Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2016

Long-term debt as of June 30, 2016 and December 31, 2015 consists of the following:



	As of June 30,		As of December 31,
(In thousands, except rates)	2016		2015		Interest Type	Current Interest Rate (%)⁽¹⁾		Financing Type
Corporate level long-term debt:
Revolving Credit Facility	$	135,000	$	135,000	Variable	3.9%		Revolving line of credit
Senior Notes due 2022	752,445		791,826		Fixed	9.8%		Term debt
Project level long-term debt:
Permanent financing	346,281		368,935		Blended	12.1%	⁽²⁾	Term debt
Total long-term debt	1,233,726		1,295,761
Less: deferred financing costs, net⁽³⁾	21,419		23,610
Less: current portion of long-term debt ⁽⁴⁾	324,225		319,498
Consolidated long-term debt, less current portion	$	888,082	$	952,653


(1)	The weighted average effective interest rate as of June 30, 2016.


(2)	As of June 30, 2016, 11.3% of this balance had fixed interest rate debt and the remaining 88.7% had variable interest rate debt, of which a portion is hedged with interest rate swaps.


(3)	Total net debt reflects the reclassification of deferred financing costs to reduce long-term debt as further described in Note 1 - Nature of Operations and Basis of Presentation.


(4)	Approximately $319.9 million and $319.0 million have been classified as current due to non-compliance with certain debt covenants as of June 30, 2016 and December 31, 2015, respectively.

Schedule of Maturities of Long-term Debt

The aggregate amounts of contractual payments of long-term debt due after June 30, 2016, excluding amortization of debt discounts and premiums, as stated in the financing agreements, are as follows:



	Maturities ⁽¹⁾
(In thousands)	Within 1 Year		Year 1 through Year 2		Year 2 through Year 3		Year 3 through Year 4		Year 4 through Year 5		Thereafter		Total
Corporate	$	—	$	—	$	—	$	135,000	$	—	$	752,445	$	887,445
Project level	$	12,617	$	8,145	$	10,176	$	14,613	$	17,221	$	283,509	$	346,281
Total debt	$	12,617	$	8,145	$	10,176	$	149,613	$	17,221	$	1,035,954	$	1,233,726