Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.21.1
Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2021
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 %      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, 2020		     
As of

March 31, 2021
  
    
(Dollars in thousands)
  
6.75% Senior Secured Notes
    $ 216,341     
$
216,341
 
Less unamortized debt issuance costs based on imputed interest rate of 7.08%
      (2,577 )    
 
(2,393
) 
    
 
 
     
 
 
  
6.75% Senior Secured Notes net carrying value
      213,764     
 
213,948
 
Asset-Based Revolving Credit Facility principal outstanding
      5,000        —    
SBA Paycheck Protection Plan loans
      —       
 
11,195
 
    
 
 
     
 
 
  
Long-term debt less unamortized debt issuance costs
    $ 218,764     
$
225,143
 
    
 
 
     
 
 
  
Less current portion
      (5,000 )       —    
    
 
 
     
 
 
  
Long-term debt less unamortized debt issuance costs, net of current portion
    $ 213,764     
$
225,143
 
    
 
 
     
 
 
  
Principle Repayment Requirements Under Long Term Agreements Outstanding
Principal repayment requirements under all long-term debt agreements outstanding at March 31, 2021 for each of the next five years and thereafter are as follows:
For the Year Ended March 31,
 
 
  
Amount
 
 
  
(Dollars in thousands)
 
2022
    $ —    
2023
      —    
2024
      216,341  
2025
      —    
2026
      11,195  
Thereafter
      —    
    
 
 
  
     $ 227,536