Long-term debt outstanding as of March 31, 2018 and December 31, 2017 consisted of the following:



(In thousands)	March 31, 2018			December 31, 2017
Senior Secured Credit Facilities	$	—		$	6,300,000
Receivables Based Credit Facility Due 2020⁽¹⁾	379,047			405,000
9.0% Priority Guarantee Notes Due 2019	—			1,999,815
9.0% Priority Guarantee Notes Due 2021	—			1,750,000
11.25% Priority Guarantee Notes Due 2021	—			870,546
9.0% Priority Guarantee Notes Due 2022	—			1,000,000
10.625% Priority Guarantee Notes Due 2023	—			950,000
Subsidiary Revolving Credit Facility Due 2018⁽²⁾	—			—
Other secured subsidiary debt⁽³⁾	4,385			8,522
Total consolidated secured debt	383,432			13,283,883

14.0% Senior Notes Due 2021	—			1,763,925
Legacy Notes⁽⁴⁾	—			475,000
10.0% Senior Notes Due 2018⁽⁵⁾	—			47,482
Subsidiary Senior Notes due 2022	2,725,000			2,725,000
Subsidiary Senior Subordinated Notes due 2020	2,200,000			2,200,000
Clear Channel International B.V. Senior Notes due 2020	375,000			375,000
Other subsidiary debt	333			24,615
Purchase accounting adjustments and original issue discount⁽⁶⁾	(360		)	(136,653		)
Long-term debt fees⁽⁶⁾	(45,915		)	(109,071		)
Long-term debt, net subject to compromise⁽⁷⁾	15,150,191			—
Total debt, prior to reclassification to Liabilities subject to compromise	20,787,681			20,649,181
Less: current portion	820			14,972,367
Less: Amounts reclassified to Liabilities subject to compromise	15,150,191			—
Total long-term debt	$	5,636,670		$	5,676,814

(1)

On November 30, 2017, iHeartCommunications refinanced its receivables based credit facility and replaced it with a $300.0 million term loan and revolving credit commitments of $250.0 million. The facility has a three-year term, maturing in 2020 and accrues interest at a rate of LIBOR plus 4.75%. On January 18, 2018, iHeartCommunications incurred $25.0 million of additional borrowings under the revolving credit loan portion of this facility bringing its total outstanding borrowings under the facility to $430.0 million. In February 2018, iHeartCommunications prepaid $59.0 million on the revolving credit loan portion of this facility. On the Petition Date, the Company incurred a prepayment premium of $5.5 million upon acceleration of the loans and pre-petition accrued interest and fees totaling $2.4 million, which were added to the principal amount outstanding under the facility, bringing the total outstanding borrowings under the facility to $379.0 million.


(2)	The Subsidiary Revolving Credit Facility provides for borrowings up to $75.0 million (the revolving credit commitment). The facility matures on August 22, 2018, and CCOH is in advanced negotiations with potential lenders to refinance the existing credit facility prior to its maturity.


(3)	Other secured subsidiary debt matures at various dates from 2018 through 2045.

(4)

iHeartCommunications' Legacy Notes, all of which were issued prior to the acquisition of iHeartCommunications by the Company in 2008, consist of Senior Notes maturing at various dates in 2018 and 2027, as well as $57.1 million of Senior Notes due 2016 held by a subsidiary of the Company that remain outstanding but are eliminated for purposes of consolidation of the Company’s financial statements.


(5)	On January 4, 2018, iHeartCommunications repurchased $5.4 million aggregate principal amount of 10.0% Senior Notes due 2018 that were held by unaffiliated third parties for $5.3 million in cash. On January 16, 2018, iHeartCommunications repaid the remaining balance of $42.1 million aggregate principal amount of 10.0% Senior Notes due 2018 at maturity.


(6)	As a result of the Company's Chapter 11 Cases, the Company expensed $54.7 million of deferred long-term debt fees and $131.1 million of original issue discount to Reorganization items, net, in the Consolidated Statement of Comprehensive Loss for the three months ended March 31, 2018.

(7)

In connection with the Company's Chapter 11 Cases, the $6.3 billion outstanding under the Senior Secured Credit Facilities, the $1,999.8 million outstanding under the 9.0% Priority Guarantee Notes due 2019, the $1,750.0 million outstanding under the 9.0% Priority Guarantee Notes due 2021, the $870.5 million of 11.25% Priority Guarantee Notes due 2021, the $1,000.0 million outstanding under the 9.0% Priority Guarantee Notes due 2022, the $950.0 million outstanding under the 10.625% Priority Guarantee Notes due 2023, $6.1 million outstanding Other Secured Subsidiary debt, the $1,781.6 million outstanding under the 14.0% Senior Notes due 2021, the $475.0 million outstanding under the Legacy Notes and $17.2 million outstanding Other Subsidiary Debt have been reclassified to Liabilities subject to compromise in the Company's Consolidated Balance Sheet as of March 31, 2018. As of the Petition Date, the Company ceased accruing interest expense in relation to long-term debt reclassified as Liabilities subject to compromise.