Long-Term Debt

3 Months Ended

Jun. 30, 2023

Long-term debt consists of the following, as of the dates indicated:


(In thousands, except percentages)	June 30, 2023		March 31, 2023

2021 Senior Notes bearing interest at 3.750%, with interest payable on April 1 and October 1 of each year. The 2021 Senior Notes mature on April 1, 2031.	$	600,000	$	600,000
2019 Senior Notes bearing interest at 5.125%, with interest payable on January 15 and July 15 of each year. The 2019 Senior Notes mature on January 15, 2028.	400,000		400,000

2012 Term B-5 Loans bearing interest at the Borrower's option at either LIBOR plus a margin of 2.00%, with a LIBOR floor of 0.50%, or an alternate base rate plus a margin of 1.00% per annum, due on July 1, 2028. *	330,000		360,000
2012 ABL Revolver bearing interest at the Borrower's option at either a base rate plus applicable margin or LIBOR (at March 31, 2023) and SOFR (at June 30, 2023) plus applicable margin. Any unpaid balance is due on December 11, 2024.	—		—


Long-term debt	1,330,000		1,360,000
Less: unamortized debt costs	(13,289)		(14,212)

Long-term debt, net	$	1,316,711	$	1,345,788

* On June 12, 2023, we entered into Term Loan Amendment No. 7 to the Company’s 2012 Term Loan, effective July 1, 2023. Term Loan Amendment No. 7 provides for the replacement of LIBOR with SOFR as our reference rate.

At June 30, 2023, we had no balance outstanding on the Company's asset-based revolving credit facility originally entered into on January 31, 2012 (the "2012 ABL Revolver") and a borrowing capacity of $174.9 million.

On April 4, 2023, we entered into Amendment No. 8 to the 2012 ABL Revolver. ABL Amendment No. 8 provides for the replacement of LIBOR with SOFR as our reference rate.

As of June 30, 2023, aggregate future principal payments required in accordance with the terms of the 2012 Term B-5 Loans under the 2012 Term Loan, the 2012 ABL Revolver and the indentures governing the senior unsecured notes due 2031 (the "2021 Senior Notes") and the senior unsecured notes due 2028 (the "2019 Senior Notes") are as follows:


(In thousands)
Year Ending March 31,	Amount
2024 (remaining nine months ending March 31, 2024)	$	—
2025	—
2026	—
2027	—
2028	400,000
Thereafter	930,000
	$	1,330,000