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Interest Expense
 12 Months Ended
Dec. 31, 2018
Interest and Debt Expense [Abstract]  
Interest Expense
Interest Expense
The following table presents an analysis of interest expense:
 
For the Year Ended December 31
 
2018
 
2017
 
2016
 
(Dollars in thousands)
Interest incurred on debt
$
100,844

 
$
24,060

 
$
20,408

Related Party Promissory Note interest expense
5,090

 
—

 
—

Senior Note redemption premium
4,782

 
—

 
—

Accretion of fair value adjustment on Senior Notes
19,414

 
6,454

 
6,305

Accretion of original issue discount on 2018 Term Loans
1,455

 
—

 
—

Amortization of debt issuance costs
3,476

 
309

 
201

Total interest expense
$
135,061

 
$
30,823

 
$
26,914


Interest rates
The 2018 Credit Agreement had an effective interest rate of 6.02% as of December 31, 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 7 "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 in 2018, included accelerated accretion of $18.7 million resulting from the prepayment. Amortization of debt issuance costs included $0.3 million of accelerated amortization related to the refinancing.