LONG-TERM DEBT

Long-term debt consisted of the following:



	March 31, 2016			December 31, 2015
	(in thousands)
Term Loan Facility (net of $2.4 million and $3.3 million discount)	$	1,173,398		$	1,174,369
Revolving Credit Facility	133,000			43,000
Notes	237,581			235,085
Debt issuance costs	(3,039		)	(3,276		)
Total debt	1,540,940			1,449,178
Less: current maturities	(4,550		)	(4,550		)
Long-term debt	$	1,536,390		$	1,444,628

The Company maintains a $1.2 billion term loan facility (the “Term Loan Facility”) that matures in March 2019. The Company also maintains a $300.0 million revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Credit Facility”) that matures in September 2018 as described in more detail below. On August 10, 2015, the Company issued $287.5 million principal amount of 1.5% convertible senior notes due 2020 (the "Notes") in a private offering.

At March 31, 2016 and December 31, 2015, the interest rate under the Term Loan Facility was 3.25%. The Revolving Credit Facility had a weighted average interest rate of 2.7% and 2.6% at March 31, 2016 and December 31, 2015, respectively. At March 31, 2016 and December 31, 2015, the commitment fee on the undrawn portion of the Revolving Credit Facility was 0.5%, and the fee on outstanding letters of credit was 2.50%.

Refinancing of Revolving Credit Facility

The Company amended the Revolving Credit Facility on March 4, 2016, to extend its maturity from March 2017 to September 2018 and increase total availability from $130.0 million to $300.0 million. In connection with this transaction, the Company incurred $1.7 million of costs, which were capitalized as deferred financing fees within "Other long-term assets" and will be amortized to interest expense over the new term of the Revolving Credit Facility. At March 31, 2016, the Company had $161.4 million available under the Revolving Credit Facility, after giving effect to $133.0 million of borrowings outstanding (including $90.0 million drawn in the current quarter) and $5.6 million utilized to secure letters of credit.

Convertible Debt

The Notes consist of the following components:



	March 31, 2016			December 31, 2015
	(in thousands)
Liability component
Principal	$	287,500		$	287,500
Conversion feature	(44,039		)	(46,271		)
Discount related to debt issuance costs	(5,880		)	(6,144		)
Net carrying amount	$	237,581		$	235,085

Equity component
Conversion feature	$	49,680		$	49,680
Debt issuance costs	(1,421		)	(1,421		)
Deferred taxes	(17,750		)	(17,750		)
Net amount recorded in additional paid-in capital	$	30,509		$	30,509

Interest Expense

Interest expense consisted of the following:



	Three months ended March 31,
	2016			2015
	(in thousands)
Senior Credit Facility:
Term Loan Facility coupon	$	9,666		$	10,932
Revolver	616			168
Amortization of discount and debt issuance costs	592			463
Total Senior Credit Facility	10,874			11,563
Notes:
Coupon	1,078			—
Amortization of conversion feature	2,232			—
Amortization of discount and debt issuance costs	275			—
Total Notes	3,585			—
Interest income and other	(16		)	(48		)
Interest expense, net	$	14,443		$	11,515