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

Debt (Tables)

9 Months Ended

Sep. 30, 2020

The following is a summary of the Company's debt facilities and balances as of September 30, 2020 and December 31, 2019:


	Total Commitment or Original Principal		Quarterly Principal Payments			September 30, 2020				December 31, 2019
					Maturity Date	Amount Outstanding		Interest Rate		Amount Outstanding		Interest Rate
CorEnergy Secured Credit Facility:
CorEnergy Revolver	$	160,000,000	$	—	7/28/2022	$	—	2.90	%	$	—	4.51	%

MoGas Revolver	1,000,000		—		7/28/2022	—		2.90	%	—		4.51	%
Omega Line of Credit	1,500,000		—		4/30/2021	—		4.15	%	—		5.76	%
Pinedale Secured Credit Facility:
Amended Pinedale Term Credit Facility (1)	41,000,000		882,000		12/29/2022	—		—	%	33,944,000		6.50	%
7.00% Unsecured Convertible Senior Notes	115,000,000		—		6/15/2020	—		7.00	%	2,092,000		7.00	%
5.875% Unsecured Convertible Senior Notes	120,000,000		—		8/15/2025	118,050,000		5.875	%	120,000,000		5.875	%
Total Debt						$	118,050,000			$	156,036,000
Less:
Unamortized deferred financing costs(2)						$	405,949			$	635,351
Unamortized discount on 7.00% Convertible Senior Notes						—				6,681
Unamortized discount on 5.875% Convertible Senior Notes						2,800,346				3,284,542
Total Debt, net of deferred financing costs						$	114,843,705			$	152,109,426
Debt due within one year						$	—			$	5,612,178
(1) The Amended Pinedale Term Credit Facility was settled during the second quarter of 2020 in connection with the sale of the Pinedale LGS asset. Refer to the "Amended Pinedale Term Credit Facility" section below.
(2) 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, 2020 and 2019 is as follows:


	For the Three Months Ended				For the Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
CorEnergy Credit Facility	$	143,636	$	143,635	$	430,906	$	430,906
Amended Pinedale Term Credit Facility	—		13,205		26,410		39,616
Total Deferred Debt Cost Amortization Expense (1)(2)	$	143,636	$	156,840	$	457,316	$	470,522
(1) Amortization of deferred debt issuance costs is included in interest expense in the Consolidated Statements of Operations.
(2) For the amount of deferred debt cost amortization relating to the convertible notes included in the Consolidated Statements of Operations, refer to the Convertible Note Interest Expense table below.

The following is a summary of the impact of convertible notes on interest expense for the three and nine months ended September 30, 2020 and 2019:


Convertible Note Interest Expense
	For the Three Months Ended				For the Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
7.00% Convertible Notes:
Interest Expense	$	—	$	632,189	$	55,331	$	3,265,626
Discount Amortization	—		62,030		6,681		312,079
Deferred Debt Issuance Amortization	—		4,051		1,141		20,382
Total 7.00% Convertible Notes	$	—	$	698,270	$	63,153	$	3,598,087

5.875% Convertible Notes:
Interest Expense	$	1,733,859	$	959,583	$	5,239,129	$	959,583
Discount Amortization	143,607		79,478		433,932		79,478
Deferred Debt Issuance Amortization	20,818		10,623		62,905		10,623
Total 5.875% Convertible Notes	$	1,898,284	$	1,049,684	$	5,735,966	$	1,049,684
Total Convertible Note Interest Expense	$	1,898,284	$	1,747,954	$	5,799,119	$	4,647,771