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Note 6 - Long-Term Debt

9 Months Ended

Sep. 30, 2019

NOTE 6. LONG-TERM DEBT

Long-term debt, net of current maturities and debt issuance costs, consists of the following:

	*September 30, 2019*
								*Unamortized*
	*Interest*							*Origination*
	*Rates at*		*Outstanding*		*Unamortized*			*Fees and*			*Long-Term*
*(In thousands)*	*September 30, 2019*		*Principal*		*Discount*			*Costs*			*Debt, Net*
Bank credit facility	4.154	%	$	1,592,308	$	(953	)	$	(17,411	)	$	1,573,944
6.875% senior notes due 2023	6.875	%		750,000		—			(6,385	)		743,615
6.375% senior notes due 2026	6.375	%		750,000		—			(8,601	)		741,399
6.000% senior notes due 2026	6.000	%		700,000		—			(9,593	)		690,407
Other	11.041	%		58,379		—			—			58,379
Total long-term debt				3,850,687		(953	)		(41,990	)		3,807,744
Less current maturities				26,994		—			—			26,994
Long-term debt, net			$	3,823,693	$	(953	)	$	(41,990	)	$	3,780,750

	*December 31, 2018*
								*Unamortized*
	*Interest*							*Origination*
	*Rates at*		*Outstanding*		*Unamortized*			*Fees and*			*Long-Term*
*(In thousands)*	*December 31, 2018*		*Principal*		*Discount*			*Costs*			*Debt, Net*
Bank credit facility	4.651	%	$	1,771,330	$	(1,286	)	$	(21,515	)	$	1,748,529
6.875% senior notes due 2023	6.875	%		750,000		—			(7,701	)		742,299
6.375% senior notes due 2026	6.375	%		750,000		—			(9,594	)		740,406
6.000% senior notes due 2026	6.000	%		700,000		—			(10,639	)		689,361
Other	11.010	%		58,705		—			—			58,705
Total long-term debt				4,030,035		(1,286	)		(49,449	)		3,979,300
Less current maturities				24,181		—			—			24,181
Long-term debt, net			$	4,005,854	$	(1,286	)	$	(49,449	)	$	3,955,119

BOYD GAMING CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) — (Continued)

as of September 30, 2019 and December 31, 2018 and for the three and nine months ended September 30, 2019 and 2018

______________________________________________________________________________________________________

The outstanding principal amounts under our bank credit facility are comprised of the following:

	*September 30,*		*December 31,*
*(In thousands)*	*2019*		*2018*
Revolving Credit Facility	$	265,000	$	320,000
Term A Loan		237,813		248,351
Refinancing Term B Loans		1,058,195		1,152,679
Swing Loan		31,300		50,300
Total outstanding principal amounts under the bank credit facility	$	1,592,308	$	1,771,330

With a total revolving credit commitment of $945.5 million available under the bank credit facility, $265.0 million was borrowed on the Revolving Credit Facility, $31.3 million was borrowed on the Swing Loan and $12.7 million allocated to support various letters of credit, leaving a remaining contractual availability of $636.5 million as of September 30, 2019.

Covenant Compliance

As of September 30, 2019, we believe that we were in compliance with the financial and other covenants of our debt instruments.