LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2023

Long-term debt outstanding for the Company as of March 31, 2023 and December 31, 2022 consisted of the following:


(In thousands)	March 31, 2023		December 31, 2022
Term Loan Facility due 2026	$	1,864,032	$	1,864,032
Incremental Term Loan Facility due 2026	401,220		401,220
Asset-based Revolving Credit Facility due 2027(1)	—		—
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(2)	4,296		4,462
Total consolidated secured debt	4,319,548		4,319,714

8.375% Senior Unsecured Notes due 2027(3)	1,100,366		1,120,366
Other unsecured subsidiary debt	—		52
Original issue discount	(9,828)		(10,569)
Long-term debt fees	(14,629)		(15,396)
Total debt	5,395,457		5,414,167
Less: Current portion	525		664
Total long-term debt	$	5,394,932	$	5,413,503

(1)As of March 31, 2023, the ABL Facility had a borrowing base of $438.3 million, no outstanding borrowings and $25.0 million of outstanding letters of credit, resulting in $413.3 million of borrowing base availability.

(2)Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2024 through 2045.

(3)During the three months ended March 31, 2023, we repurchased $20.0 million aggregate principal amount of iHeartCommunications Inc.'s 8.375% Senior Unsecured Notes due 2027 for $15.4 million in cash, excluding accrued interest, via open market transactions. The repurchased notes were subsequently cancelled and retired, resulting in a gain on extinguishment of debt of $4.6 million.