Long-Term Debt

Long-term debt is as follows (in thousands):



	September 30, 2017			December 31, 2016
ABL Facility due 2021⁽¹⁾	$	130,788		$	81,700
4.0% secured notes due 2021 ($50 million outstanding principal amount as of September 30, 2017, and December 31, 2016)	49,841			49,813
8.500% junior priority secured notes due 2022 ($241.0 million outstanding principal amount as of September 30, 2017, and December 31, 2016)	235,505			234,742
6.000% senior priority secured notes due 2019 ($540.0 million outstanding principal amount as of September 30, 2017, and December 31, 2016)	532,936			530,166
6.000% senior unsecured notes due 2024 ($104.5 million outstanding principal amount as of September 30, 2017, and December 31, 2016)	87,208			85,591
11.5% senior notes due 2017 ($0.0 million and $20.5 million outstanding principal amount as of September 30, 2017, and December 31, 2016, respectively)	—			20,371
7% senior exchangeable notes due 2017 ($0.0 million and $5.5 million outstanding principal amount as of September 30, 2017, and December 31, 2016, respectively)	—			5,468
Other debt, including capital leases	22,760			10,815
	1,059,038			1,018,666
Less current maturities	(8,597		)	(31,727		)
Long-term debt	$	1,050,441		$	986,939

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⁽¹⁾The weighted average interest rate outstanding for the Company's asset-based revolving credit facility (the "ABL Facility") was 4.0% and 3.4% as of September 30, 2017, and December 31, 2016, respectively.

The estimated fair value of the Company’s outstanding indebtedness was approximately $806.3 million and $881.7 million as of September 30, 2017, and December 31, 2016, respectively. The fair value was determined by the Company to be Level 2 under the fair value hierarchy, and was based upon a review of observable pricing in secondary markets for each debt instrument.

In the second quarter of 2017, the Company received net proceeds of $7.9 million in connection with a 28 month equipment financing arrangement. No gain or loss was recognized related to this transaction.

In the first quarter of 2017, the Company refinanced its outstanding equipment loan with an outstanding principal balance of $6.3 million. During the third quarter of 2017, the Company received $3.7 million of additional funding under this equipment loan. Interest on the equipment loan now accrues at 7.76% per year and is payable monthly in arrears beginning on May 1, 2017, through October 1, 2020.

As of September 30, 2017, the Company was in compliance with all covenants under its long-term debt agreements.

Extinguishments

In the second quarter of 2017, the Company repurchased in full the remaining $5.5 million of its 7% Notes at par.

In the first quarter of 2017, the Company recorded a loss of less than $0.1 million on early extinguishment of debt related to the repurchase in full of the remaining $20.5 million of its 11.5% senior notes due 2017 (the "11.5% Notes").

In the third quarter of 2016, the Company recorded a gain on early extinguishment of debt of $7.4 million related to the repurchase of $21.0 million of its 7% Notes.

In the second quarter of 2016, the Company recorded a gain on early extinguishment of debt of $46.1 million, related to the exchange offer where by approximately 80% of the Company's 11.5% Notes were exchanged for newly issued 6.000% senior unsecured notes due 2024 (the "6.000% Unsecured Notes"). Additionally, $1.2 million of gain on early extinguishment of debt related to $4.2 million exchanged by affiliated noteholders was recorded as a component of paid-in capital.

In the second quarter of 2016, the Company recorded a gain on early extinguishment of debt of $5.4 million related to the repurchase of $16.5 million of its 7% Notes. Additionally, during the second quarter of 2016, in connection with Amendment No. 4 to the Company's ABL Facility, the Company recorded a loss on early extinguishment of debt of $0.2 million.

In the first quarter of 2016, the Company recorded a gain on early extinguishment of debt of $16.5 million related to the repurchase of $34.5 million of its 7% Notes. Additionally, the Company recorded a gain on early extinguishment of debt of $5.1 million related to the repurchase of $10.0 million of its 11.5% Notes.