Anuvu Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Financing Arrangements (Tables)

Financing Arrangements (Tables)

9 Months Ended

Sep. 30, 2019

A summary of our borrowings as of September 30, 2019 and December 31, 2018 is set forth below (in thousands):



	September 30, 2019			December 31, 2018
Senior secured term loan facility, due January 2023⁽⁺⁾	$	507,393		$	478,125
Senior secured revolving credit facility, due January 2022⁽⁺⁾⁽¹⁾	21,015			54,015
Convertible senior notes due 2035⁽²⁾	82,500			82,500
Second Lien Notes, due June 2023⁽³⁾	178,034			158,450
Other debts⁽⁴⁾	26,792			1,707
Unamortized bond discounts, fair value adjustments and issue costs, net	(62,884		)	(65,186		)
Total carrying value of debt	752,850			709,611
Less: current portion, net	(16,533		)	(22,673		)
Total non-current	$	736,317		$	686,938

⁽⁺⁾This facility is a component of the 2017 Credit Agreement (as defined below).

⁽¹⁾As of September 30, 2019, the available balance under our $85.0 million revolving credit facility is $58.9 million (net of outstanding letters of credit). The 2017 Credit Agreement provides for the issuance of letters of credit in the amount equal to the lesser of $15.0 million and the aggregate amount of the then-remaining revolving loan commitment. As of September 30, 2019, we had outstanding letters of credit of $5.1 million under the 2017 Credit Agreement. We expect to draw on the loans under our revolving credit facility (the “2017 Revolving Loans”) from time to time to fund our working capital needs and for other general corporate purposes.

⁽²⁾The principal amount outstanding of the 2.75% convertible senior notes due 2035 (the “Convertible Notes”) as set forth in the foregoing table was $82.5 million as of September 30, 2019. The carrying amount, net of debt issuance costs and associated discount, was $70.9 million and $70.4 million as of September 30, 2019 and December 31, 2018, respectively.

⁽³⁾ The principal amount outstanding of the second lien notes due June 30, 2023 (the “Second Lien Notes”) as set forth in the foregoing table was $178.0 million as of September 30, 2019. The carrying amount, net of debt issuance costs and associated discount, was $149.1 million and $128.2 million as of September 30, 2019 and December 31, 2018, respectively, and it includes approximately $28.0 million of PIK interest converted to principal since issuance. The value allocated to the attached penny warrants and market warrants for financial reporting purposes was $14.9 million and $9.3 million, respectively. These qualify for classification in stockholders’ equity and are included in the condensed consolidated balance sheets within “Additional paid-in capital”.

⁽⁴⁾ As of September 30, 2019, Other debts primarily consisted of (i) $6.2 million remaining financed amount for transponder purchases (payable in staggered dates until April 2020); and (ii) $18.9 million of finance lease liability relating to an assessed right-of-use over a satellite bandwidth capacity (refer to Note 3. Leases for further details).

Schedule of Maturities of Long-term Debt

The aggregate contractual maturities of all borrowings subsequent to September 30, 2019, factoring in the amendment to its term loan, are as follows (in thousands):



Years Ending December 31,	Amount
2019 (remaining three months)	$	7,056
2020	30,075
2021	27,172
2022	48,187
2023	620,353
Thereafter	82,891
Total	$	815,734