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Debt (Tables)
3 Months Ended
Mar. 31, 2022
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, 2022December 31, 2021
Term Loan Facility, net of unamortized discount (1)
1,300 Variable3/11/2028897 897 
Senior Notes due 2029 1,075 4.63 %3/15/20291,075 1,075 
6.5% Senior Secured Notes due 2025500 6.50 %5/1/2025500 500 
Standard Bank Term Loan Facility (1)
98 Variable11/11/202698 92 
Australian Government Loan, net of unamortized discountN/AN/A12/31/2036
MGT Loan(2)
36VariableVariable32 33 
Finance leases15 14 
Long-term debt2,618 2,612 
Less: Long-term debt due within one year(16)(18)
Debt issuance costs(35)(36)
Long-term debt, net$2,567 $2,558 
_______________
(1)The average effective interest rate on the Term Loan Facility and Standard Bank Term Loan Facility was 4.5% and 6.3%, respectively, during the three months ended March 31, 2022. The average effective interest rate on the previous Term Loan Facility and previous Standard Bank Term Loan Facility was 4.5% and 6.5%, respectively, during the three months ended March 31, 2021. The increase in the Standard Bank Term Loan Facility from December 31, 2021 to March 31, 2022 is primarily a result of the impact of foreign currency translation due to the appreciation of the South African Rand.
(2)The MGT loan is a related party debt facility. The average effective interest rate on the MGT loan was 3.23% and 3.11% during the three months ended March 31, 2022 and March 31, 2021, respectively.