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, as amended, has applicable margins equal to 2.50%, 2.75% or 3.00%, in the case of LIBOR loans and 1.50%, 1.75% or 2.00%, in the case of base rate loans; the applicable margins are based on the First Lien Net Leverage Ratio. 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%.

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 March 31, 2017, we were in compliance with the covenants of the Credit Facilities.

As of March 31, 2017, we had $30,000 in borrowings under the Revolver and had outstanding letters of credit of $14,518 leaving $155,482 available for borrowings and letters of credit under the Revolver. We obtain letters of credit in connection with certain regulatory and insurance obligations 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 3.39% and 4.00%, respectively, for the nine months ended March 31, 2017.

Long-Term Debt

As of	March 31, 2017			June 30, 2016
Term B Loan due April 2021		$	282,025		$	284,200
Capitalized lease obligations			—			7
			282,025			284,207
Unamortized debt issuance costs and debt discount			(2,560)			(3,035)
Less: current maturities			(2,900)			(2,907)
		$	276,565		$	278,265