Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt at March 31, 2020 and December 31, 2019 consisted of the following:

	(Thousands of Dollars)
	March 31, 2020			December 31, 2019
2018 Term Loan Facility	$	343,875		$	344,750
2019 ABL Facility	175,000			—
Less: Unamortized debt discount and debt issuance costs	(6,769		)	(7,127		)
Total debt, net of unamortized debt discount and debt issuance costs	512,106			337,623
Less: Current portion	(177,302		)	(2,311		)
Long-term debt, net of unamortized debt discount and debt issuance costs	$	334,804		$	335,312

Schedule of line of credit facilities

Below is a summary of the Company’s credit facilities outstanding as of March 31, 2020:

	(Thousands of Dollars)
	2019 ABL Facility		2018 Term Loan Facility
Original facility size	$	450,000	$	350,000
Outstanding balance	$	175,000	$	343,875
Letters of credit issued	$	32,640	$	—
Available borrowing base commitment	$	101,386	n/a
Interest Rate(1)	LIBOR or base rate plus applicable margin		LIBOR or base rate plus applicable margin
Maturity Date	October 31, 2024		May 25, 2025

⁽¹⁾    London Interbank Offer Rate (“LIBOR”) is subject to a 1.00% floor

Schedule of maturities of long-term debt

Maturities of the 2018 Term Loan Facility for the next five years are presented below:

(Thousands of Dollars)
Year-end December 31,
2020	$	2,625
2021	3,500
2022	3,500
2023	3,500
2024	3,500
	$	16,625