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DEBT, NET
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
DEBT, NET
8. DEBT, NET
Our debt, net is summarized as follows:
September 30, 2022December 31, 2021
Outstanding BorrowingsStated Interest RateMaturity DateOutstanding Borrowings
Loans payable
Revolving Credit Facility (1)
$— 
(i) Base Rate + 1.75%; or
(ii) Adjusted Term SOFR Rate + 2.75%
9/20/25$189,473 
2021 Bridge Loans— 
(i) Base Rate + 1.75%; or
(ii) Adjusted Term SOFR Rate + 2.75%
12/15/22100,527 
Total loans payable— 290,000 
Bonds payable
Senior Notes due 2025 (2)
653,269 6.50%10/1/25852,198 
Senior Notes due 2027400,000 9.75%8/1/27400,000 
Senior Notes due 2028 (3)
1,002,174 5.50%5/1/281,002,416 
Total bonds payable2,055,443 2,254,614 
Debt2,055,443 2,544,614 
Less: Debt issuance costs(30,894)(43,027)
Total debt, net$2,024,549 $2,501,587 
Total debt due within one year$— $100,527 
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(1) Requires a quarterly commitment fee at a rate of 0.50% on the average daily unused portion, as well as customary letter of credit fees and agency fees.
(2) Includes an unamortized discount of $1,431 and $3,509 at September 30, 2022 and December 31, 2021, respectively, and an unamortized premium of $4,700 and $5,707 at September 30, 2022 and December 31, 2021, respectively.
(3) Includes an unamortized premium of $2,174 and $2,416 at September 30, 2022 and December 31, 2021, respectively.

On September 20, 2022, the Company amended its Revolving Credit Facility by executing a Second Amended and Restated Credit Agreement (the “Amendment”) to the Amended and Restated Credit Agreement, dated as of December 2, 2021 (as amended by Amendment No. 1, dated as of April 28, 2022). The Amendment provides for revolving loans to be made available to the Company in an aggregate principal amount of up to $225.0 million, of which up to $25.0 million may be utilized for the issuance of letters of credit.
In conjunction with the spin-off of FTAI Infrastructure, the Company repaid all outstanding borrowings under its 2021 bridge loans and $200.0 million of its 6.50% senior unsecured notes due 2025, and approximately $175.0 million of the outstanding
borrowings under its revolving credit facility. The Company recorded a loss on extinguishment of debt of $19.9 million as a result of these paydowns.
We were in compliance with all debt covenants as of September 30, 2022.