Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS - (Tables)

v3.21.1
DEBT OBLIGATIONS - (Tables)
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt Obligations
Outstanding debt obligations as of March 31, 2021 and December 31, 2020 consisted of the following:
(in thousands) March 31, 2021 December 31, 2020
Senior Credit Agreement:
Term facility - Matures January 3, 2023 and bears interest at LIBOR (with a LIBOR "floor" of 1.00% beginning March 18, 2020) plus 6.50% and 6.50% at March 31, 2021 and December 31, 2020, respectively (actual rate of 7.50% and 7.50% at March 31, 2021 and December 31, 2020, respectively)
$ 274,557  $ 279,417 
Revolving credit facility - $25.0 million line, matures January 22, 2022, and bears interest at LIBOR plus 6.50% and 6.50% at March 31, 2021 and December 31, 2020, respectively (actual rate of 6.65% and 6.65% at March 31, 2021 and December 31, 2020, respectively)
—  — 
Term Loan - Subordinated, matures July 3, 2023 and bears interest at 5.00% plus an applicable margin (actual rate of 12.50% and 12.50% at March 31, 2021 and December 31, 2020, respectively)
104,547  102,623 
Total debt obligations 379,104  382,040 
Less: current portion of long-term debt (24,302) (19,442)
Less: unamortized debt discounts and deferred financing costs (4,135) (4,725)
Long-term debt, net $ 350,667  $ 357,873 
Schedule of Maturities of Long-Term Debt
Based on terms and conditions existing at March 31, 2021, future minimum principal payments for long-term debt are as follows:
(in thousands) Principal Due
Senior Credit Agreement Term Loan Agreement Total
Twelve-month period ending March 31, Term Revolver Term
2022 (current) $ 24,302  $ —  $ —  $ 24,302 
2023 250,255  —  —  250,255 
2024 —  —  104,547  104,547 
Total $ 274,557  $ —  $ 104,547  $ 379,104