| Schedule of Long-term Debt Instruments |
The Company had the following debt outstanding as of June 30, 2025 and December 31, 2024:
| | | | | | | | | | | | | | | | | | | | Interest rate as of | Principal amount | | Maturity Date | June 30,
2025 | December 31,
2024 | June 30,
2025 | December 31,
2024 | | | | | (in thousands) | | Senior Secured Term Loan | July 2028 | 6.296 | % | 6.329 | % | $ | 931,569 | | $ | 946,450 | | Senior Secured Notes (the "2026 Notes") | July 2026 | 2.875 | % | 2.875 | % | 500,000 | | 500,000 | | | | | | | | | Senior Secured Notes (the "2027 Notes")* | May 2027 | 5.809 | % | 5.809 | % | 750,000 | | 750,000 | | | Senior Secured Notes (the "2029 Notes")* | May 2029 | 5.849 | % | 5.849 | % | 750,000 | | 750,000 | | | Senior Secured Notes (the "2034 Notes")* | May 2034 | 6.000 | % | 6.000 | % | 500,000 | | 500,000 | | | Total debt | | | | 3,431,569 | | 3,446,450 | | | Less current portion of debt | | | | (29,762) | | (29,762) | | | Total long-term debt | | | | 3,401,807 | | 3,416,688 | | Less debt issuance costs and debt discount | | | | (17,319) | | (20,290) | | | Total long-term debt, net | | | | $ | 3,384,488 | | $ | 3,396,398 | |
*Issued May 8, 2024 During the quarter ended June 30, 2025, the Company drew down $nil (December 31, 2024: $318.0 million) of the senior secured revolving loan facility and repaid $nil (year ended December 31, 2024: $373.0 million) as shown below. As at June 30, 2025, $nil (year ended December 31, 2024: $nil) was drawn under the senior secured revolving loan facility. | | | | | | | | | | | | | Drawdown | Repayment | Closing Balance | | (in thousands) | | Balance at January 1, 2024 | | | $ | 55,000 | | | Quarter 1, 2024 | $ | 50,000 | | $ | (55,000) | | $ | 50,000 | | | Quarter 2, 2024 | 143,000 | | (193,000) | | — | | | Quarter 3, 2024 | 50,000 | | (50,000) | | — | | | Quarter 4, 2024 | 75,000 | | (75,000) | | — | | | Total drawdown / (repayments) in 2024 | 318,000 | | (373,000) | | | | Quarter 1, 2025 | 50,000 | | (50,000) | | — | | | Quarter 2, 2025 | — | | — | | — | | | Total drawdown / (repayments) in 2025 | $ | 50,000 | | $ | (50,000) | | |
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| Schedule of Contractual Maturities of Debt |
As of June 30, 2025, the contractual maturities of the Company's debt obligations were as follows:
| | | | | | | | | | | | | | | | Contractual maturities of debt | | (in thousands) | | 2025 (remaining) | | | | $ | 14,881 | | | 2026 | | | | 529,762 | | | 2027 | | | | 779,762 | | | 2028 | | | | 857,164 | | | 2029 and thereafter | | | | 1,250,000 | | | Total | | | | $ | 3,431,569 | | | | | | | | | | | | | | | | |
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| Schedule of Principal Payments on Debt Instrument |
Principal repayments on the senior secured term loan, comprising mandatory and voluntary repayments, during the six months ended June 30, 2025 and year ended December 31, 2024 were as follows:
| | | | | | | | | | Principal repayments | (in thousands) | | Quarter 1, 2024 | | $ | (275,000) | | | Quarter 2, 2024 | | (2,014,882) | | | Quarter 3, 2024 | | (7,441) | | | Quarter 4, 2024 | | (7,440) | | | Total repayments in 2024 | | (2,304,763) | | | Quarter 1, 2025 | | (7,440) | | | Quarter 2, 2025 | | (7,441) | | | | | | Total repayments in 2025 | | $ | (14,881) | |
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