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LONG-TERM DEBT (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Outstanding
Long-term debt outstanding for the Successor Company as of March 31, 2020 and December 31, 2019 consisted of the following:
(In thousands)
Successor Company
 
March 31, 2020
 
December 31, 2019
Term Loan Facility due 2026(1)
$
2,096,018

 
$
2,251,271

Asset-based Revolving Credit Facility due 2023(2)
350,000

 
—

6.375% Senior Secured Notes due 2026
800,000

 
800,000

5.25% Senior Secured Notes due 2027
750,000

 
750,000

4.75% Senior Secured Notes due 2028
500,000

 
500,000

Other secured subsidiary debt(3)
20,541

 
20,992

Total consolidated secured debt
4,516,559

 
4,322,263

 
 
 
 
8.375% Senior Unsecured Notes due 2027
1,450,000

 
1,450,000

Other unsecured subsidiary debt
6,182

 
12,581

Long-term debt fees
(19,106
)
 
(19,428
)
Total debt
5,953,635

 
5,765,416

Less: Current portion
29,969

 
8,912

Total long-term debt
$
5,923,666

 
$
5,756,504

(1)
On February 3, 2020, iHeartCommunications made a $150.0 million prepayment using cash on hand and entered into an agreement to amend the Term Loan Facility to reduce the interest rate to LIBOR plus a margin of 3.00%, or the Base Rate (as defined in the credit agreement) plus a margin of 2.00% and to modify certain covenants contained in the credit agreement.
(2)
On March 13, 2020, iHeartCommunications borrowed $350.0 million under the ABL Facility, the proceeds of which were invested as cash on the Balance Sheet. As of March 31, 2020, the ABL Facility had a facility size of $450.0 million and $350.0 million of outstanding borrowings and $47.3 million of outstanding letters of credit, resulting in $52.7 million of availability. Amounts available under the ABL Facility are calculated using a borrowing base calculated by reference to our outstanding accounts receivable. To the extent decreases in our accounts receivable result in the borrowing base decreasing to an amount below the amount drawn, we may be required to make a partial repayment of amounts outstanding under our ABL Facility.
(3)
Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2021 through 2045.