Note 7: Long-Term Debt

Our revolving credit facility and long-term debt consists of the following:

	June 30,			December 31,
	2016			2015
	(In Thousands)
Working Capital Revolver Loan, with a current interest rate of 4.00% (A)	$	30,907		$	—
7.75% Senior Secured Notes due 2019 (B)		425,000			425,000
12% Senior Secured Notes due 2019 (B)		50,000			50,000
Secured Promissory Note due 2017, with a current interest rate of 3.69% (C)		10,804			15,856
Secured Promissory Note due 2019, with a current interest rate of 5.73% (D)		9,667			—
Secured Promissory Note due 2021, with a current interest rate of 5.25% (E)		15,716			16,189
Secured Promissory Note due 2023, with a current interest rate of 4.72% (F)		19,635			15,000
Other, with a current weighted-average interest rate of 4.50%, most of which is secured primarily by machinery and equipment		5,546			7,103
Unamortized discount and debt issuance costs		(7,690	)		(8,726	)
		559,585			520,422
Less revolving credit facility and current portion of long-term debt		46,080			22,468
Long-term debt due after one year, net	$	513,505		$	497,954

(A) Our revolving credit facility (the “Working Capital Revolver Loan”), which matures on April 13, 2018, provides advances up to $100 million, based on specific percentages of eligible accounts receivable and inventories and up to $15 million of letters of credit, the outstanding amount of which reduces the available for borrowing under the Working Capital Revolver Loan. See Note 15-Subsequent Event.

(B) The Senior Secured Notes mature on August 1, 2019. Interest is to be paid semiannually on February 1st and August 1st. The Senior Secured Notes are general senior secured obligations of LSB. The Senior Secured Notes are jointly and severally and fully and unconditionally guaranteed by all of LSB’s current wholly-owned subsidiaries, with all of the guarantees, except one, being senior secured guarantees and one being a senior unsecured guarantee. The Senior Secured Notes rank equally in right of payment to all of LSB and the guarantors’ existing and future senior secured debt, including the Working Capital Revolver Loan discussed above, and are senior in right of payment to all of LSB and the guarantors’ future subordinated indebtedness.

(C) On April 1, 2016, Zena Energy L.L.C. (“Zena”), one of our subsidiaries, entered into the second amended and restated note (the “Amended Note”) with its original lender. Principal and interest are payable in 20 monthly installments with the first installment made on May 1^st. Interest is based on the LIBOR rate plus 300 basis points and the terms of which were not changed by this amendment. The Amended Note matures on December 1, 2017. The Amended Note continues to be secured by certain working interests and related properties and proceeds.

(D) On February 5, 2016, El Dorado Chemical Company (“EDC”), one of our subsidiaries, entered into a secured promissory note (the “Secured Promissory Note due 2019”) for an original principal amount of $10 million that matures on June 29, 2019. Principal and interest are payable in 40 equal monthly installments with a final balloon payment of approximately $6.7 million. The Secured Promissory Note due 2019 is secured by the cogeneration facility equipment and is guaranteed by LSB.

(E) EDC’s Secured Promissory Note due 2021 matures on March 26, 2021. This note required interest only monthly payments for the first 12 months of the term (through April 2016) and then principal and interest monthly payments through the remaining term. This note is secured by a natural gas pipeline constructed at the El Dorado Facility and is guaranteed by LSB.

Note 7: Long-Term Debt (continued)

(F) On September 16, 2015, El Dorado Ammonia L.L.C. (“EDA”), one of our subsidiaries, entered into a secured promissory note (the “Secured Promissory Note due 2023”) for the construction financing of an ammonia storage tank and related systems with an initial funding received of $15 million and a maximum principal note amount of $19.8 million. On May 13, 2016 (the “Loan Conversion Date”), the remainder of the funding of $4.8 million was drawn and the outstanding principal balance of $19.8 million was converted to a seven year secured term loan requiring 83 equal monthly principal and interest payments with a final balloon payment of approximately $6.1 million. This Note bears interest at a rate that is based on the monthly LIBOR rate plus 4.25%. The Secured Promissory Note is secured by the ammonia storage tank and related systems and is guaranteed by LSB.