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Debt | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Debt | DEBT As of June 30, 2020, and December 31, 201 9, our debt was as follows:
(in thousands of $) | June 30, 2020 | December 31, 2019
2017 Convertible Bonds | 375,727 |  | 368,133 |
Gimi facility | 225,000 |  | 130,000 |
Term facility | 150,000 |  | 150,000 |
$1.125 billion facility | 71,120 |  | 152,015 |
Golar Arctic facility | 40,119 |  | 43,767 |
Margin Loan facility | 30,000 |  | 100,000 |
Golar Viking facility | — |  | 41,667 |
Subtotal (excluding lessor VIE loans) | 891,966 |  | 985,582 |
AVIC VIE loan (1) | 104,806 |  | — |
ICBCL VIE loans (1) | 466,605 |  | 503,515 |
CCBFL VIE loan (1) | 100,424 |  | 100,424 |
CMBL VIE loan (1) | 96,641 |  | 104,884 |
COSCO Shipping VIE loan (1) | 87,668 |  | 91,275 |
CSSC VIE loans (1) | 827,818 |  | 783,071 |
Total debt | 2,575,928 |  | 2,568,751 |
Less: Deferred finance charges | (31,063) |  | (32,924) |
Total debt, net of deferred financing costs | 2,544,865 |  | 2,535,827 |
At June 30, 2020, our debt, net of deferred financing costs, is broken down as follows:
| Golar debt | VIE debt (1) | Total debt
(in thousands of $) |  |  |
Current portion of long-term debt and short-term debt | 197,350 |  | 1,003,234 |  | 1,200,584 |
Long-term debt | 666,058 |  | 678,223 |  | 1,344,281 |
Total | 863,408 |  | 1,681,457 |  | 2,544,865 |
(1) These amounts relate to certain lessor entities (for which legal ownership resides with financial institutions) that we are required to consolidate under U.S. GAAP into our financial statements as variable interest entities (see note 9). Golar Bear refinancing In June 2020, we refinanced the Golar Bear facility and concurrently entered into an agreement to bareboat charter the vessel with AVIC and drawdown $110.0 million. The facility has a term of seven years and bears a fixed interest rate of 4.64%. Margin loan refinancing In March 2020, the unit price of Golar Partners common units which we own and which are pledged as security for the Margin Loan facility, fell below a defined threshold and triggered a mandatory prepayment option for the Lenders. The lenders agreed to amend the existing terms of the Margin Loan rather than exercise that option. We prepaid a portion of the facility and released the associated restricted cash, reducing the principal to $30.0 million from $100.0 million and removed the mandatory prepayment clause. The facility bears an interest rate of LIBOR plus a margin of 2.95%. Golar Viking facility In January 2020, we refinanced the Golar Viking facility and concurrently entered into an agreement to bareboat charter the vessel with CSSC and drawdown $56.0 million. During the period ended June 30, 2020, we have also drawdown $33.4 million from the conversion tranche of $75.0 million facility. The facility bears an interest rate of LIBOR plus a margin of 3.8%.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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