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Debt (Tables)

12 Months Ended

Dec. 31, 2020

Our syndicated Credit Agreement includes a $75 million, five-year undrawn revolving credit facility, as well as the following term loans:


(in thousands)	December 31, 2020		December 31, 2019
Term loan A-1	$	229,437	$	258,571
Term loan A-2	468,481		473,469
	697,918		732,040
Less: unamortized loan fees	9,455		11,926
Total debt, net of unamortized loan fees	$	688,463	$	720,114

Financial Covenants in Credit Agreements

As shown below, as of December 31, 2020, the Company was in compliance with the financial covenants in its credit agreements.


	Actual		Covenant Requirement
Total leverage ratio	2.0		3.25 or Lower
Debt service coverage ratio	6.6		2.0 or Higher
Minimum liquidity balance (in millions)	$	270.4	$25.0 or Higher

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details