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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Instruments

Schedule of long-term debt

Long-term debt consisted of the following (in thousands):

​	​	​	​	​	​	​
​	​	December 31,
​		2020		​	2019
Credit Facility	​	$	393,000	​	$	513,000
​	​	​	​	​	​	​
2028 Notes	​		800,000	​		500,000
Add: Debt premium, net of amortization	​	​	14,541	​		—
Less: Deferred financing costs, net of amortization	​		(11,766)	​		(8,090)
​	​		802,775	​		491,910
​	​	​	​	​	​	​
2027 Notes	​	​	500,000	​		500,000
Less: Deferred financing costs, net of amortization	​	​	(6,908)	​		(7,999)
​	​	​	493,092	​		492,001
​	​	​	​	​	​	​
2022 Notes	​		—	​		350,000
Less: Debt discount, net of amortization	​		—	​		(2,046)
Less: Deferred financing costs, net of amortization	​		—	​		(2,316)
​	​		—	​		345,638
​	​	​	​	​	​	​
Long-term debt	​	$	1,688,867	​	$	1,842,549

​

Schedule of Maturities of Long-term Debt

Contractual maturities of long-term debt over the next five years, excluding interest to be accrued, at December 31, 2020 were as follows (in thousands):

​	​	​	​
2021		$	—
2022	​		—
2023	​		—
2024	​		393,000
2025	​		—
Long-term debt maturities through 2025	​	$	393,000

Credit Facility, Amendment 2

Debt Instruments

Schedule of financial ratios to be maintained defined in Credit Facility agreement

As of December 31, 2020, the following consolidated financial ratios, as defined in our Credit Facility agreement, were required:

​

​	​	​
EBITDA to Interest Expense		2.5 to 1.0
Senior Secured Debt to EBITDA		3.5 to 1.0
Total Debt to EBITDA
January 1 through June 30, 2020		5.50 to 1.0
Thereafter (1)		5.25 to 1.0

(1) Subject to a temporary increase to 5.50 to 1.0 for any quarter during which an acquisition satisfying certain thresholds is completed and for the two quarters immediately following such quarter.

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