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CREDIT FACILITIES AND NOTES PAYABLE (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of First Lien Credit Agreement | During the periods covered by this report, the base rates, margins and effective interest rates (without giving effect to our 2019 Swaps) were as follows for the periods indicated:
Period | Base Rate plus Margin | Effective Rate
Through March 31, 2023 | Eurodollar plus 2.50% Alternative Base Rate plus 2.00% | 4.63% 8.00%
April 1, 2023 to April 18, 2024 | SOFR plus 3.00% Alternative Base Rate plus 2.00% | 8.33% (credit spread adjustment of 0.11%) 10.5%
After April 18, 2024 to November 26, 2024 | SOFR plus 2.5% Prime Rate plus 1.5% | 7.13% (credit spread adjustment of 0.00% ) 9.25%
After November 26, 2024 | SOFR plus 2.25% Prime Rate plus 1.25% | 6.77% (credit spread adjustment of 0.00% ) 8.8%
As of December 31, 2024 and 2023 our term loan debt and other obligations are as follows (in thousands):
| December 31, 2024 |  | December 31, 2023
Barclays Term Loans collateralized by RadNet's tangible and intangible assets | $ | 870,625 |  |  | $ | 678,687 |
Discount on Barclays Term Loans | (12,929) |  |  | (9,041) |
Truist Term Loan Agreement collateralized by NJIN's tangible and intangible assets | 135,000 |  |  | 144,375 |
Discount on Truist Term Loan Agreement | (726) |  |  | (990) |
Revolving Credit Facilities | — |  |  | — |
Equipment notes payable at 3.6% to 7.2%, due through 2029, collateralized by medical equipment | 24,296 |  |  | 17,011 |
Total debt obligations | 1,016,266 |  |  | 830,042 |
Less: current portion | (24,692) |  |  | (17,974) |
Long term portion of debt obligations | $ | 991,574 |  |  | $ | 812,068 |
Schedule of Annual Principal Maturities of Notes Payable | The following is a listing of annual principal maturities of notes payable exclusive of all related discounts and repayments on our revolving credit facilities for years ending December 31 (in thousands)
2025 | $ | 27,025 |
2026 | 26,920 |
2027 | 128,440 |
2028 | 11,666 |
2029 | 8,995 |
Thereafter | 826,875 |
Total notes payable obligations | $ | 1,029,921 |

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