Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.22.4
LONG-TERM DEBT (Tables)
12 Months Ended
Dec. 31, 2022
LONG-TERM DEBT.  
Schedule of Long-Term Debt, Related Discounts and Issuance Costs

​

​

​

​

​

​

​

​

(In thousands)

​

December 31, 

​

​

2022

​

2021

Revolving Credit Facility due 2026

​

$

—

​

$

—

8.25% Senior Secured Notes due 2028(1)

​

​

410,000

​

​

310,000

Less: Unamortized debt issuance costs and premiums, net

​

 

(8,148)

​

 

(8,381)

​

​

$

401,852

​

$

301,619

__________

(1) The estimated fair value of these notes was approximately $360.6 million for December 31, 2022 and $327.5 million for December 31, 2021. The fair value was estimated using quoted market prices (Level 1 inputs) for these notes.

​

​

Debt Instrument Redemption

At any time on or after February 15, 2024, the Company may redeem some or all of the Notes for cash at the following redemption prices.

​

​

​

​

​

Redemption Periods

    

Percentage Premium

February 15, 2024 to February 14, 2025

 

104.125

%

February 15, 2025 to February 14, 2026

 

102.063

%

February 15, 2026 and Thereafter

​

100.000

%

​

Schedule of future maturities

​

​

​

​

​

(In thousands)

​

​

​

​

​

Senior Secured

For Years ending December 31, 

    

Notes due 2028

2023

​

$

—

2024

​

 

—

2025

​

 

—

2026

​

 

—

2027

​

 

—

Thereafter

​

​

410,000

​

​

$

410,000

​

Schedule of interest expense

​

​

​

​

​

​

​

​

(In thousands)

​

Year Ended

​

​

December 31, 

​

    

2022

    

2021

Interest expense (excluding bond fee amortization and premium)

​

$

33,496

​

$

24,179

Amortization of debt issuance costs, discounts and premiums

​

 

1,649

​

 

1,349

Capitalized interest

​

 

(10,802)

​

 

(1,871)

Interest income and other

​

​

(1,355)

​

​

—

​

​

$

22,988

​

$

23,657