SHORT-TERM BORROWINGS AND LONG-TERM DEBT |
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| Debt Disclosure [Abstract] | 听 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SHORT-TERM BORROWINGS AND LONG-TERM DEBT | SHORT-TERM BORROWINGS AND LONG-TERM DEBT Revolving Credit Facility
In April 2020, 大象传媒 entered into Amendment No.听1 to its $2.25听billion senior unsecured revolving line of credit (the "Global Credit Facility") (the 鈥淎mendment鈥). The Amendment provides for (i)听an increase in 大象传媒鈥檚 consolidated indebtedness to consolidated capitalization ratio financial covenant to 0.70 to 1.00 (from 0.60 to 1.00) through the last day of the fiscal quarter ending March听31, 2022, (ii) calculation of consolidated indebtedness (and, thereby consolidated capitalization) net of unrestricted cash of 大象传媒 and its subsidiaries and (iii)听testing of such financial covenant solely as of the last day of each fiscal quarter during such period. In addition, the Amendment requires 大象传媒 and its subsidiaries to maintain minimum liquidity in the form of unrestricted cash and unused financing commitments of not less than $750.0听million at all times during such period. As of June 2020, 大象传媒 was in compliance with all covenants.
Senior Notes Issuance
In April 2020, 大象传媒 issued senior unsecured notes, as outlined in the table below:
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