| Schedule of Long-term Debt |
Long-term debt as of June 30, 2026, and December 31, 2025, consisted of the following:
|
Facilities
|
| |
June 30, 2026
| |
| |
December 31, 2025
| |
|
BofA Credit Facility (a)
|
| $ | 55,500 | |
| $ | - | |
|
UBS Credit Facility (b)
|
| | 57,000 | |
| | 71,000 | |
|
2024 Senior Secured Term Loan Facility (c)
|
| | 216,000 | |
| | 240,000 | |
|
2027 Secured Notes (d)
|
| | 153,125 | |
| | 179,375 | |
|
Total credit facilities
|
| $ | 481,625 | |
| $ | 490,375 | |
|
Sale and Leaseback Agreements
|
| | | |
| | | |
| Minsheng Sale and Leaseback Agreements - $178,000 (h) |
| | 159,888 | |
| | 166,788 | |
| CMBFL Sale and Leaseback Agreements - $120,000 (i) |
| | 34,912 | |
| | 37,546 | |
|
Total Sale and Leaseback Agreements
|
| $ | 194,800 | |
| $ | 204,334 | |
|
Total borrowings
|
| $ | 676,425 | |
| $ | 694,709 | |
|
Less: Current portion of long-term debt
|
| | (135,437 | ) |
| | (128,500 | ) |
|
Less: Current portion of Sale and Leaseback Agreements (h, i)
|
| | (19,067 | ) |
| | (19,067 | ) |
|
Less: Deferred financing costs (k)
|
| | (4,661 | ) |
| | (5,567 | ) |
|
Non-current portion of Long-Term Debt
|
| $ | 517,260 | |
| $ | 541,575 | |
|
| Maturities of Long-term Debt |
Maturities of long-term debt for the periods subsequent to June 30, 2026, are as follows:
| |
| |
| |
|
Payment due by period ended
|
| | Amount | |
|
June 30, 2027
|
| $ |
154,504 | |
|
June 30, 2028
|
| |
222,008 | |
|
June 30, 2029
|
| |
54,738 | |
|
June 30, 2030
|
| |
46,738 | |
|
June 30, 2031
|
| |
107,550 | |
|
June 30, 2032 and thereafter
|
| |
90,887 | |
| |
| $ |
676,425 | |
|
| Deferred Financing Costs |
| |
| |
| |
| |
| |
| |
| |
June 30, 2026 | |
| |
December 31, 2025 | |
|
Opening balance
|
| $ |
5,567 | |
| $ |
7,042 | |
|
Expenditure in the period
|
| |
333 | |
| |
2,185 | |
|
Amortization included within interest expense
|
| |
(1,239 | ) |
| |
(3,660 | ) |
|
Closing balance
|
| $ |
4,661 | |
| $ |
5,567 | |
|