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Borrowings (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Borrowings consist of the following:



(dollars in thousands)		Interest Rate		Maturity Date		June 30, 2018				December 31, 2017
Borrowings under ABL Facility		floating	⁽²⁾	December 7, 2022 ⁽¹⁾		$	22,500			$	—
Term Loan B		floating	⁽³⁾	April 9, 2021		382,400				384,600
AICEP Loan		0.00%		July 30, 2018		1,685				3,085
Total borrowings						406,585				387,685
Less — unamortized discount and finance fees						2,874				3,295
Total borrowings — net						403,711				384,390
Less — long term debt due within one year						6,085				7,485
Total long-term portion of borrowings — net						$	397,626			$	376,905

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⁽¹⁾	Maturity date will be January 9, 2021, if Term Loan B is not refinanced by this date.


⁽²⁾	The interest rate for the ABL Facility is comprised of several different borrowings at various rates. The weighted average rate of all ABL Facility borrowings was 3.65 percent at June 30, 2018.


⁽³⁾	We have entered into an interest rate swap that effectively fixes a series of our future interest payments on a portion of the Term Loan B debt. See interest rate swap in note 8 for additional details. The Term Loan B floating interest rate was 5.05 percent at June 30, 2018.