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Long-Term Debt (Tables) | 6 Months Ended
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Jun. 30, 2020
Long-Term Debt |
Reconciliation of principal balance of outstanding debt | The following table reconciles the principal balances of our outstanding debt to our condensed consolidated balance sheets, in thousands:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ |  | June 30, |  | December 31,
​ | ​ | 2020 |  | 2019
Senior Notes - 5.625% due May 2026 | ​ | $ | 400,000 | ​ | $ | 400,000
Term loan | ​ | ​ | 296,250 | ​ | ​ | 305,625
Equipment notes | ​ | ​ | 29,492 | ​ | ​ | 33,525
Unamortized debt issuance costs | ​ | ​ | (8,254) | ​ | ​ | (6,923)
Total debt, net of unamortized debt issuance costs | ​ | ​ | 717,488 | ​ | ​ | 732,227
Less: current portion of long-term debt | ​ | ​ | 23,168 | ​ | ​ | 34,272
Total long-term debt | ​ | $ | 694,320 | ​ | $ | 697,955
Schedule of remaining principal payments of debt | The following table sets forth our remaining principal payments for our outstanding debt balances as of June 30, 2020, in thousands:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Payments Due by Period
​ | ​ | 2020 | ​ | 2021 | ​ | 2022 | ​ | 2023 | ​ | 2024 | ​ | Thereafter | ​ | Total
Senior Notes | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 400,000 | ​ | $ | 400,000
Term loan |  | ​ | 7,500 |  | ​ | 15,000 |  | ​ | 20,625 |  | ​ | 22,500 |  | ​ | 28,125 |  | ​ | 202,500 |  | ​ | 296,250
Equipment notes | ​ | ​ | 4,048 | ​ | ​ | 8,326 | ​ | ​ | 8,651 | ​ | ​ | 6,337 | ​ | ​ | 2,130 | ​ | ​ | — | ​ | ​ | 29,492
Total | ​ | $ | 11,548 | ​ | $ | 23,326 | ​ | $ | 29,276 | ​ | $ | 28,837 | ​ | $ | 30,255 | ​ | $ | 602,500 | ​ | $ | 725,742
Summary of key terms of Amended Credit Agreement | The following table outlines the key terms of our Amended Credit Agreement (dollars in thousands): ​
​ | ​ | ​ | ​
Senior secured term loan facility | $ | 300,000 | ​
​ | ​ | ​ | ​
Additional term loan and/or revolver capacity available under incremental facility (a) | $ | 300,000 | ​
​ | ​ | ​ | ​
Revolving Facility | $ | 450,000 | ​
Sublimit for issuance of letters of credit under Revolving Facility (b) | $ | 100,000 | ​
Sublimit for swingline loans under Revolving Facility (b) | $ | 35,000 | ​
​ | ​ | ​ | ​
Interest rate as of June 30, 2020 | ​ | 1.75 | %
Scheduled maturity date | ​ | 3/20/2025 | ​
(a) | Additional borrowing capacity is available under the incremental facility, subject to certain terms and conditions (including existing or new lenders providing commitments in respect of such additional borrowing capacity).
(b) | Use of the sublimits for the issuance of letters of credit and swingline loans reduces the availability under the Revolving Facility.
​
Schedule of availability under the Revolving Facility | The following table summarizes our availability under the Revolving Facility, in thousands: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | June 30, |  | December 31,
​ |  | 2020 |  | 2019
Revolving Facility | ​ | $ | 450,000 | ​ | $ | 250,000
Less: standby letters of credit | ​ | ​ | (60,382) | ​ | ​ | (61,382)
Availability under Revolving Facility | ​ | $ | 389,618 | ​ | $ | 188,618
Schedule of the key financial covenants |
​ | ​ | ​
​ | ​ | As of June 30, 2020
Maximum Net Leverage Ratio | ​ | 3.50:1.00
Minimum Interest Coverage Ratio | ​ | 3.00:1.00
Compliance as of period end | ​ | In Compliance

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