During the three months ended September 30, 2021, we permanently reduced the size of our unsecured revolving credit facility under our Credit Agreement by $600.0 million to $600.0 million, and on February 11, 2022 we amended our Credit Agreement to provide an unsecured revolving credit facility of $450.0 million. See Note 20 - Subsequent Events for more information.

On March 25, 2020, we amended and restated our Credit Agreement to, among other things, (i) establish a deemed Consolidated EBITDA of $139.2 million for the second and third quarters of 2020, reflecting average Adjusted EBITDA from continuing operations for the prior eight quarters (calculated for purposes of the Credit Agreement), which will be used in the calculation of rolling four consecutive quarter Consolidated EBITDA under the Credit Agreement, (ii) temporarily increase the maximum consolidated net leverage ratio required to be maintained by us from 4.50:1:00 to 5.00:1:00 for the second and third quarters of 2020 and 4.75:1:00 for the fourth quarter of 2020, before returning to 4.50:1:00 for the first quarter of 2021 and beyond, (iii) require that we maintain minimum availability under the Credit Agreement of $300.0 million through the third quarter of 2021, (iv) provide for a weekly repayment of borrowings under the Credit Agreement through the second quarter of 2021 using unrestricted cash on hand in excess of $300.0 million, plus a reserve for certain payables, and (v) temporarily restricted our ability to make restricted payments under the Credit Agreement for the remainder of 2020, subject to certain exceptions.

In December 2015, we completed a private offering of $750.0 million aggregate principal amount of 2023 Notes. In November 2018, we completed a private offering of $500.0 million aggregate principal amount of 2027 Notes and in February 2019, we completed a private offering of $500.00 million aggregate principal amount of Additional 2027 Notes. At December 31, 2021, 2020 and 2019, the outstanding balance on the 2027 Notes was $1.0 billion. Our obligations under the 2023 Notes and the 2027 Notes were guaranteed on an unsecured senior basis by the same subsidiaries and affiliated professional contractors that guaranteed the Credit Agreement. Interest on the 2027 Notes accrued at the rate of 6.25% per annum, or $62.5 million, and was payable semi-annually in arrears on January 15 and July 15.

On January 7, 2021, we redeemed the 2023 Notes in full. On February 11, 2022, we redeemed the 2027 Notes in full. See Note 20 - Subsequent Events for more information.

The carrying value of the Company’s long-term debt was $989.7 million and $1.7 billion at December 31, 2021 and 2020, respectively, and consisted of the following (in thousands):


	December 31, 2021
	Principal		Unamortized Debt Issuance Costs			Total
Senior notes	$	1,000,000	$	(9,712	)	$	990,288
Revolving line of credit		—		(628	)		(628	)
Total	$	1,000,000	$	(10,340	)	$	989,660


	December 31, 2020
	Principal		Unamortized Debt Issuance Costs			Total
Senior notes	$	1,750,000	$	(16,343	)	$	1,733,657
Revolving line of credit		—		(2,260	)		(2,260	)
Total	$	1,750,000	$	(18,603	)	$	1,731,397

The Company presents issuance costs related to long-term debt liabilities, other than revolving credit arrangements, as a direct deduction from the carrying value of that long-term debt. The Company has one outstanding letter of credit which reduced the amount available under the Credit Agreement by $0.1 million at December 31, 2021. At December 31, 2021, the Company had an available balance on its Credit Agreement of $599.9 million.

The carrying values of the Company’s variable rate revolving line of credit approximates fair value due to the short-term nature of the interest rates. The estimated fair value of the Company’s 2023 Notes and 2027 Notes

were estimated using trading prices as of December 31, 2021 and 2020, respectively, as Level 2 inputs to estimate fair value for relevant periods and are summarized as follows (in thousands):


	December 31,
	2021		2020
2023 Notes	$	—	$	756,225
2027 Notes		1,047,190		1,070,000

The Company’s finance lease obligations, related to equipment used in its newborn hearing screen program, consist of the following (in thousands):


	December 31,
	2021			2020
Finance lease obligations	$	14,178		$	11,118
Less: Current portion		(2,490	)		(2,219	)
Long-term portion	$	11,688		$	8,899