Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2018

Debt Instrument [Line Items]

Summary of Long-Term Debt

Our long-term debt consisted of the following (dollars in thousands):

	Interest rate at September 30, 2018	September 30, 2018		December 31, 2017
Senior unsecured notes due 2022	5.625%	$	400,000	$	400,000
Senior unsecured notes due 2023	5.625%	350,000		350,000
Senior unsecured notes due 2025	6.375%	325,000		325,000
Senior unsecured notes due 2026	7.250%	300,000		300,000
SemGroup $1.0 billion corporate revolving credit facility (1)
Alternate base rate borrowings	7.000%	85,000		—
Eurodollar borrowings	4.871%	375,000		131,000
HFOTCO acquisition final payment		—		565,868
HFOTCO term loan B (2)	5.000%	598,500		532,125
HFOTCO tax exempt notes payable due 2050	3.198%	225,000		225,000

HFOTCO $75 million revolving credit facility	—			60,000
Capital leases	—			25
Unamortized premium (discount) and debt issuance costs, net	(33,014		)	(30,398		)
Total long-term debt, net	2,625,486			2,858,620
Less: current portion of long-term debt	6,000			5,525
Noncurrent portion of long-term debt, net	$	2,619,486		$	2,853,095

(1) SemGroup $1.0 billion corporate revolving credit facility matures on March 15, 2021.

(2) HFOTCO term loan B is due in quarterly installments of $1.5 million with a final payment due on June 26, 2025.

We had the following outstanding letters of credit at September 30, 2018 (dollars in thousands):

SemGroup $1.0 billion revolving credit facility	2.75%	$	28,335
Secured bi-lateral (1)	1.75%	$	47,501

(1) Secured bi-lateral letters of credit are external to the SemGroup $1.0 billion revolving credit facility and do not reduce availability for borrowing on the credit facility.