| Schedule of Outstanding Debt |
The following table sets forth the face values of our outstanding debt as of March 31, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Rate | | Maturity | | March 31, 2025 | | December 31, 2024 | | Senior secured credit facilities: | | | | | | | | | 2021 Term Loan B-1 | S(1) + 3.50% | | December 2027 | | $ | 313,850 | | | $ | 314,860 | | | 2021 Term Loan B-2 | S(1) + 3.50% | | December 2027 | | 366,280 | | | 366,280 | | | 2022 Term Loan B-1 | S(1) + 4.25% | | June 2028 | | 382,147 | | | 382,147 | | | 2022 Term Loan B-2 | S(1) + 5.00% | | June 2028 | | 414,482 | | | 414,482 | | | 2024 Term Loan B-1 | S(1) + 6.00% | | November 2029 | | 698,250 | | | 700,000 | | | 2024 Term Loan B-2 | S(1) + 6.00% | | November 2029 | | 74,813 | | | 75,000 | | Senior Secured Term Loan Due 2028 | RR(2) + 1.75%(3) | | December 2028 | | 899,938 | | | 871,611 | | | Securitization facility: | | | | | | | | | AR Facility | S(1) + 4.00%(4) | | March 2027 | | 100,800 | | | 82,200 | | | FILO Facility | S(1) + 8.00% | | March 2027 | | 120,000 | | | 120,000 | | 9.25% senior secured notes due 2025(5) | 9.25% | | April 2025 | | 10,416 | | | 10,416 | | 4.00% senior exchangeable notes due 2025(5) | 4.00% | | April 2025 | | 183,220 | | | 183,220 | | 7.375% senior secured notes due 2025 | 7.375% | | September 2025 | | 23,393 | | | 23,393 | | 7.32% senior exchangeable notes due 2026 | 7.32% | | August 2026 | | 150,000 | | | 150,000 | | 8.625% senior secured notes due 2027 | 8.625% | | June 2027 | | 656,783 | | | 656,783 | | 11.25% senior secured notes due 2027 | 11.25% | | December 2027 | | 45,814 | | | 45,814 | | 10.75% senior secured notes due 2029 | 10.75% | | November 2029 | | 824,714 | | | 824,714 | | | Face value of total debt outstanding | | | | | 5,264,900 | | | 5,220,920 | | | Less current portion of debt outstanding | | | | | (233,007) | | | (230,704) | | | Face value of long-term debt outstanding | | | | | $ | 5,031,893 | | | $ | 4,990,216 | |
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(1) Represents the Secured Overnight Financing Rate ("SOFR"). (2) Represents the Reference Rate as defined below. (3) At our election, if interest is paid in cash the spread is 0.25% per annum, and in the case of interest paid-in-kind the spread is 1.75%. (4) In connection with the issuance of the FILO Facility (as defined below), the drawn fee rate varies based on our leverage ratio. The drawn fee rate ranges from 3.00% to 4.00%, with incremental increases of 0.25% between these levels. (5)Repaid in full on April 15, 2025.
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| Schedule of Exchangeable Debt |
The following table sets forth the carrying value of the Exchangeable Notes as of March 31, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | March 31, 2025 | | December 31, 2024 | | 2025 Exchangeable Notes | 2026 Exchangeable Notes | | 2025 Exchangeable Notes | 2026 Exchangeable Notes | | Principal | $ | 183,220 | | $ | 150,000 | | | $ | 183,220 | | $ | 150,000 | | | | | | | | | Less: Unamortized debt issuance costs | 59 | | 2,818 | | | 414 | | 3,311 | | | Net carrying value | $ | 183,161 | | $ | 147,182 | | | $ | 182,806 | | $ | 146,689 | |
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