CorEnergy Infrastructure Trust, Inc. Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

9 Months Ended

Sep. 30, 2019

The following is a summary of the Company's debt facilities and balances as of September 30, 2019 and December 31, 2018:



	Total Commitment or Original Principal		Quarterly Principal Payments			September 30, 2019				December 31, 2018
	Total Commitment or Original Principal		Quarterly Principal Payments		Maturity Date	Amount Outstanding		Interest Rate		Amount Outstanding		Interest Rate
CorEnergy Secured Credit Facility:
CorEnergy Revolver	$	160,000,000	$	—	7/28/2022	$	—	4.77	%	$	—	5.25	%
MoGas Revolver	1,000,000		—		7/28/2022	—		4.77	%	—		5.25	%
Omega Line of Credit	1,500,000		—		7/31/2020	—		6.02	%	—		6.50	%
Pinedale Secured Credit Facility:
Amended Pinedale Term Credit Facility	41,000,000		882,000		12/29/2022	34,826,000		6.50	%	37,472,000		6.50	%
7.00% Unsecured Convertible Senior Notes	115,000,000		—		6/15/2020	5,526,000		7.00	%	113,958,000		7.00	%
5.875% Unsecured Convertible Senior Notes	120,000,000		—		8/15/2025	120,000,000		5.875	%	—		—
Total Debt						$	160,352,000			$	151,430,000
Less:
Unamortized deferred financing costs ⁽¹⁾						$	656,479			$	283,278
Unamortized discount on 7.00% Convertible Senior Notes						26,986				1,108,342
Unamortized discount on 5.875% Convertible Senior Notes						3,430,522				—
Total Debt, net of deferred financing costs						$	156,238,013			$	150,038,380
Debt due within one year						$	9,025,251			$	3,528,000
(1) Unamortized deferred financing costs related to the Company's revolving credit facilities are included in Deferred Costs in the Assets section of the Consolidated Balance Sheets. Refer to the "Deferred Financing Costs" paragraph below.

A summary of deferred financing cost amortization expenses for the three and nine months ended September 30, 2019 and 2018 is as follows:



	For the Three Months Ended				For the Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
CorEnergy Credit Facility	$	143,635	$	143,636	$	430,906	$	430,906
Amended Pinedale Term Credit Facility	13,205		13,206		39,616		39,523
Total Deferred Debt Cost Amortization Expense ⁽¹⁾⁽²⁾	$	156,840	$	156,842	$	470,522	$	470,429
(1) Amortization of deferred debt issuance costs is included in interest expense in the Consolidated Statements of Income.
(2) For the amount of deferred debt cost amortization relating to the convertible notes included in the Consolidated Statements of Income, refer to the Convertible Note Interest Expense table below.

The remaining contractual principal payments as of September 30, 2019 under the Amended Pinedale Term Credit Facility are as follows:



Year	Amended Pinedale Term Credit Facility
2019	$	882,000
2020	3,528,000
2021	3,528,000
2022	26,888,000
2023	—
Thereafter	—
Total Remaining Contractual Payments	$	34,826,000

The following is a summary of the impact of convertible notes on interest expense for the three and nine months ended September 30, 2019 and 2018:



Convertible Note Interest Expense
	For the Three Months Ended				For the Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
7.00% Convertible Notes:
Interest Expense	$	632,189	$	1,994,853	$	3,265,626	$	5,984,853
Discount Amortization	62,030		184,728		312,079		554,184
Deferred Debt Issuance Amortization	4,051		12,069		20,382		36,207
Total 7.00% Convertible Notes	$	698,270	$	2,191,650	$	3,598,087	$	6,575,244

5.875% Convertible Notes:
Interest Expense	$	959,583	$	—	$	959,583	$	—
Discount Amortization	79,478		—		79,478		—
Deferred Debt Issuance Amortization	10,623		—		10,623		—
Total 5.875% Convertible Notes	$	1,049,684	$	—	$	1,049,684	$	—
Total Convertible Note Interest Expense	$	1,747,954	$	2,191,650	$	4,647,771	$	6,575,244