Quarterly report pursuant to Section 13 or 15(d)

Borrowings

v3.21.2
Borrowings
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Borrowings
NOTE 9 — BORROWINGS
The following tables summarize the Company’s borrowings as of September 30, 2021, and December 31, 2020 (in thousands):
September 30, 2021
Principal repayment obligation
Unamortized DFC and discounts Carrying value
2018 Term Loan, due September 2021 $ —  $ —  $ — 
2019 Term Loan, due March 2022 —  —  — 
2020 Unsecured Note —  —  — 
Total borrowings $ —  $ —  $ — 
December 31, 2020
Principal repayment obligation Unamortized DFC and discounts Carrying value
2018 Term Loan, due September 2021 $ 60,000  $ (805) $ 59,195 
2019 Term Loan, due March 2022 (a)
43,217  (4,942) 38,275 
2020 Unsecured Note 16,000  (2,376) 13,624 
Total borrowings $ 119,217  $ (8,123) $ 111,094 
(a) Includes paid-in-kind interest on the 2019 Term Loan of $3.3 million.
Full Repayment of the Company’s Borrowing Obligations
Over the course of the current year, we voluntarily repaid all borrowing obligations that were outstanding under the 2018 Term Loan, 2019 Term Loan, and 2020 Unsecured Note. As of September 30, 2021, our total borrowing obligation was zero.
Trade Finance Credit Line
On July 19, 2021, we entered into an uncommitted trade finance credit line for up to $30.0 million that is intended to finance the purchase and sale of LNG cargoes for ultimate resale in the normal course of business. As of the period ended September 30, 2021, no amounts have been drawn.