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DEBT, NET
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
DEBT, NET DEBT, NET
Our debt, net is summarized as follows:
December 31, 2022December 31, 2021
Outstanding BorrowingsStated Interest RateMaturity DateOutstanding Borrowings
Loans payable
Revolving Credit Facility (1)
150,000 
(i) Base Rate + 1.75%; or
(ii) Adjusted Term SOFR Rate + 2.75%
9/20/25189,473 
2021 Bridge Loans— 
(i) Base Rate + 1.75%; or
(ii) Adjusted Term SOFR Rate + 2.75%
12/15/22100,527 
Total loans payable150,000 290,000 
Bonds payable
Senior Notes due 2025 (2)
653,036 6.50%10/1/25852,198 
Senior Notes due 2027400,000 9.75%8/1/27400,000 
Senior Notes due 2028 (3)
1,002,091 5.50%5/1/281,002,416 
Total bonds payable2,055,127 2,254,614 
Debt2,205,127 2,544,614 
Less: Debt issuance costs(29,400)(43,027)
Total debt, net$2,175,727 $2,501,587 
Total debt due within one year$— $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 unamortized discount of $1,318 and $3,509 at December 31, 2022 and 2021, respectively, and an unamortized premium of $4,354 and $5,707 at December 31, 2022 and 2021, respectively.
(3) Includes an unamortized premium of $2,091 and $2,416 at December 31, 2022 and 2021, respectively.

On September 20, 2022, the Company amended and restated its Revolving Credit Facility which 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. On November 22, 2022, the Company entered into an additional amendment which provides for additional revolving commitments by Citizens Bank, National Association, as an incremental lender in an aggregate principal amount of $75.0 million (the “Incremental Commitment”). After giving effect to the Incremental Commitment, the aggregate principal amount of the Commitments available to the Company is $300.0 million (the “Revolving Credit Facility”), 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 $19.9 million as a result of these pay downs.
We were in compliance with all debt covenants as of December 31, 2022.
As of December 31, 2022, scheduled principal repayments under our debt agreements for the next five years and thereafter are summarized as follows:
20232024202520262027ThereafterTotal
Revolving Credit Facility— — 150,000 — — — 150,000 
Senior Notes due 2025— — 650,000 — — — 650,000 
Senior Notes due 2027— — — — 400,000 — 400,000 
Senior Notes due 2028— — — — — 1,000,000 1,000,000 
Total principal payments on loans and bonds payable$— $— $800,000 $— $400,000 $1,000,000 $2,200,000