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Debt
9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Debt Debt
Debt consisted of the following (in thousands):
September 30,
2021
December 31, 2020Weighted Average Interest Rate at September 30, 2021Final Maturity
Senior Secured Notes$343,435 $343,435 8%2024
ABL Borrowings— 40,000 4%2023
Debt discount/premium, net(2,944)(3,527)
Total debt340,491 379,908 
Less: current debt— — 
Total long-term debt$340,491 $379,908 
Senior Secured Notes
    On November 2, 2017, the Company issued $350.0 million aggregate principal amount of its 8.00% Senior Secured Notes due 2024 (the "Original Notes"). It then issued an additional $125.0 million in aggregate principal amount of its 8.00% Senior Secured Notes due 2024 (the “New Notes” and, together with the Original Notes, the "Notes") on March 1, 2018. The New Notes were issued as "Additional Notes" under the indenture dated as of November 2, 2017 (the "Original Indenture"), among the Company, the subsidiary guarantors party thereto and Wilmington Trust, National Association, as trustee and priority lien collateral trustee, as supplemented by the First Supplemental Indenture, dated as of March 1, 2018 (the "First Supplemental Indenture" and, the Original Indenture as supplemented thereby and by the Second Supplemental Indenture, dated as of March 2, 2018, the "Indenture"). The Notes mature on November 1, 2024 and interest is payable on May 1 and November 1 of each year.
ABL Facility

On March 24, 2020, the Company borrowed $70.0 million in a partial draw of the ABL Facility (the “ABL Draw”) as a precautionary measure in order to increase the Company’s cash position and preserve financial flexibility in light of the current uncertainty resulting from the COVID-19 outbreak. In June 2020, the Company reduced the outstanding principal amount of the ABL Draw by $30.0 million and during the three months ended September 30, 2021, the Company reduced the outstanding principal amount of the ABL Draw by $40.0 million. As of September 30, 2021, no loans were outstanding under the ABL Facility and there were $9.4 million of letters of credit issued and outstanding under the ABL Facility. At September 30, 2021, the Company had $87.3 million of availability under the ABL Facility (calculated net of $9.4 million of letters of credit outstanding at such time).