|
|
|
|
|
Notes Due in 2026 |
|
|
230,000 |
|
|
|
230,000 |
|
Unamortized debt issuance costs |
|
|
(4,595 |
) |
|
|
(6,489 |
) |
Total 6.50% Exchangeable Senior Notes Due in 2026 |
|
|
225,405 |
|
|
|
223,511 |
|
6.00% Senior Notes: |
|
|
|
|
|
|
Notes Due in 2026 |
|
|
110,858 |
|
|
|
110,858 |
|
Unamortized debt issuance costs |
|
|
(557 |
) |
|
|
(776 |
) |
Total 6.00% Senior Notes Due in 2026 |
|
|
110,301 |
|
|
|
110,082 |
|
5.875% Senior Notes: |
|
|
|
|
|
|
Notes Due in 2024 |
|
|
23,253 |
|
|
|
23,253 |
|
Unamortized debt issuance costs |
|
|
(44 |
) |
|
|
(96 |
) |
Total 5.875% Senior Notes Due in 2024 |
|
|
23,209 |
|
|
|
23,157 |
|
Finance Lease Obligations |
|
|
1,280 |
|
|
|
1,977 |
|
Other debt |
|
|
39,208 |
|
|
|
40,323 |
|
Total debt |
|
|
1,781,933 |
|
|
|
1,979,147 |
|
Current portion of finance lease obligations, long-term debt and non-recourse debt |
|
|
(55,882 |
) |
|
|
(44,722 |
) |
Finance Lease Obligations, long-term portion |
|
|
(549 |
) |
|
|
(1,280 |
) |
Long-Term Debt |
|
$ |
1,725,502 |
|
|
$ |
1,933,145 |
|
|
Debt Repayment Schedules Under Capital Lease Obligations, Long-Term Debt and Non-Recourse Debt |
Debt repayment schedules under Finance Lease Obligations, Long-Term Debt, Term Loans and the Exchange Credit Agreement are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
Fiscal Year |
|
Finance Leases |
|
|
Long-Term Debt |
|
|
Revolver |
|
|
Term Loans |
|
|
Total Repayment |
|
|
|
(In thousands) |
|
2024 |
|
$ |
759 |
|
|
$ |
24,417 |
|
|
$ |
— |
|
|
$ |
30,734 |
|
|
$ |
55,910 |
|
2025 |
|
|
536 |
|
|
|
1,275 |
|
|
|
— |
|
|
|
42,859 |
|
|
|
44,670 |
|
2026 |
|
|
29 |
|
|
|
342,180 |
|
|
|
— |
|
|
|
42,859 |
|
|
|
385,068 |
|
2027 |
|
|
— |
|
|
|
1,393 |
|
|
|
— |
|
|
|
790,260 |
|
|
|
791,653 |
|
2028 |
|
|
— |
|
|
|
527,112 |
|
|
|
— |
|
|
|
— |
|
|
|
527,112 |
|
Thereafter |
|
|
— |
|
|
|
33,141 |
|
|
|
— |
|
|
|
— |
|
|
|
33,141 |
|
|
|
|
1,324 |
|
|
|
929,518 |
|
|
|
— |
|
|
|
906,712 |
|
|
|
1,837,554 |
|
Interest imputed on finance leases |
|
|
(44 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(44 |
) |
Original issue (discount) premium |
|
|
— |
|
|
|
(33,229 |
) |
|
|
— |
|
|
|
17,223 |
|
|
|
(16,006 |
) |
Current portion |
|
|
(731 |
) |
|
|
(24,417 |
) |
|
|
— |
|
|
|
(30,734 |
) |
|
|
(55,882 |
) |
Non-current portion |
|
$ |
549 |
|
|
$ |
871,872 |
|
|
$ |
— |
|
|
$ |
893,201 |
|
|
$ |
1,765,622 |
|
|