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LONG-TERM DEBT (Tables)
6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt

Long-term debt consisted of the following (in thousands, except interest rate):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate As of

 

 

 

As of

 

 

 

June 30,
2022

 

December 31,
2021

 

Maturities Through

 

June 30,
2022

 

 

 

December 31,
2021

 

First lien term loan facility

 

5.2%

 

4.0%

 

2026

 

$

201,723

 

 

 

$

202,457

 

Second lien term loan facility

 

8.7%

 

7.6%

 

2027

 

 

25,000

 

 

 

 

25,000

 

First lien revolving facility

 

5.0%

 

4.0%

 

2024

 

 

7,000

 

 

 

 

7,000

 

Total debt

 

 

 

 

 

 

 

$

233,723

 

 

 

$

234,457

 

Less: unamortized debt issuance cost

 

 

 

 

 

 

 

 

(3,484

)

 

 

 

(3,998

)

Total debt, net of unamortized debt issuance cost

 

 

 

 

 

 

 

$

230,239

 

 

 

$

230,459

 

Less: current portion of long-term debt

 

 

 

 

 

 

 

 

(2,085

)

 

 

 

(1,776

)

Long-term debt, net

 

 

 

 

 

 

 

$

228,154

 

 

 

$

228,683

 

Schedule of Principal Repayments on Long-term Debt The following are scheduled principal repayments on long-term debt as of June 30, 2022 for each of the next five years (in thousands):

Year

 

Amount

 

2022

 

$

1,042

 

2023

 

 

2,085

 

2024

 

 

9,085

 

2025

 

 

2,085

 

2026

 

 

2,085

 

Thereafter

 

 

217,341

 

Total

 

$

233,723

 

Schedule of Borrowing Capacity and Amount Borrowed

As of June 30, 2022, our available borrowing capacity under the First Lien Revolving Facility was $13 million. Utilization of the borrowing capacity was as follows (in thousands):

 

 

 

Borrowing Capacity

 

 

Amount Borrowed

 

First Lien Revolving Facility

 

$

20,000

 

 

$

7,000