Debt, Net | Debt, Net The Partnership's debt consists of the following: March 31, December 31, (In thousands) 2019 2018 NRP LP debt: 10.500% senior notes, with semi-annual interest payments in March and September, due March 2022, $241 million issued at par and $105 million issued at 98.75% $ 345,638 $ 345,638 Opco debt: Revolving credit facility $ — $ — Senior notes 8.38% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2019 $ — $ 21,319 5.05% with semi-annual interest payments in January and July, with annual principal payments in July, due July 2020 13,603 15,290 5.55% with semi-annual interest payments in June and December, with annual principal payments in June, due June 2023 11,823 13,414 4.73% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2023 30,356 37,195 5.82% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 63,834 89,529 8.92% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 20,059 27,185 5.03% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 91,821 107,013 5.18% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 23,536 30,555 Total Opco senior notes $ 255,032 $ 341,500 Total debt at face value $ 600,670 $ 687,138 Net unamortized debt discount (1,167 ) (1,266 ) Net unamortized debt issuance costs (11,802 ) (13,114 ) Total debt, net $ 587,701 $ 672,758 Less: current portion of long-term debt (46,024 ) (115,184 ) Total long-term debt, net $ 541,677 $ 557,574 NRP LP Debt 2022 Senior Notes As of March 31, 2019 and December 31, 2018 , NRP and NRP Finance were in compliance with the terms of the Indenture relating to their 10.500% Senior Notes due 2022 (the "2022 Senior Notes"). In April 2019, NRP and NRP Finance issued $300 million aggregate principal amount of 9.125% senior notes due 2025 ("2025 Senior Notes") and plans to use the net proceeds and cash on hand to fund the redemption of the 2022 Senior Notes in May 2019. See Note 17. Subsequent Events for more information. Opco Debt All of Opco’s debt is guaranteed by its wholly owned subsidiaries and is secured by certain of the assets of Opco and its wholly owned subsidiaries other than NRP Trona LLC. As of March 31, 2019 and December 31, 2018 , Opco was in compliance with the terms of the financial covenants contained in its debt agreements. Opco Credit Facility As of March 31, 2019 , the Partnership did not have any borrowings outstanding under Opco’s Third Amended and Restated Credit Agreement, as amended (the "Opco Credit Facility") and had $100 million in available borrowing capacity. In April 2019, the Partnership entered into the Fourth Amendment to the Opco Credit Facility which extended the term of the Opco Credit Facility from April 2020 to April 2023. See Note 17. Subsequent Events for more information. The weighted average interest rate for the borrowings outstanding under the Opco Credit Facility during the three months ended March 31, 2018 was 5.91% . There were no borrowings outstanding under the Opco Credit Facility during the three months ended March 31, 2019 . Debt issuance cost related to the Opco Credit Facility were $1.4 million and $1.7 million at March 31, 2019 and December 31, 2018 , respectively, and have been capitalized and included in Other assets on the Partnership's Consolidated Balance Sheets. The Opco Credit Facility is collateralized and secured by liens on certain of Opco’s assets with carrying values of $546.2 million and $548.9 million classified as Mineral rights, net and Plant and equipment, net and on the Partnership’s Consolidated Balance Sheets as of March 31, 2019 and December 31, 2018 , respectively. Opco Senior Notes As of March 31, 2019 and December 31, 2018 , the private placement senior notes ("Opco Senior Notes") had cumulative principal balances of $255.0 million and $341.5 million , respectively. Opco made mandatory principal payments of $86.5 million , which included a $49.3 million pre-payment as a result of the sale of the Partnership's construction aggregates business during the three months ended March 31, 2019 , and $40.8 million during the three months ended March 31, 2018 . The 8.38% and 8.92% Opco Senior Notes also provide that in the event that Opco’s leverage ratio of consolidated indebtedness to consolidated EBITDDA (as defined in the Note Purchase Agreements) exceeds 3.75 to 1.00 at the end of any fiscal quarter, then in addition to all other interest accruing on these notes, additional interest in the amount of 2.00% per annum shall accrue on the notes for the two succeeding quarters and for as long thereafter as the leverage ratio remains above 3.75 to 1.00. Opco has not exceeded the 3.75 to 1.00 ratio at the end of any fiscal quarter through March 31, 2019 . |