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Long-Term Debt (Notes)
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Long-Term Debt
Long-term debt consisted of the following (in millions):
June 30,
2021		December 31,
2020
Senior Secured Credit Facility:
Borrowings under $250 million revolving credit facility, due 2024$— $— 
Term B loan facility, due 2025490.8 490.8 
Unsecured Senior Notes, due 2028550.0 550.0 
1,040.8 1,040.8 
Unamortized deferred loan costs(7.1)(7.4)
$1,033.7 $1,033.4 

Senior Secured Credit Facility — The senior secured credit facility ("Credit Facility") consists of a term B loan and a $250.0 million revolving credit facility ("Revolver"). Borrowings under the term B loan bear interest at LIBOR plus 1.75 percent, or the bank’s base rate plus 0.75 percent. Borrowings under the Revolver bear interest at LIBOR plus 1.25 to 2.25 percent, or the bank’s base rate plus 0.25 to 1.25 percent, depending on leverage levels. A commitment fee of 0.20 to 0.35 percent is payable on the undrawn portion of the Revolver. The Revolver is limited to a maximum ratio of senior secured debt to trailing 12-months of lender-defined consolidated EBITDA of 4.00 to 1.00, which was 1.17 to 1.00 at June 30, 2021. There are no required minimum payments on the Credit Facility. The Credit Facility is secured by substantially all of the Company's assets and includes various restrictive covenants. At June 30, 2021, the Company was in compliance with its debt covenants. As a result of the planned divestiture of the Oxford business, the Company amended its Credit Facility to permit the sale of its Oxford business and allow the sale proceeds to be used for, among other things, future acquisitions.
Unsecured Senior Notes — The Company has $550.0 million of unsecured senior notes ("Senior Notes"), which bear interest at 4.625 percent. Interest is payable semiannually in arrears on May 15 and November 15. The Senior Notes are unsecured obligations and are subordinate to the Company's Credit Facility to the extent of the collateral securing such facility. The Senior Notes also contain certain customary limitations including, among other terms and conditions, the Company's ability to incur additional indebtedness, engage in mergers and acquisitions, transfer or sell assets and make certain distributions.