XML 50 R37.htm IDEA: XBRL DOCUMENT v3.21.1
Debt (Tables)
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Long-Term Debt, Net of Unamortized Discount and Debt Issuance Costs
Long-term debt, net of an unamortized discount and debt issuance costs, consisted of the following:
Original
Principal
Annual
Interest Rate
Maturity
Date
March 31, 2021December 31, 2020
Prior Term Loan Facility, net of unamortized discount (1)
$2,150 Variable9/22/2024$— $1,607 
New Term Loan Facility, net of unamortized discount (1)
1,300 Variable3/11/20281,291 — 
Senior Notes due 2025450 5.75 %10/1/2025450 450 
Senior Notes due 2026615 6.50 %4/15/2026— 615 
Senior Notes due 2029 1,075 4.63 %3/15/20291,075 — 
6.5% Senior Secured Notes due 2025500 6.50 %5/1/2025500 500 
Standard Bank Term Loan Facility (1) (3)
222 Variable3/25/202488 115 
Tikon Loan (3)
N/AVariable5/23/202111 17 
Australian Government Loan, net of unamortized discountN/AN/A12/31/2036
MGT Loan(2)
36VariableVariable35 36 
Finance leases14 15 
Long-term debt3,465 3,356 
Less: Long-term debt due within one year(514)(58)
Debt issuance costs(50)(35)
Long-term debt, net$2,901 $3,263 
_______________
(1)Average effective interest rate on the Prior Term Loan Facility of 4.5% and 5.0% during the three months ended March 31, 2021 and 2020, respectively. Average effective interest rate on the New Term Loan Facility of 4.3% during the three months ended March 31, 2021. Average effective interest rate on the Standard Bank Term Loan Facility of 6.5% and 9.5% during the three months ended March 31, 2021 and 2020, respectively.
(2)The MGT loan is a related party debt facility.
(3)During the three months ended March 31, 2021, the Company made two voluntary prepayments totaling R260 million (approximately $17 million at March 31, 2021 exchange rate) on the Standard Bank Term Loan Facility. No prepayment penalties were required as a result of this principal prepayment. During the three months ended March 31, 2021, the Company made a voluntary prepayment of CNY 41 million (approximately $6 million at March 31, 2021 exchange rate) on the Tikon Loan. Additionally, in April 2021, the Company made a voluntary prepayment totaling R780 million (approximately $53 million at March 31, 2021 exchange rate) on the Standard Bank Term Loan Facility and repaid the remaining outstanding principal balance of $11 million on the Tikon loan. No prepayment penalties were required as a result of these principal prepayments.