Debt and Capital Lease Obligations (Tables)

12 Months Ended

Jan. 31, 2017

Debt and capital lease obligations consisted of the following:



	January 31,
(in thousands)	2017			2016
Revolving credit facility	$	177,500		$	329,207
Senior Notes	227,000			227,000
2015 Class A Notes	12,166			551,383
2015 Class B Notes	165,900			165,900
2016A Class A Notes	64,732			—
2016A Class B Notes	70,510			—
2016A Class C Notes	70,510			—
2016B Class A Notes	256,513			—
2016B Class B Notes	111,960			—
Capital lease obligations	2,393			2,488
Total debt and capital lease obligations	1,159,184			1,275,978
Less:
Discount on debt	(3,089		)	(3,641		)
Deferred debt issuance costs	(10,853		)	(22,659		)
Current maturities of capital lease obligations	(849		)	(799		)
Long-term debt and capital lease obligations	$	1,144,393		$	1,248,879

Aggregate maturities of long-term debt

Future maturities of debt, excluding capital lease obligations, as of January 31, 2017 are as follows:



(in thousands)
Year ended January 31,
2018	$	—
2019	569,254
2020	111,960
2021	248,577
2022	—
Thereafter	227,000
Total	$	1,156,791

Schedule of Asset-Backed Notes

The asset-backed notes consist of the following:



Asset-Backed Notes	Principal Amount		Net Proceeds⁽¹⁾		Issuance Date	Maturity Date	Fixed Interest Rate	Effective Interest Rate⁽²⁾
2015-A Class A Notes	$	952,100	$	922,247	9/10/2015	9/15/2020	4.57%	9.10%
2015-A Class B Notes	165,900		156,200		9/10/2015	9/15/2020	8.50%	10.00%
2016-A Class A Notes	423,030		409,845		3/17/2016	4/16/2018	4.68%	7.20%
2016-A Class B Notes	70,510		68,309		3/17/2016	8/15/2018	8.96%	10.10%
2016-A Class C Notes	70,510		71,648		10/12/2016	4/15/2020	12.00%	10.60%
2016-B Class A Notes	391,840		380,033		10/6/2016	10/15/2018	3.73%	6.30%
2016-B Class B Notes	111,960		108,586		10/6/2016	3/15/2019	7.34%	8.20%
Total	$	2,185,850	$	2,116,868


(1)	After giving effect to debt issuance costs and restricted cash held by the VIEs.


(2)	After giving effect to debt issuance costs.

Schedule of debt covenants

A summary of the significant financial covenants that govern our revolving credit facility compared to our actual compliance status at January 31, 2017 is presented below:



	Actual	Required Minimum/ Maximum
Interest Coverage Ratio must equal or exceed minimum	1.74:1.00	1.00:1.00
Leverage Ratio must not exceed maximum	2.53:1.00	4.00:1.00
ABS Excluded Leverage Ratio must not exceed maximum	1.27:1.00	2.00:1.00
Cash Recovery Percent must exceed stated amount	4.66%	4.25%
Capital Expenditures, net, must not exceed maximum	$11.5 million	$75.0 million