Note 7: Long-Term Debt

Our long-term debt consists of the following:

	March 31,			December 31,
	2017			2016
	(In Thousands)
Working Capital Revolver Loan, with a current interest rate of 4.5% (A)	$	—		$	—
Senior Secured Notes due 2019 (B)		375,000			375,000
Secured Promissory Note due 2017, with a current interest rate of 4.05% (C)		4,723			6,566
Secured Promissory Note due 2019, with a current interest rate of 5.73% (D)		8,917			9,167
Secured Promissory Note due 2021, with a current interest rate of 5.25% (E)		13,532			14,272
Secured Promissory Note due 2023, with a current interest rate of 5.04% (F)		18,150			18,645
Other, with a current weighted-average interest rate of 4.55%, most of which is secured primarily by machinery and equipment		3,833			4,185
Unamortized discount and debt issuance costs		(6,883	)		(7,615	)
		417,272			420,220
Less current portion of long-term debt		11,752			13,745
Long-term debt due after one year, net	$	405,520		$	406,475

(A) Our revolving credit facility (the “Working Capital Revolver Loan”), as amended in January 2017, provides advances up to $50 million (but provides an ability to expand the commitment an additional $25 million), based on specific percentages of eligible accounts receivable and inventories and up to $10 million of letters of credit, the outstanding amount of which reduces the available for borrowing under the Working Capital Revolver Loan. At March 31, 2017, our available borrowings under our Working Capital Revolver Loan were approximately $44.9 million, based on our eligible collateral, less outstanding letters of credit.

The maturity date of the Working Capital Revolver Loan is January 17, 2022, with a springing earlier maturity date (the “Springing Maturity Date”) that is 90 days prior to the maturity date of our Senior Secured Notes, to the extent the Senior Secured Notes are not refinanced or repaid prior to the Springing Maturity Date.

The Working Capital Revolver Loan also provides for a springing financial covenant (the “Financial Covenant”), which requires that, if the borrowing availability is less than or equal to the greater of 10.0% of the total revolver commitments and $5 million, then the borrowers must maintain (a) with respect to relevant periods ending on or prior to September 30, 2017, a minimum EBITDA in the amount set forth in the Working Capital Revolver Loan Amendment and (b) with respect to relevant periods ending after September 30, 2017, a minimum fixed charge coverage ratio of not less than 1.00 to 1.00. The Financial Covenant, if triggered, is tested monthly.

(B) The Senior Secured Notes mature on August 1, 2019. Interest is to be paid semiannually on February 1st and August 1st. In September 2016, we entered into the First Supplemental Indenture to the original Indenture (the “Original 7.75% Indenture”) that, among other things, increased the annual interest rate to 8.5% from 7.75%, effective August 1, 2016.

(C) Zena Energy L.L.C. (“Zena”), one of our subsidiaries, is party to a secured promissory note due December 1, 2017. Principal and interest are payable in monthly installments. Interest is based on the LIBOR rate plus 300 basis points.

(D) El Dorado Chemical Company (“EDC”), one of our subsidiaries, is party to a secured promissory note due June 29, 2019. Principal and interest are payable in equal monthly installments with a final balloon payment of approximately $6.7 million.

(E) El Dorado Chemical Company (“EDC”), one of our subsidiaries, is party to a secured promissory note due March 26, 2021. Principal and interest are payable in monthly installments.

Note 7: Long-Term Debt (continued)

(F) El Dorado Ammonia L.L.C. (“EDA”), one of our subsidiaries, is party to a secured promissory note due in May 2023. Principal and interest are payable in equal monthly installments with a final balloon payment of approximately $6.1 million. This promissory note bears interest at a rate that is based on the monthly LIBOR rate plus a base rate.