Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt

v3.8.0.1
Long-Term Debt
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Long-term Debt
LONG-TERM DEBT
Long-term debt comprised the following:  
 
 
 
 
 
 
 
Rate as of March 31, 2018
 
March 31, 2018
 
December 31, 2017
 Senior secured credit facility, due June 2020, interest at varying rates monthly in arrears
4.31
%
 
$
65,950

 
$
49,986

Variable rate term loan payable in semi-annual installments through February 2021
4.55
%
 
1,220

 
1,220

Variable rate term loan payable in semi-annual installments through June 2024
4.05
%
 
8,295

 
8,295

Variable rate term loan payable in quarterly installments through December 2024
4.95
%
 
8,757

 
8,757

Term loan payable in quarterly installments through March 2021
7.25
%
 
1,917

 
2,218

Term loan payable in monthly installments through June 2028
6.11
%
 
4,393

 
4,551

Variable rate term loan payable in quarterly installments through June 2020
5.31
%
 
32,322

 
32,711

Variable rate term loan payable in quarterly installments through October 2023
4.80
%
 
18,367

 
18,346

Term loan payable in quarterly installments through June 2031
4.95
%
 
4,411

 
4,605

Term loan payable in quarterly installments through February 2034
5.61
%
 
3,044

 
3,128

Variable rate construction loan payable, due June 2018
7.00
%
 
1,696

 
1,721

Term loan payable in quarterly installments through April 2027
4.50
%
 
18,327

 
13,325

Term loan payable in quarterly installments through March 2028
5.00
%
 
4,262

 
4,258

Variable rate term loan payable in quarterly installments through December 2027
4.58
%
 
14,038

 
14,034

Variable rate term loan payable in quarterly installments through August 2022
9.27
%
 
28,500

 

Capital leases
 
 
35,867

 
35,013

 
 
 
$
251,366

 
$
202,168

Less - current maturities
 
 
26,253

 
22,375

Less - deferred financing fees
 
 
6,715

 
6,556

Long-term debt
 
 
$
218,398

 
$
173,237



At March 31, 2018 funds of $22,648 is available for the revolving credit facility. Additionally, the Company was in compliance with all financial and operational covenants.
February 2018 Term Loan
In February 2018, the Company entered into a credit agreement for gross proceeds of $28,500, with a bank for use in providing non-recourse financing for a new renewable natural gas energy asset at a rate of 7.5% above LIBOR. Principal and interest amounts are due in quarterly installments. The note matures on August 31, 2022 with all remaining unpaid amounts outstanding under the agreement due at that time. At March 31, 2018, $28,500 was outstanding under the term loan. March 31, 2018 was 9.2734%.