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Interest Expense
 6 Months Ended
Jun. 30, 2018
Interest and Debt Expense [Abstract]  
Interest Expense
Interest Expense
The following tables present the components of interest expense: 
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
 
2018
 
2017
 
2018
 
2017
 
(Dollars in thousands)
Interest incurred on debt
$
22,554

 
$
6,217

 
$
35,473

 
$
12,086

Related party Promissory Note interest expense
5,090

 
—

 
5,090

 
—

Senior Note redemption premium
—

 
—

 
4,782

 
—

Accretion of fair value adjustment on Senior Notes
—

 
1,609

 
19,414

 
3,208

Accretion of original issue discount on 2018 Term Loans
268

 
—

 
357

 
—

Amortization of debt issuance costs
755

 
76

 
1,416

 
154

Total interest expense
$
28,667

 
$
7,902

 
$
66,532

 
$
15,448


Interest Rates
The 2018 Credit Agreement had an effective interest rate of 5.59% as of June 30, 2018. The Old Revolving Facility and Old Term Loan Facility had an effective interest rate of 4.57% as of December 31, 2017 and the Senior Notes had a fixed interest rate of 6.375%, both of which were repaid on February 12, 2018 as part of our refinancing (see Note 6 "Debt and Liquidity").
As a result of our February 12, 2018 refinancing, we paid a prepayment premium for the redemption of our Senior Notes totaling $4.8 million. The accretion of the August 15, 2015 fair value adjustment to our Senior Notes totaling $19.4 million included accelerated accretion of $18.7 million for the six months ended June 30, 2018 resulting from the prepayment.