Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.20.2
Long-Term Debt (Tables)
 9 Months Ended
Sep. 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 %    $ 34      $ 22  
January 27, 2020
      1,245        1,198        96.25 %      20        27  
December 27, 2019
      3,090        2,874        93.00 %      49        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 %      36        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

September 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 )    
 
(2,761
) 
  
 
 
     
 
 
  
6.75% Senior Secured Notes net carrying value
      216,468     
 
213,580
 
  
 
 
     
 
 
  
Asset-Based Revolving Credit Facility principal outstanding
      12,426     
 
16,600
 
  
 
 
     
 
 
  
Long-term debt less unamortized debt issuance costs
    $ 228,894      $
230,180
  
  
 
 
     
 
 
  
Less current portion
      (12,426 )    
 
(16,600
) 
  
 
 
     
 
 
  
Long-term debt less unamortized debt issuance costs, net of current portion
    $ 216,468     
$
213,580
 
  
 
 
     
 
 
  
Principle Repayment Requirements Under Long Term Agreements Outstanding Principal repayment requirements under all long-term debt agreements outstanding at September 30, 2020 for each of the next five years and thereafter are as follows:
    
Amount
  
For the Year Ended September 30,
   
(Dollars in thousands)
  
2021
    $ 16,600  
2022
      —    
2023
      —    
2024
      216,341  
2025
      —    
Thereafter
      —    
  
 
 
  
   $ 232,941