Quarterly report pursuant to Section 13 or 15(d)

Debt

v3.21.2
Debt
6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Debt DEBT
June 30,
2021
December 31,
2020
Credit lines (international) $ 4.6  $ 4.5 
Insurance premiums financing 1.2  1.0 
Short-term debt 5.8  5.5 
Current installment of Term Loan Facility 3.5  2.6 
Current installment of finance leases 0.4  0.3 
Current installments of long-term debt 3.9  2.9 
Noncurrent portion of Term Loan Facility 45.6  67.4 
Amended ABL Credit Facility 9.0  10.0 
Other financing payable (including finance leases) 0.9  0.7 
Total principal balance outstanding, long-term debt 55.5  78.1 
Less: Deferred financing costs (5.9) (6.7)
Long-term debt, net of unamortized debt issuance costs: 49.6  71.4 
Total $ 59.3  $ 79.8 

Upon the sale of our South Gate Facility, we made a mandatory payment of $20.0 million to Pathlight Capital L.P. towards the principal balance on our Term Loan Facility as required by the Term Loan Agreement. As part of the mandatory payment, we paid an additional $0.4 million in prepayment premium fees. Additional proceeds from the South Gate Facility sale were applied to outstanding borrowings under our Amended ABL Credit Facility. Upon completion of the sale, the temporary $30.0 million restriction on available liquidity under the Amended ABL Credit Facility was removed.
During March 2021, we entered a new line of credit in China. The new credit limit is $9.3 million with a one-year maturity date and a variable interest rate of 3.85% to 4.35%. The loan is secured by the land and building of our Chinese facility.