Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT (Tables)

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LONG-TERM DEBT (Tables)
9 Months Ended
Sep. 30, 2019
Long-term Debt, Unclassified [Abstract]  
Schedule of long-term debt
Long-term debt consisted of the following items as of September 30, 2019 and December 31, 2018:
 
September 30, 2019
 
December 31, 2018
 
(In thousands)
Revolving credit agreement(1) 
$
135,000

 
$
45,000

6.625% senior unsecured notes due 2023
340,000

 
350,000

6.000% senior unsecured notes due 2024
630,796

 
650,000

6.375% senior unsecured notes due 2025
577,268

 
600,000

6.375% senior unsecured notes due 2026
397,529

 
450,000

Net unamortized debt issuance costs(2)
(26,052
)
 
(30,733
)
Construction loan
22,650

 
23,149

Less: current maturities of long term debt
(622
)
 
(651
)
Debt reflected as long term
$
2,076,569

 
$
2,086,765


(1) The Company has entered into a senior secured revolving credit facility, as amended (the "revolving credit facility"), with The Bank of Nova Scotia, as the lead arranger and administrative agent and other lenders. On June 3, 2019, the Company further amended its revolving credit facility to, among other things, allow the Company to designate certain of its subsidiaries
as unrestricted subsidiaries and to include LIBOR replacement provisions. Additionally, the borrowing base was reaffirmed at $1.4 billion, and the Company’s elected commitment amount remained at $1.0 billion.
As of September 30, 2019, $135.0 million was outstanding under the revolving credit facility and the total availability for future borrowings under this facility, after giving effect to an aggregate of $248.6 million letters of credit, was $616.4 million. The Company’s wholly owned subsidiaries have guaranteed the obligations of the Company under the revolving credit facility.
At September 30, 2019, amounts borrowed under the revolving credit facility bore interest at a weighted average rate of 3.52%.
The Company was in compliance with its financial covenants under the revolving credit facility at September 30, 2019.
(2) Loan issuance costs related to the 6.625% Senior Notes due 2023 (the "2023 Notes"), the 6.000% Senior Notes due 2024 (the "2024 Notes"), the 6.375% Senior Notes due 2025 (the "2025 Notes") and the 6.375% Senior Notes due 2026 (the "2026 Notes") (collectively the “Notes”) have been presented as a reduction to the principal amount of the Notes. At September 30, 2019, total unamortized debt issuance costs were $3.6 million for the 2023 Notes, $7.5 million for the 2024 Notes, $10.8 million for the 2025 Notes and $4.0 million for the 2026 Notes. In addition, loan commitment fee costs for the Company's construction loan agreement were $0.1 million at September 30, 2019.