5.	LONG-TERM DEBT

Long-term debt and capital leases consisted of the following:


	March 31, 2016		December 31, 2015
Senior Secured Asset-Based Revolving Credit Facility:
Due February 2020; bearing interest at one-month LIBOR plus 2.25%	$	68,000	$	57,422

Tax-Exempt Bonds:
New York State Enviornmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014 due December 2044 - fixed rate interest period through 2019, bearing interest at 3.75%		25,000		25,000

Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-2 due January 2025 - fixed rate interest period through 2017, bearing interest at 6.25%		21,400		21,400

Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2015 due August 2035 - fixed rate interest period through 2025, bearing interest at 5.125%		15,000		15,000

Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2013 due April 2036 - fixed rate interest period through 2018, bearing interest at 4.75%		16,000		16,000

Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds Series 2013 due April 2029 - fixed rate interest period through 2019, bearing interest at 4.00%		11,000		11,000

Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-1; letter of credit backed due January 2025 - variable rate interest period through 2017, bearing interest at SIFMA Index		3,600		3,600

Other:
Capital leases maturing through April 2023, bearing interest at up to 7.70%		3,997		4,130

Notes payable maturing through December 2017, bearing interest at up to 7.00%		1,167		1,167

Senior Subordinated Notes:
Due February 2019; bearing interest at 7.75%		366,070		370,300

Principal amount of long-term debt and capital leases		531,234		525,019
Less—unamortized discount and debt issuance costs (1)		16,556		17,586

Long-term debt and capital leases less unamortized discount and debt issuance costs		514,678		507,433
Less—current maturities of long-term debt		1,458		1,448

	$	513,220	$	505,985

(1)	Unamortized discount and debt issuance costs associated with each respective debt instrument are as follows:


	March 31, 2016		December 31, 2015
Senior Secured Asset-Based Revolving Credit Facility	$	5,335	$	5,593
New York State Enviornmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014		1,361		1,407
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-2		553		566
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2015		812		830
Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2013		628		636
Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds Series 2013		659		690
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-1		34		35
Senior Subordinated Notes		7,174		7,829

	$	16,556	$	17,586

(Gain) Loss on Debt Extinguishment

Senior Subordinated Notes. In the three months ended March 31, 2016, we repurchased and permanently retired $4,230 aggregate principal amount of 7.75% senior subordinated notes due February 2019 (“2019 Notes”) at a repurchase price of $96.75 in order to maximize interest savings by paying down our most expensive debt. As a result of the repurchase, we recorded a gain on debt extinguishment of $48 in the three months ended March 31, 2016 related to the non-cash gain associated with the below par repurchase price, net of the write off of debt issuance costs and unamortized original issue discount in proportion with the settlement amount.

Senior Credit Facility. In the three months ended March 31, 2015, we recorded a charge of $521 as a loss on debt extinguishment related to the write-off of debt issuance costs in connection with changes to the borrowing capacity from the senior revolving credit and letter of credit facility that was due March 2016 (“Senior Credit Facility”) to the new senior secured asset-based revolving credit and letter of credit facility due February 2020 (“ABL Facility”). The remaining unamortized deferred financing costs of the Senior Credit Facility, along with fees paid to the creditor and third-party costs incurred for the ABL Facility, are to be amortized over the term of the ABL Facility.