Debt

6 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Debt

6. Debt

Revolving Credit Facility and Term B Loan

We have a revolving credit facility (the “Revolver”) and a term B loan (the “Term B Loan,” and together with the Revolver, the “Credit Facilities”). The Term B Loan has applicable margins equal to 3.00% in the case of LIBOR loans and 2.00% in the case of base rate loans. The LIBOR rate on the Term B Loan is subject to a floor of 1.00%.

In January 2016, we amended the agreements governing our Credit Facilities to, among other things, increase the commitment available to us under the Revolver from $100,000 to $200,000. All other material terms and conditions were unchanged.

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 December 31, 2015, we were in compliance with the covenants of the Credit Facilities.

As of December 31, 2015, we had $20,000 in borrowings under the Revolver and had outstanding letters of credit of  $14,065, leaving $65,935 available for borrowings and letters of credit under the Revolver. In January 2016 we funded the MVP acquisition with the Revolver. For additional details, see “—Subsequent Event.” 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 on the Revolver and Term B Loan were 2.88% and 4.00%, respectively, for the six months ended December 31, 2015.

Long-Term Debt

As of	December 31, 2015			June 30, 2015
Term B loan due April 2021	​	$	285,650	​	$	287,100
Capitalized lease obligations	​	​	19	​	​	18
​	​	​	285,669	​	​	287,118
Unamortized debt discount	​	​	(548)	​	​	(600)
​	​	​	285,121	​	​	286,518
Less: current maturities	​	​	(2,814)	​	​	(2,809)
​	​	$	282,307	​	$	283,709