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Long-Term Debt (Tables) | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Schedule of long-term debt | We must maintain the following consolidated financial ratios, as defined in the Credit Facility agreement:
EBITDA to Interest Expense | 2.5 to 1.0
Senior Secured Debt to EBITDA | 3.5 to 1.0
Total Debt to EBITDA |
Through fiscal year 2019 | 5.75 to 1.0
Through second quarter of 2020 | 5.50 to 1.0
Thereafter (1) | 5.25 to 1.0
——————
(1) | Subject to a temporary increase to 5.5 to 1.0 for any quarter during which an acquisition satisfying certain thresholds is completed and for the two quarters immediately following such quarter.
Long-term debt consisted of the following (in thousands):
| June 30, 2019 |  | December 31, 2018
Credit Facility | $ | 792,500 |  |  | $ | 839,500 |
2027 Notes | 500,000 |  |  | — |
Less: Deferred financing costs, net of amortization | (8,550 | ) |  | — |
| 491,450 |  |  | — |
2022 Notes | 350,000 |  |  | 350,000 |
Less: Debt discount, net of amortization | (2,411 | ) |  | (2,766 | )
Less: Deferred financing costs, net of amortization | (2,725 | ) |  | (3,133 | )
| 344,864 |  |  | 344,101 |
2021 Notes | — |  |  | 350,000 |
Less: Debt discount, net of amortization | — |  |  | (1,789 | )
Less: Deferred financing costs, net of amortization | — |  |  | (2,311 | )
| — |  |  | 345,900 |
Long-term debt | $ | 1,628,814 |  |  | $ | 1,529,501 |

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