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Long-Term Debt | 6 Months Ended
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Dec. 31, 2016
Long-term Debt, Unclassified [Abstract] |
LONG-TERM DEBT | LONG-TERM DEBT Long-term debt Long-term debt is comprised of the following:
| As of December 31, 2016 |  | As of June 30, 2016
Total debt |  |  |
Senior Notes 2026 | $ | 850,000 |  |  | $ | 600,000 |
Senior Notes 2023 | 800,000 |  |  | 800,000 |
Term Loan B | 776,000 |  |  | 780,000 |
Total principal payments due | 2,426,000 |  |  | 2,180,000 |
Premium on Senior Notes 2026 | 6,875 |  |  | — |
Debt issuance costs | (35,049 | ) |  | (34,013 | )
Total amount outstanding | 2,397,826 |  |  | 2,145,987 |
Less: |  |  |
Current portion of long-term debt |  |  |
Term Loan B | 8,000 |  |  | 8,000 |
Non-current portion of long-term debt | $ | 2,389,826 |  |  | $ | 2,137,987 |
Senior Notes 2026 On May 31, 2016, we issued $600 million in aggregate principal amount of 5.875% Senior Notes due 2026 (Senior Notes 2026) 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 2026 bear interest at a rate of 5.875% per annum, payable semi-annually in arrears on June 1 and December 1, commencing on December 1, 2016. Senior Notes 2026 will mature on June 1, 2026, unless earlier redeemed, in accordance with their terms, or repurchased. On December 20, 2016, we issued an additional $250 million in aggregate principal amount by reopening the previously issued Senior Notes 2026 at an issue price of 102.75%. The additional notes have identical terms, are fungible with and are a part of a single series with the $600 million aggregate principal amount of Senior Notes 2026. The outstanding aggregate principal amount of Senior Notes 2026, after taking into consideration the additional issuance, is $850 million. For the three and six months ended December 31, 2016, we recorded interest expense of $9.4 million and $18.2 million, respectively, relating to Senior Notes 2026. Senior Notes 2023 On January 15, 2015, we issued $800 million in aggregate principal amount of 5.625% Senior Notes due 2023 (Senior Notes 2023) in an unregistered offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and to certain persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Notes 2023 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 2023 will mature on January 15, 2023, unless earlier redeemed, in accordance with their terms, or repurchased. For the three and six months ended December 31, 2016, we recorded interest expense of $11.2 million and $22.5 million, respectively, relating to Senior Notes 2023 (three and six months ended December 31, 2015—$11.2 million and $22.5 million, 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 six months ended December 31, 2016, we recorded interest expense of $6.5 million and $13.0 million, respectively, relating to Term Loan B (three and six months ended December 31, 2015—$6.6 million and $13.1 million, respectively). Revolver As of December 31, 2016 we had a $300 million undrawn committed revolving credit facility (the Revolver). Subsequently, on January 13, 2017 we drew down $200 million from the Revolver, to partially finance the Dell-EMC Acquisition (as defined in note 18 "Acquisitions") and on January 26, 2017, we drew down an additional $25 million from the Revolver for miscellaneous general corporate purposes. Furthermore on February 1, 2017, we amended the Revolver to increase the total commitments under the revolving credit facility from $300 million to $450 million (see note 22 "Subsequent Events"). 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. Borrowings under the Revolver bear interest per annum at a floating rate of LIBOR plus a fixed rate that is dependent on our consolidated net leverage ratio. Debt Issuance Costs and Premium on Senior Notes Debt issuance costs relate primarily to costs incurred for the purpose of obtaining our credit facilities and issuing our Senior Notes and are being amortized over the respective terms of the Senior Notes, Term Loan B and the Revolver, using the effective interest method. In connection with the recent reopening of Senior Notes 2026, we incurred debt issuance costs of approximately $3.7 million, of which $2.8 million had been paid as of December 31, 2016. The premium on Senior Notes 2026 represents the excess of the proceeds received over the face value of Senior Notes 2026. This premium is amortized as a credit to interest expense over the term of Senior Notes 2026 using the effective interest method.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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