Debt (Tables)

6 Months Ended

Jun. 30, 2020

Long-term debt consisted of the following:



	June 30, 2020			December 31, 2019
Term Loan B (variable rates) due June 2027	$	200.0		$	—
2021 Senior Notes (5.25% fixed rate) due May 2021	175.0			175.0
Global Revolving Credit Facility (variable rates) due December 2023	10.1			21.6
German loan agreement (2.45% fixed rate) due in quarterly installments ending September 2022	2.9			3.5
German loan agreement (1.45% fixed rate) due in quarterly installments ending March 2023	3.0			3.7
Debt discounts and deferred financing costs	(9.6		)	(3.0		)
Total debt	381.4			200.8
Less: Debt payable within one year	179.7			2.6
Long-term debt	$	201.7		$	198.2

Schedule of Debt

The Company is required to make mandatory prepayments of the Term Loan B, commencing with the fiscal year ending December 31, 2021, based on certain secured leverage ratios levels, among other requirements, as per below:



Secured leverage ratio levels		Mandatory prepayments
< 1.50		No prepayments required
1.50 - 2.50		25% of Excess Cash Flow
> 2.50		50% of Excess Cash Flow

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details