Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v3.22.0.1
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Long-Term Debt
Long-term debt consists of the following:
 
 
  
December 31, 2020
 
 
December 31, 2021
 
 
  
(Dollars in thousands)
 
7.125% Senior Secured Notes
    $ —       
$
114,731
 
Less unamortized discount and debt issuance costs based on imputed interest rate of 7.64%
      —       
 
(3,844
) 
    
 
 
     
 
 
  
7.125% Senior Secured Notes net carrying value
      —       
 
110,887
 
    
 
 
     
 
 
  
6.75% Senior Secured Notes
      216,341     
 
60,174
 
Less unamortized debt issuance costs based on imputed interest rate of 7.10%
      (2,577 )    
 
(480
) 
    
 
 
     
 
 
  
6.75% Senior Secured Notes net carrying value
      213,764     
 
59,694
 
    
 
 
     
 
 
  
Asset-Based Revolving Credit Facility principal outstanding (1)
      5,000        —    
    
 
 
     
 
 
  
Long-term debt less unamortized discount and debt issuance costs
    $ 218,764     
$
170,581
 
    
 
 
     
 
 
  
Less current portion
      (5,000 )    
 
—  
 
    
 
 
     
 
 
  
Long-term debt less unamortized discount and debt issuance costs, net of current portion
    $ 213,764     
$
170,581
 
    
 
 
     
 
 
  
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
(Loss)
 
 
  
(Dollars in thousands)
 
December 10, 2021   $ 35,000     $ 35,591       101.69 %    $ 321     $ (911 ) 
October 25, 2021     2,000       2,020       101.00 %      19       (39 ) 
October 12, 2021     250       251       100.38 %      2       (3 ) 
October 5, 2021     763       766       100.38 %      7       (10 ) 
October 4, 2021     628       629       100.13 %      6       (7 ) 
September 24, 2021     4,700       4,712       100.25 %      44       (56 ) 
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  
   
 
 
    
 
 
            
 
 
    
 
 
  
    $ 82,000     $ 79,555             $ 1,105     $ 1,340