6.	LONG-TERM DEBT

A summary of long-term debt and capital leases by debt instrument follows:


	June 30, 2016		December 31, 2015
Senior Secured Asset-Based Revolving Credit Facility:
Due February 2020; bearing interest at one-month LIBOR plus 2.25%	$	55,800	$	57,422
Tax-Exempt Bonds:
New York State Environmental 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
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014R-2 due December 2044 - fixed rate interest period through 2026, bearing interest at 3.125%		15,000		—
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%		4,508		4,130
Notes payable maturing through January 2021, bearing interest at up to 7.00%		1,153		1,167
Senior Subordinated Notes:
Due February 2019; bearing interest at 7.75%		350,570		370,300

Principal amount of long-term debt and capital leases		519,031		525,019
Less—unamortized discount and debt issuance costs (1)		15,816		17,586

Long-term debt and capital leases less unamortized discount and debt issuance costs		503,215		507,433
Less—current maturities of long-term debt		1,411		1,448

	$	501,804	$	505,985

(1)	A summary of unamortized discount and debt issuance costs by debt instrument follows:


	June 30, 2016		December 31, 2015
Senior Secured Asset-Based Revolving Credit Facility	$	4,976	$	5,593
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014		1,314		1,407
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014R-2		602		—
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-2		534		566
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2015		795		830
Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2013		620		636
Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds Series 2013		627		690
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-1		33		35
Senior Subordinated Notes		6,315		7,829

	$	15,816	$	17,586

Financing Activities

New York Bonds 2016

In the three months ended June 30, 2016, we completed a financing transaction involving the issuance by the New York State Environmental Facilities Corporation of $15,000 aggregate principal amount of Solid Waste Disposal Revenue Bonds Series 2014R-2 (“New York Bonds 2016”). We borrowed the proceeds of the offering of the New York Bonds 2016 to finance or refinance certain capital projects in the state of New York, and to pay certain costs of issuance of the New York Bonds 2016. As of June 30, 2016, we had $848 of restricted cash reserved for repayment of certain capital projects in the state of New York as a result of this financing.

As of June 30, 2016, we had outstanding $15,000 aggregate principal amount of New York Bonds 2016. The New York Bonds 2016, which are unsecured and guaranteed jointly and severally, fully and unconditionally by all of our significant wholly-owned subsidiaries, accrue interest at 3.125% per annum through May 31, 2026, at which time they may be converted from a fixed rate to a variable rate, and interest is payable on June 1 and December 1 of each year.

Loss on Debt Extinguishment

Senior Subordinated Notes

In the three months ended June 30, 2016, we redeemed and permanently retired $12,500 aggregate principal amount of 7.75% senior subordinated notes due February 2019 (“2019 Notes”) at a redemption price equal to 101.938% of the principal amount thereof plus accrued and unpaid interest thereon in order to maximize interest savings by paying down our most expensive debt. As a result of the redemption, we recorded a loss on debt extinguishment of $525 in the three months ended June 30, 2016 related to the premium associated with the redemption price, the write off of debt issuance costs and unamortized original issue discount in proportion with the settlement amount.

In the three months ended June 30, 2016, we repurchased and permanently retired $3,000 aggregate principal amount of 2019 Notes at a repurchase price of $102.25 in order to maximize interest savings by paying down our most expensive debt. As a result of the repurchase, we recorded a loss on debt extinguishment of $68 in the three months ended June 30, 2016 related to the premium associated with the repurchase price, the write off of debt issuance costs and unamortized original issue discount in proportion with the settlement amount.

In the quarter ended March 31, 2016, we repurchased and permanently retired $4,230 aggregate principal amount of 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 quarter 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 quarter 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 our previous senior revolving credit and letter of credit facility that was due March 2016 (“Senior Credit Facility”) to our current 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.