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