Debt

Our obligations under debt arrangements consisted of the following:



	June 30, 2017						December 31, 2016
	Principal		Unamortized Discount and Debt Issuance Costs		Net Value		Principal		Unamortized Discount and Debt Issuance Costs		Net Value
Senior secured credit facility	$	1,211,000	$	—	$	1,211,000	$	1,278,200	$	—	$	1,278,200
6.000% senior unsecured notes due May 2023	400,000		6,224		393,776		400,000		6,758		393,242
5.750% senior unsecured notes due February 2021	350,000		3,653		346,347		350,000		4,163		345,837
5.625% senior unsecured notes due June 2024	350,000		6,165		343,835		350,000		6,614		343,386
6.750% senior unsecured notes due August 2022	750,000		17,699		732,301		750,000		19,296		730,704
Total long-term debt	$	3,061,000	$	33,741	$	3,027,259	$	3,128,200	$	36,831	$	3,091,369

As of June 30, 2017, we were in compliance with the financial covenants contained in our credit agreement and senior unsecured notes indentures.

Senior Secured Credit Facility

In May 2017, we amended our credit agreement to, among other things, (i) extend the maturity date of the credit facility to May 9, 2022 (provided, that if Genesis does not refinance or repay in full its 5.750% senior notes due 2021 on or prior to November 15, 2020, the maturity date will be November 15, 2020), (ii) change the maximum consolidated leverage ratio to 5.75 to 1.0 for the second quarter of 2017 through the second quarter of 2018, 5.50 to 1.0 for the third quarter of 2018 through the fourth quarter of 2019, 5.25 to 1.0 for the first quarter of 2020 through the fourth quarter of 2020 and 5.00 to 1.0 from the first quarter of 2021 and all periods thereafter, and (iii) add an additional level to the leverage-based pricing grid used to calculate the applicable margin for base rate loans and LIBOR loans to account for changes to the maximum consolidated leverage ratio.

The key terms for rates under our $1.7 billion senior secured credit facility, which are dependent on our leverage ratio (as defined in the credit agreement), are as follows:

•The applicable margin varies from 1.50% to 3.00% on Eurodollar borrowings and from 0.50% to 2.00% on alternate base rate borrowings.

•Letter of credit fees range from 1.50% to 3.00%

•The commitment fee on the unused committed amount will range from 0.25% to 0.50%.

•The accordion feature is $300.0 million, giving us the ability to expand the size of the facility up to $2.0 billion for acquisitions or growth projects, subject to lender consent.

At June 30, 2017, we had $1.2 billion borrowed under our $1.7 billion credit facility, with $47.6 million of the borrowed amount designated as a loan under the inventory sublimit. Our credit agreement allows up to $100.0 million of the capacity to be used for letters of credit, of which $1.0 million was outstanding at June 30, 2017. Due to the revolving nature of loans under our credit facility, additional borrowings and periodic repayments and re-borrowings may be made until the maturity date. The total amount available for borrowings under our credit facility at June 30, 2017 was $488.0 million.