Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.20.2
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Debt Instruments Senior Secured Note
Based on the then existing market conditions, we completed repurchases of our 6.75% Senior Secured Notes at amounts less than face value as follows:
 
Date
   
Principal
Repurchased
     
Cash

Paid
     
% of Face
Value
    
Bond Issue
Costs
     
Net
Gain
  
    
(Dollars in thousands)
  
January 30, 2020
    $  2,250      $  2,194        97.50 %    $  35      $ 22  
January 27, 2020
      1,245        1,198        96.25 %      19        27  
December 27, 2019
      3,090        2,874        93.00 %      48        167  
November 27, 2019
      5,183        4,548        87.75 %      82        553  
November 15, 2019
      3,791        3,206        84.58 %      61        524  
March 28, 2019
      2,000        1,830        91.50 %      37        134  
March 28, 2019
      2,300        2,125        92.38 %      42        133  
February 20, 2019
      125        114        91.25 %      2        9  
February 19, 2019
      350        319        91.25 %      7        24  
February 12, 2019
      1,325        1,209        91.25 %      25        91  
January 10, 2019
      570        526        92.25 %      9        35  
December 21, 2018
      2,000        1,835        91.75 %      38        127  
December 21, 2018
      1,850        1,702        92.00 %      35        113  
December 21, 2018
      1,080        999        92.50 %      21        60  
November 17, 2018
      1,500        1,357        90.50 %      29        114  
May 4, 2018
      4,000        3,770        94.25 %      86        144  
April 10, 2018
      4,000        3,850        96.25 %      87        63  
April 9, 2018
      2,000        1,930        96.50 %      43        27  
  
 
 
     
 
 
       
 
 
     
 
 
  
   $  38,659      $  35,586        $  706      $  2,367  
  
 
 
     
 
 
       
 
 
     
 
 
  
Long-Term Debt
Long-term debt consisted of the following:
 
     As of
December 31, 2019		     
As of

June 30, 2020
  
    
(Dollars in thousands)
  
6.75% Senior Secured Notes
    $ 219,836     
$
216,341
 
Less unamortized debt issuance costs based on imputed interest rate of 7.08%
      (3,368 )    
 
(2,945
) 
  
 
 
     
 
 
  
6.75% Senior Secured Notes net carrying value
      216,468     
 
213,396
 
  
 
 
     
 
 
  
Asset-Based Revolving Credit Facility principal outstanding
      12,426     
 
19,000
 
  
 
 
     
 
 
  
Long-term debt less unamortized debt issuance costs
    $ 228,894     
$
232,396
 
  
 
 
     
 
 
  
Less current portion
      (12,426 )    
 
(19,000
) 
  
 
 
     
 
 
  
Long-term debt less unamortized debt issuance costs, net of current portion
    $ 216,468     
$
213,396
 
  
 
 
     
 
 
  
Principle Repayment Requirements Under Long Term Agreements Outstanding
Principal repayment requirements under all long-term debt agreements outstanding at June 30, 2020 for each of the next five years and thereafter are as follows:
 
 
  
Amount
 
For the Year Ended June 30,
  
(Dollars in thousands)
 
2021
  
$
19,000
 
2022
  
 
—  
 
2023
  
 
—  
 
2024
  
 
216,341
 
2025
  
 
—  
 
Thereafter
  
 
—  
 
 
  
 
 
 
 
  
$
235,341