5. Debt

Revolving Credit Facility and Term B Loan

We have a revolving credit facility (the “Revolver”), where we can borrow up to $200,000, subject to the terms of the agreement, and a term B loan (the “Term B Loan,” and together with the Revolver, the “Credit Facilities”). The Revolver has applicable margins equal to 2.50% or 2.75%, in the case of LIBOR loans and 1.50% or 1.75%, in the case of base rate loans; the margins are based on the First Lien Net Leverage Ratio. The Term B Loan has applicable margins equal to 3.00% with regards to LIBOR loans and 2.00% regarding base rate loans. The LIBOR rate on the Term B Loan is subject to a floor of 1.00%.

The Revolver requires, among other things, the maintenance of a maximum consolidated first lien net debt to consolidated EBITDA leverage ratio, calculated on a trailing four quarter basis, and contains an acceleration clause should an event of default (as defined in the agreement governing the Credit Facilities) occur. As of September 30, 2016, we were in compliance with the covenants of the Credit Facilities.

As of September 30, 2016, we had $62,000 in borrowings under the Revolver and had outstanding letters of credit of $14,242 leaving $123,758 available for borrowings and letters of credit under the Revolver. We obtain letters of credit in connection with certain regulatory and insurance obligations, inventory purchases and other contractual obligations. The tenors of these letters of credit are all one year or less.

The weighted-average interest rates for the Revolver and Term B Loan were 3.26% and 4.00%, respectively, for the three months ended September 30, 2016.

Long-Term Debt

As of	September 30, 2016			June 30, 2016
Term B loan due April 2021		$	283,475		$	284,200
Capitalized lease obligations			3			7
			283,478			284,207
Unamortized debt issuance costs and debt discount			(2,877)			(3,035)
Less: current maturities			(2,903)			(2,907)
		$	277,698		$	278,265

During the three months ended September 30, 2016, we applied the provisions of ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30). Debt issuance costs of $2,406 and $2,538 as of September 30, 2016, and June 30, 2016, respectively, have been presented as a reduction in long-term debt on our consolidated balance sheets.