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DEBT
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
DEBT DEBT
The following table provides details of the Company's outstanding debt:
Interest RateSeptember 30, 2021December 31, 2020
Date IssuedMaturity DatePrincipal AmountCarrying Amount (a)Principal AmountCarrying Amount (a)
CSC Holdings Senior Notes:
November 15, 2011November 15, 20216.750 %$1,000,000 $998,502 $1,000,000 $989,917 
September 27, 2012September 15, 20225.875 %649,024 630,626 649,024 617,333 
May 23, 2014June 1, 20245.250 %750,000 707,483 750,000 697,041 
October 18, 2018April 1, 20287.500 %4,118 4,113 4,118 4,112 
November 27, 2018April 1, 20287.500 %1,045,882 1,044,540 1,045,882 1,044,424 
July 10 and October 7, 2019January 15, 20305.750 %2,250,000 2,283,702 2,250,000 2,286,097 
June 16, 2020December 1, 20304.625 %2,325,000 2,367,815 2,325,000 2,370,502 
May 13, 2021November 15, 20315.000 %500,000 498,201 — — 
8,524,024  8,534,982 8,024,024 8,009,426 
CSC Holdings Senior Guaranteed Notes:
September 23, 2016April 15, 20275.500 %1,310,000 1,306,365 1,310,000 1,305,955 
January 29, 2018February 1, 20285.375 %1,000,000 994,064 1,000,000 993,490 
November 27, 2018May 15, 20265.500 %— — 1,498,806 1,487,644 
January 24, 2019February 1, 20296.500 %1,750,000 1,747,442 1,750,000 1,747,245 
June 16, 2020December 1, 20304.125 %1,100,000 1,095,572 1,100,000 1,095,283 
August 17, 2020February 15, 20313.375 %1,000,000 996,899 1,000,000 996,692 
May 13, 2021November 15, 20314.500 %1,500,000 1,494,604 — — 
7,660,000 7,634,946 7,658,806 7,626,309 
CSC Holdings Restricted Group Credit Facility:
Revolving Credit FacilityJanuary 31, 2024 (c)2.334 %(b)150,000 143,141 625,000 616,027 
Term Loan BJuly 17, 20252.334 %2,872,500 2,863,325 2,895,000 2,884,065 
Incremental Term Loan B-3January 15, 20262.334 %1,243,125 1,239,366 1,252,688 1,248,293 
Incremental Term Loan B-5April 15, 20272.584 %2,955,000 2,936,547 2,977,500 2,956,807 
7,220,625 7,182,379 7,750,188 7,705,192 
Lightpath Senior Notes:
September 29, 2020September 15, 20285.625 %415,000 406,865 415,000 406,176 
Lightpath Senior Secured Notes:
September 29, 2020September 15, 20273.875 %450,000 441,419 450,000 440,487 
Lightpath Term LoanNovember 30, 20273.750 %595,500 580,033 600,000 582,808 
Lightpath Revolving Credit Facility(d)— — — — 
1,460,500 1,428,317 1,465,000 1,429,471 
Collateralized indebtedness (see Note 11)1,759,017 1,697,235 1,699,566 1,617,506 
Finance lease obligations (see Note 8)207,088 207,088 159,637 159,637 
Notes payable and supply chain financing (e)86,616 86,616 183,690 174,801 
26,917,870 26,771,563 26,940,911 26,722,342 
Less: current portion of credit facility debt(78,750)(78,750)(78,750)(78,750)
Less: current portion of senior notes(1,649,024)(1,629,128)(1,000,000)(989,917)
Less: current portion of finance lease obligations(99,334)(99,334)(63,454)(63,454)
Less: current portion of notes payable and supply chain financing(82,518)(82,518)(113,592)(113,592)
(1,909,626)(1,889,730)(1,255,796)(1,245,713)
Long-term debt$25,008,244 $24,881,833 $25,685,115 $25,476,629 

(a)The carrying amount is net of the unamortized deferred financing costs and/or discounts/premiums and with respect to certain notes, a fair value adjustment resulting from the acquisitions of Cequel Corporation and Cablevision Systems Corporation.
(b)At September 30, 2021, $139,465 of the revolving credit facility was restricted for certain letters of credit issued on behalf of the Company and $2,185,535 of the facility was undrawn and available, subject to covenant limitations.
(c)The revolving credit facility of an aggregate principal amount of $2,475,000 is priced at LIBOR plus 2.25%. In March 2021, a lender under the revolving credit facility extended the maturity date and reduced the interest rate on its aggregate principal amount of $200,000 which had an original maturity date of November 2021 and was priced at LIBOR plus 3.25%.
(d)There were no borrowings outstanding under the Lightpath Revolving Credit Facility which provides for commitments in an aggregate principal amount of $100,000. Borrowings bear interest at a rate per annum equal to the adjusted LIBOR rate or the alternate base rate, as applicable, plus the applicable margin, where the applicable margin is (i) with respect to any alternate base rate loan, 2.25% per annum and (ii) with respect to any eurodollar loan, 3.25% per annum.
(e)Includes $75,125 related to supply chain financing agreements that are required to be repaid within one year from the date of the respective agreement. The decrease in the principal amount at September 30, 2021 includes a $59,451 reclassification to collateralized indebtedness in connection with the maturity of a monetization contract related to the synthetic monetization closeout transaction in November 2019.
In May 2021, CSC Holdings issued $1,500,000 in aggregate principal amount of senior guaranteed notes that bear interest at a rate of 4.500% and mature on November 15, 2031 and $500,000 in aggregate principal amount of senior notes that bear interest at a rate of 5.000% which also mature on November 15, 2031. The net proceeds from the sale of these notes were used to early redeem the $1,498,806 aggregate principal amount of CSC Holdings' 5.500% senior guaranteed notes due May 15, 2026, plus pay accrued interest and the associated premium related to the early redemption of these notes. The remaining proceeds were used for general corporate purposes, including repayment of borrowings under the CSC Holdings revolving credit facility and share repurchases. In connection with the early redemption, the Company recognized a loss on the extinguishment of debt aggregating $51,712, reflecting the early redemption premium and the write-off of unamortized deferred financing costs related to these notes.
For financing purposes, the Company has two debt silos: CSC Holdings and Lightpath. The CSC Holdings silo is structured as a restricted group (the "Restricted Group") and an unrestricted group, which includes certain designated subsidiaries and investments (the "Unrestricted Group"). The Restricted Group is comprised of CSC Holdings and substantially all of its wholly-owned operating subsidiaries excluding Cablevision Lightpath LLC ("Lightpath"), a 50.01% owned subsidiary of the Company, which became an unrestricted subsidiary in September 2020. These Restricted Group subsidiaries are subject to the covenants and restrictions of the credit facility and indentures governing the notes issued by CSC Holdings. The Lightpath silo includes all of its operating subsidiaries which are subject to the covenants and restrictions of the credit facility and indentures governing the notes issued by Lightpath.
Both CSC Holdings and Lightpath's credit facilities agreements contain certain customary representations and warranties, affirmative covenants and events of default (including, among others, an event of default upon a change of control). If an event of default occurs, the lenders under the credit facilities will be entitled to take various actions, including the acceleration of amounts due under the credit facilities and all actions permitted to be taken by a secured creditor.
As of September 30, 2021, CSC Holdings and Cablevision Lightpath were in compliance with applicable financial covenants under their respective credit facilities and with applicable financial covenants under each respective indenture by which the senior guaranteed notes, senior secured notes and senior notes were issued.
Summary of Debt Maturities
The future maturities of debt payable by the Company under its various debt obligations outstanding as of September 30, 2021, including notes payable and collateralized indebtedness (see Note 11), but excluding finance lease obligations (see Note 8), are as follows:
2021$1,034,339 
2022795,983 
20231,841,383 
2024978,889 
20252,823,750 
Thereafter19,236,438