Debt

3 Months Ended

Mar. 31, 2021

Total debt consisted of the following:


	Interest rate	March 31, 2021		December 31, 2020
Notes due October 2021	4.875%	$	—	$	152,588
Notes due May 2022	5.375%	72,873		148,792
Notes due April 2023	5.95%	96,667		271,000
Notes due March 2024	4.625%	267,952		374,000
Notes due March 2027	6.875%	400,000		—
Notes due March 2029	7.25%	350,000		—
Notes due January 2037	5.25%	35,841		35,841
Notes due March 2043	6.70%	425,000		425,000
Term loan due March 2026	LIBOR + 1.75%	380,000		380,000
Term loan due January 2025	LIBOR + 5.5%	—		818,125
Term loan due March 2028	LIBOR + 4.0%	450,000		—
Other debt		4,598		4,900
Principal amount		2,482,931		2,610,246
Less: unamortized costs, net		44,074		45,853
Total debt		2,438,857		2,564,393
Less: current portion long-term debt		19,972		216,032
Long-term debt		$	2,418,885	$	2,348,361

During the first quarter of 2021, we issued a $400 million 6.875% unsecured note due March 2027 and a $350 million 7.25% unsecured note due March 2029. We also entered into a new seven-year $450 million secured term loan maturing March 2028.

We redeemed the remaining $153 million balance of the October 2021 notes and, under a tender offer, redeemed an aggregate $356 million of the May 2022 notes, April 2023 notes and March 2024 notes. We also repaid the remaining $818 million balance of our term loan that was scheduled to mature in January 2025.

We also amended our $500 million secured revolving credit facility and our March 2026 secured term loan to extend their maturities from November 2024 to March 2026. The credit agreement that governs the revolving credit facility and term loans contains financial and non-financial covenants. At March 31, 2021, we were in compliance with all covenants and there were no outstanding borrowings under the revolving credit facility.

A $51 million pre-tax loss was incurred on the refinancing of debt.

Interest rates on certain notes are subject to adjustment based on changes in our credit ratings. Due to a credit downgrade in February 2021, the interest rates on the May 2022 notes and the April 2023 notes will increase 0.25% in the second quarter of 2021.

At March 31, 2021, the interest rate of the 2028 Term Loan was 4.1% and the interest rate on the 2026 Term Loan was 1.9%.