Quarterly report pursuant to Section 13 or 15(d)

Debt

v3.22.2
Debt
 6 Months Ended
Jun. 30, 2022
Debt [Abstract]  
DEBT
6. DEBT.

 

Long-term borrowings are summarized as follows (in thousands):

 

    June 30,
2022		     December 31,
2021		  
Kinergy line of credit   $ 52,596     $ 50,401  
Less unamortized debt financing costs     (78 )     (40 )
Less short-term portion    
—
      
—
  
Long-term debt   $ 52,518     $ 50,361  

 

As of June 30, 2022, Kinergy had $28.6 million in unused borrowing availability under its line of credit. In addition, the Company believes it is currently in compliance with its covenants under the line of credit.