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LONG-TERM DEBT (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Outstanding | Long-term debt outstanding for the Successor Company as of June 30, 2020 and December 31, 2019 consisted of the following:
(In thousands) | Successor Company |  |
| June 30, 2020 |  | December 31, 2019
Term Loan Facility due 2026(1)(4) | $ | 2,090,765 |  |  | $ | 2,251,271 |
Asset-based Revolving Credit Facility due 2023(2)(4) | 235,000 |  |  | — |
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) | 23,632 |  |  | 20,992 |
Total consolidated secured debt | 4,399,397 |  |  | 4,322,263 |
8.375% Senior Unsecured Notes due 2027 | 1,450,000 |  |  | 1,450,000 |
Other unsecured subsidiary debt | 6,312 |  |  | 12,581 |
Long-term debt fees | (18,587) |  |  | (19,428) |
Total debt | 5,837,122 |  |  | 5,765,416 |
Less: Current portion | 30,061 |  |  | 8,912 |
Total long-term debt | $ | 5,807,061 |  |  | $ | 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. During the three months ended June 30, 2020, iHeartCommunications voluntarily repaid $115.0 million principal amount drawn under the ABL Facility. As of June 30, 2020, the ABL Facility had a borrowing base of $289.4 million and $235.0 million of outstanding borrowings and $41.2 million of outstanding letters of credit, resulting in $13.2 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. (4)On July 16, 2020, iHeartCommunications issued $450.0 million of incremental term loans under the Amendment No. 2, resulting in net proceeds of $425.8 million, after original issue discount and debt issuance costs. A portion of the proceeds from the issuance was used to repay the remaining balance outstanding on the Company's ABL Facility of $235.0 million, with the remaining $190.6 million of the proceeds available for general corporate purposes.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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