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