Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v2.4.1.9
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term debt consists of the following at December 31, 2014 and 2013 (amounts in thousands):
 
2014
 
2013
2021 Notes (a)
$
325,000

 
325,000

2019 Notes (b)
425,000

 
425,000

Senior Credit Facility (c)
279,000

 
261,000

Wells Fargo note payable (d)
9,767

 
—

Rural Utilities Service ("RUS") debt (e)
29

 
39,425

Debt
1,038,796

 
1,050,425

Less unamortized discount paid on the 2019 Notes
2,118

 
2,445

Less current portion of long-term debt
622

 
2,836

Long-term debt, net
$
1,036,056

 
1,045,144

Debt Instrument Redemption
The 2021 Notes are not redeemable prior to June 1, 2016.  At any time on or after June 1, 2016, the 2021 Notes are redeemable at our option, in whole or in part, on not less than thirty nor more than sixty days’ notice, at the following redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest (if any) to the date of redemption:
If redeemed during the twelve month period commencing June 1 of the year indicated:
Redemption Price
2016
103.375
%
2017
102.250
%
2018
101.125
%
2019 and thereafter
100.000
%
The 2019 Notes are redeemable at our option, in whole or in part, on not less than thirty days nor more than sixty days notice, at the following redemption prices (expressed as percentages of principle amount), plus accrued and unpaid interest (if any) to the date of redemption:
If redeemed during the twelve month period commencing November 15 of the year indicated:
Redemption Price
2014
104.313
%
2015
103.000
%
2016
101.438
%
2017 and thereafter
100.000
%
Interest Margin
The interest rate on our Senior Credit Facility is London Interbank Offered Rate (“LIBOR”) plus the following Applicable Margin set forth opposite each applicable Total Leverage Ratio below.
Total Leverage Ratio (as defined)
Applicable Margin
>=5.5
3.00%
>=5.0 but <5.5
2.75%
>=4.5 but <5.0
2.50%
>=4.0 but <4.5
2.25%
<4.0
2.00%
Schedule of Maturities of Long-term Debt
aturities of long-term debt as of December 31, 2014 are as follows (amounts in thousands):
Years ending December 31,
 
2015
$
622

2016
604

2017
619

2018
279,635

2019
425,651

2020 and thereafter
331,665

Total debt
1,038,796

Less unamortized discount paid on 2019 Notes
2,118

Less current portion of long-term debt
622

Long-term debt, net
$
1,036,056