	Successor
	As of December 31, 2018			As of December 31, 2019
	(In thousands)
7½% Senior Notes due 2025:
Principal		—			625,000
Discount, net of amortization		—			(169,232	)
9¾% Senior Notes due 2026:
Principal		850,000			850,000
Discount, net of amortization		(32,934	)		(29,943	)
Bank Credit Facility:
Principal		450,000			1,250,000
Debt issuance costs, net of amortization		(22,703	)		(25,693	)
	$	1,244,363		$	2,500,132

The discounts on the senior notes are being amortized over the lives of the senior notes using the effective interest rate method. Issuance costs are amortized over the lives of the senior notes on a straight-line basis which approximates the amortization that would be calculated using an effective interest rate method.

The following table summarizes Comstock's principal amount of debt as of December 31, 2019 by year of maturity:

	2020		2021		2022		2023		2024		Thereafter		Total
	(In thousands)
Bank credit facility	$	—	$	—	$	—	$	—	$	1,250,000	$	—	$	1,250,000
7½% Senior Notes Due 2025		—		—		—		—		—		625,000		625,000
9¾% Senior Notes Due 2026		—		—		—		—		—		850,000		850,000
	$	—	$	—	$	—	$	—	$	1,250,000	$	1,475,000	$	2,725,000

In connection with the Jones Contribution, the Company completed a series of refinancing transactions to retire all of its then-outstanding senior secured and unsecured notes. On August 3, 2018, the Company issued $850.0 million of new senior notes for proceeds of $815.9 million. Interest on the notes is payable on February 15 and August 15 at an annual rate of 9¾% and the notes mature on August 15, 2026. As a part of the Covey Park Acquisition, the Company assumed $625.0 million of senior notes. The fair market value of the notes at the closing was $446.6 million. Interest on the assumed notes is payable on May 15 and November 15 at an annual rate of 7½%. The notes mature on May 15, 2025.

On August 14, 2018, the Company entered into a bank credit facility with Bank of Montreal, as administrative agent, and the participating banks. The bank credit facility was subject to a borrowing base of $700.0 million which was re-determined on a semi-annual basis and upon the occurrence of certain other events. Concurrent with the closing of the Covey Park Acquisition, the bank credit facility was amended and restated to provide for a $1,575.0 million borrowing base which will be re-determined on a semi-annual basis and upon the occurrence of certain other events. The maturity date was extended to July 16, 2024. The initial committed borrowing base was set at $1,500.0 million, of which $1,250.0 million of borrowings were outstanding as of December 31, 2019. The borrowing base was reaffirmed in November 2019 during its scheduled redetermination. Borrowings under the bank credit facility are secured by substantially all of the assets of the Company and its subsidiaries and bears interest at the Company's option, at either LIBOR plus 1.75% to 2.75% or a base rate plus 0.75% to 1.75%, in each case depending on the utilization of the borrowing base. The Company also pays a commitment fee of 0.375% to 0.5% on the unused borrowing base. The bank credit facility places certain restrictions upon the Company's and its restricted subsidiaries' ability to, among other things, incur additional indebtedness, pay cash dividends, repurchase common stock, make certain loans, investments and divestitures and redeem the senior notes. The only financial covenants are the maintenance of a leverage ratio of less than 4.0 to 1.0 and an adjusted current ratio of at least 1.0 to 1.0. The financial covenants are determined starting with the financial results for the three months ended December 31, 2019. The Company was in compliance with the covenants as of December 31, 2019.