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Long-Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Our long-term debt consists of the following:
|  | September 30, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
|  | (In Thousands) |
Working Capital Revolver Loan, with a current interest rate of 4.75% (A) |  | $ | — |  |  | $ | — |
Senior Secured Notes due 2019 (B) |  |  | 375,000 |  |  |  | 375,000 |
Secured Promissory Note due 2017 (C) |  |  | — |  |  |  | 6,566 |
Secured Promissory Note due 2019, with a current interest rate of 5.73% (D) |  |  | 8,417 |  |  |  | 9,167 |
Secured Promissory Note due 2021, with a current interest rate of 5.25% (E) |  |  | 12,030 |  |  |  | 14,272 |
Secured Promissory Note due 2023, with a current interest rate of 5.48% (F) |  |  | 17,160 |  |  |  | 18,645 |
Other, with a current weighted-average interest rate of 4.51%, most of which is secured primarily by machinery and equipment |  |  | 3,226 |  |  |  | 4,185 |
Unamortized discount and debt issuance costs |  |  | (5,420 | ) |  |  | (7,615 | )
|  |  | 410,413 |  |  |  | 420,220 |
Less current portion of long-term debt, net |  |  | 9,336 |  |  |  | 13,745 |
Long-term debt due after one year, net |  | $ | 401,077 |  |  | $ | 406,475 |
(A) Our revolving credit facility (the “Working Capital Revolver Loan”), as amended in January 2017, provides advances up to $50 million (but provides an ability to expand the commitment an additional $25 million), based on specific percentages of eligible accounts receivable and inventories and up to $10 million of letters of credit, the outstanding amount of which reduces the available for borrowing under the Working Capital Revolver Loan. At September 30, 2017, our available borrowings under our Working Capital Revolver Loan were approximately $38.6 m illion, ba sed o n our eligible collateral, less outstanding letters of credit. The maturity date of the Working Capital Revolver Loan is January 17, 2022, with a springing earlier maturity date (the “Springing Maturity Date”) that is 90 days prior to the maturity date of our Senior Secured Notes, to the extent the Senior Secured Notes are not refinanced or repaid prior to the Springing Maturity Date. The Working Capital Revolver Loan also provides for a springing financial covenant (the “Financial Covenant”), which requires that, if the borrowing availability is less than or equal to the greater of 10.0% of the total revolver commitments and $5 million, then the borrowers must maintain (a) with respect to relevant periods ending on or prior to September 30, 2017, a minimum EBITDA in the amount set forth in the Working Capital Revolver Loan Amendment and (b) with respect to relevant periods ending after September 30, 2017, a minimum fixed charge coverage ratio of not less than 1.00 to 1.00. The Financial Covenant, if triggered, is tested monthl y. (B) The Senior Secured Notes mature on August 1, 2019. Interest is to be paid semiannually on February 1st and August 1st. In September 2016, we entered into the First Supplemental Indenture to the original Indenture (the “Origi nal 7.75 In denture”) that, among other things, increased the annual interest rate to 8.5% from 7.75%, effective August 1, 2016. (C) During the second quarter of 2017, concurrently with the closing of the purchase and sale agreement relating to Zena discussed in Note 1, a portion of the net proceeds (approximately $3.5 million) from the sale was used to repay the remaining outstanding balance of this promissory note. (D) El Dorado Chemical Company (“EDC”), one of our subsidiaries, is party to a secured promissory note due June 29, 2019. Principal and interest are payable in equal monthly installments with a final balloon payment of approximately $6.7 million. (E) El Dorado Chemical Company (“EDC”), one of our subsidiaries, is party to a secured promissory note due March 26, 2021. Principal and interest are payable in monthly installments. (F) El Dorado Ammonia L.L.C. (“EDA”), one of our subsidiaries, is party to a secured promissory note due in May 2023. Principal and interest are payable in equal monthly installments with a final balloon payment of approximately $6.1 million. This promissory note bears interest at a rate that is based on the monthly LIBOR rate plu s a base rate.

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