| Long-Term Debt |
As of June 30, 2025 and December 31, 2024, our long-term debt was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
June 30,
2025 |
|
|
December 31,
2024 |
|
2025 Credit Agreement: |
|
|
|
|
|
|
$600 million revolving loan facility, due March 2030, interest at adjusted
SOFR plus applicable margin (combined rate of 5.793% at June 30, 2025) |
|
$ |
125,000 |
|
|
$ |
- |
|
Less – deferred financing costs |
|
|
(2,959 |
) |
|
|
- |
|
2025 Term Loan, net of unamortized discounts |
|
|
122,041 |
|
|
|
- |
|
2023 Convertible Notes: |
|
|
|
|
|
|
2023 Convertible Notes – senior unsecured convertible notes, due
September 2028, cash interest at 3.875% |
|
|
425,000 |
|
|
|
425,000 |
|
Less – deferred financing costs |
|
|
(9,274 |
) |
|
|
(10,618 |
) |
2023 Convertible Notes, net of unamortized discounts |
|
|
415,726 |
|
|
|
414,382 |
|
2021 Credit Agreement: |
|
|
|
|
|
|
2021 Term Loan, due September 2026, interest at adjusted SOFR plus
applicable margin (combined rate of 5.804% at December 31, 2024) |
|
|
- |
|
|
|
125,625 |
|
Less – deferred financing costs |
|
|
- |
|
|
|
(1,510 |
) |
2021 Term Loan, net of unamortized discounts |
|
|
- |
|
|
|
124,115 |
|
$450 million revolving loan facility, due September 2026, interest at adjusted
SOFR plus applicable margin |
|
|
- |
|
|
|
- |
|
Total debt, net of unamortized discounts |
|
|
537,767 |
|
|
|
538,497 |
|
Current portion of long-term debt |
|
|
- |
|
|
|
(7,500 |
) |
Long-term debt, net of unamortized discounts |
|
$ |
537,767 |
|
|
$ |
530,997 |
|
|