LONG-TERM DEBT

Long-term debt

Long-term debt is comprised of the following:



	As of March 31, 2016		As of June 30, 2015
Total debt
Senior Notes	$	800,000	$	800,000
Term Loan B	782,000		788,000
	1,582,000		1,588,000
Less:
Current portion of long-term debt
Term Loan B	8,000		8,000

Non-current portion of long-term debt	$	1,574,000	$	1,580,000

Senior Unsecured Fixed Rate Notes

On January 15, 2015, we issued $800 million in aggregate principal amount of 5.625% Senior Notes due 2023 (Senior Notes) in an unregistered offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (Securities Act), and to certain persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Notes bear interest at a rate of 5.625% per annum, payable semi-annually in arrears on January 15 and July 15, commencing on July 15, 2015. Senior Notes will mature on January 15, 2023, unless earlier redeemed, in accordance with their terms, or repurchased.

For the three and nine months ended March 31, 2016, we recorded interest expense of $11.2 million and $33.7 million, respectively, relating to Senior Notes (three and nine months ended March 31, 2015—$9.4 million, for both periods respectively).

Term Loan B

In connection with the acquisition of GXS Group, Inc. (GXS), on January 16, 2014, we entered into a credit facility, which provides for a $800 million term loan facility (Term Loan B).

Borrowings under Term Loan B are secured by a first charge over substantially all of our assets on a pari passu basis with the Revolver (defined below). We entered into Term Loan B and borrowed the full amount on January 16, 2014.

Term Loan B has a seven year term and repayments made under Term Loan B are equal to 0.25% of the original principal amount in equal quarterly installments for the life of Term Loan B, with the remainder due at maturity. Borrowings under Term Loan B currently bear a floating rate of interest at a rate per annum equal to 2.5% plus the higher of LIBOR or 0.75%.

For the three and nine months ended March 31, 2016, we recorded interest expense of $6.4 million and $19.5 million, respectively, relating to Term Loan B (three and nine months ended March 31, 2015—$6.4 million and $19.6 million, respectively).

Revolver

We currently have a $300 million committed revolving credit facility (the Revolver). Borrowings under the Revolver are secured by a first charge over substantially all of our assets, and on a pari passu basis with Term Loan B. The Revolver will mature on December 22, 2019 with no fixed repayment date prior to the end of the term. As of March 31, 2016, we have not drawn any amounts on the Revolver.