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Interest expense
 6 Months Ended 12 Months Ended
Jun. 30, 2018
Dec. 31, 2017
Interest and Debt Expense [Abstract]    
Interest Expense

(8)   Interest expense

The following tables present the components of interest expense:

                                                                                                                                                                                    

 
    
    
  
​ ​ ​ ​ ​ ​ ​ ​
 
   For the six
months ended
June 30,
  
​ ​ ​ ​ ​ ​ ​ ​
 
   2018
   2017
  
​ ​ ​ ​ ​ ​ ​ ​

(Dollars in thousands)

  

Interest incurred on debt

   $ 35,473   $ 12,086  

Related party Promissory Note interest expense

     5,090     —  

Senior Note redemption premium

     4,782     —  

Accretion of fair value adjustment on Senior Notes

     19,414     3,208  

Accretion of original issue discount on 2018 Term Loans

     357     —  

Amortization of debt issuance costs

     1,416     154  
​ ​ ​ ​ ​ ​ ​ ​

Total interest expense

   $ 66,532   $ 15,448  
​ ​ ​ ​ ​ ​ ​ ​

Interest rates

The 2018 Credit Agreement had an effective interest rate of 5.59% as of June 30, 2018. The Old Revolving Facility and Old Term Loan Facility had an effective interest rate of 4.57% as of December 31, 2017 and the Senior Notes had a fixed interest rate of 6.375%, both of which were repaid on February 12, 2018 as part of our refinancing (see Note 6 "Debt and liquidity").

As a result of our February 12, 2018 refinancing, we paid a prepayment premium for the redemption of our Senior Notes totaling $4.8 million. The accretion of the August 15, 2015 fair value adjustment to our Senior Notes totaling $19.4 million included accelerated accretion of $18.7 million for the six months ended June 30, 2018 resulting from the prepayment.

 

(8)   Interest expense

The following table presents an analysis of interest expense:

                                                                                                                                                                                    

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​

 

 

Successor

 

Predecessor

 

 

 

For the year
ended
December 31,
2017

 

For the year
ended
December 31,
2016

 

For the period
August 15
through
December 31,
2015

 

For the period
January 1
through
August 14,
2015

 

​  

​ 

​  

​ 

​  

​ 

​  

​ 

​  

​

 

 

(Dollars in thousands)

 

Interest incurred on debt

 

$
24,060

 

$
20,408

 

$
7,694

 

$
12,066

 

Amortization of discount on Senior Subordinated Notes

 

—

 

—

 

—

 
12,027

 

Accretion of fair value adjustment on Senior Notes

 
6,454

 
6,305

 
2,305

 

—

 

Amortization of debt issuance costs

 
309

 
201

 

—

 
2,118

 

​

​

​  

​  

​  

​  

​  

​  

​  

​

Total interest expense

 

$
30,823

 

$
26,914

 

$
9,999

 

$
26,211

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​

Interest rates

The revolving facility had an effective interest rate of 4.57% and 5.52% as of December 31, 2017 and 2016, respectively. The Senior Notes carried an interest rate of 6.375%. The Senior Subordinated Notes had an implied rate of 7.00%.

On August 11, 2015, we prepaid our Senior Subordinated Notes (see Note 7 "Debt and liquidity"). This prepayment resulted in accelerated amortization of $4.5 million as the Senior Subordinated Notes were prepaid at the face value. The accelerated expense was recorded in the predecessor period.