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Subsequent Events | 6 Months Ended
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Jun. 30, 2023
Subsequent Events [Abstract] |
Subsequent Events | SUBSEQUENT EVENTS Debt Exchange Transactions On July 25, 2023, the Company entered into an Exchange Agreement with funds managed by Angelo, Gordon & Co., L.P. (“Angelo Gordon”) a Delaware limited partnership (the “Significant Noteholder Exchange”), pursuant to which Angelo Gordon agreed to exchange approximately $273 million of the 5.75% Senior Notes and 5.25% Senior Notes it holds for approximately $218 million in new 7.00% Second Lien Senior Secured Notes due 2030 (the “7.00% Second Lien Senior Secured Notes”). In addition, on July 25, 2023, the Company commenced offers to exchange (the “Exchange Offer”) up to approximately $527 million in aggregate principal amount of the outstanding 5.75% Senior Notes and 5.25% Senior Notes for up to approximately $422 million in aggregate principal amount the 7.00% Second Lien Senior Secured Notes, in each case upon similar terms and conditions as the Significant Noteholder Exchange, as set forth in a confidential offering memorandum. Each Exchange Offer will expire at 5:00 p.m., New York City time, on August 22, 2023, unless extended or terminated. The consummation of the Exchange Offers is not conditioned upon the consummation of the Significant Noteholder Exchange or vice versa.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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