| Schedule of Total Outstanding Debt |
The table below summarizes the total outstanding debt of the Company (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
|
December 31, 2023 |
|
|
|
Rate |
|
|
Amount |
|
|
Rate |
|
|
Amount |
|
First Lien - payable to lenders at SOFR plus applicable margin |
|
|
— |
|
|
$ |
— |
|
|
8.72% |
|
|
$ |
1,719,360 |
|
First Lien Incremental Term Loans Tranches B-2 and B-3 - payable to
lenders at SOFR plus applicable margin |
|
|
— |
|
|
|
— |
|
|
8.97% |
|
|
|
1,189,975 |
|
First Lien Incremental Term Loan Tranche B-5 - payable to lenders at
SOFR plus applicable margin |
|
|
6.86 |
% |
|
|
2,546,787 |
|
|
|
— |
|
|
|
— |
|
Second Lien - payable to lenders at SOFR plus applicable margin |
|
|
— |
|
|
|
— |
|
|
13.97% |
|
|
|
450,000 |
|
Revolving Credit Loans - payable to lenders at SOFR plus applicable
margin |
|
|
7.61 |
% |
|
|
— |
|
|
9.59% |
|
|
|
50,000 |
|
Swingline Loans and Base Rate Loans - payable to lenders at
ABR plus applicable margin |
|
|
9.75 |
% |
|
|
63,300 |
|
|
11.75% |
|
|
|
700 |
|
Amortizing Notes (1) |
|
|
|
|
|
53,804 |
|
|
|
|
|
|
— |
|
Notes payable and other |
|
|
|
|
|
19,428 |
|
|
|
|
|
|
4,356 |
|
Total debt |
|
|
|
|
|
2,683,319 |
|
|
|
|
|
|
3,414,391 |
|
Less: debt issuance costs, net |
|
|
|
|
|
72,736 |
|
|
|
|
|
|
50,177 |
|
Total debt, net of debt issuance costs |
|
|
|
|
|
2,610,583 |
|
|
|
|
|
|
3,364,214 |
|
Less: current portion of long-term debt |
|
|
|
|
|
48,725 |
|
|
|
|
|
|
32,273 |
|
Total long-term debt, net of current portion |
|
|
|
|
$ |
2,561,858 |
|
|
|
|
|
$ |
3,331,941 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) See Note 7 for discussion of Amortizing Notes. |
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|
|
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|
|
|
|
|
|
|
| Schedule of Maturities of Long-Term Debt |
As of December 31, 2024, maturities of long-term debt for the next five years and thereafter are as follows (in thousands):
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|
|
|
|
2025 |
|
$ |
48,725 |
|
2026 |
|
|
48,462 |
|
2027 |
|
|
37,562 |
|
2028 |
|
|
103,848 |
|
2029 |
|
|
25,548 |
|
Thereafter |
|
|
2,419,174 |
|
|
|
$ |
2,683,319 |
|
|
| Schedule of Interest Rate Swap with Notional Value |
As of December 31, 2024, we have the following cash flow hedge agreements with a total notional value of $2.0 billion:
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|
|
|
|
|
|
|
|
|
Financial Institution |
|
Effective Dates |
|
Floating Rate Debt |
|
|
Fixed Rates |
|
Credit Suisse |
|
September 30, 2022 through September 30, 2025 |
|
$ |
500,000,000 |
|
|
|
3.4165 |
% |
Morgan Stanley |
|
September 30, 2022 through September 30, 2025 |
|
|
1,050,000,000 |
|
|
|
3.4200 |
% |
Credit Agricole Corporate and
Investment Bank |
|
September 30, 2022 through September 30, 2025 |
|
|
450,000,000 |
|
|
|
3.5241 |
% |
|