LONG-TERM DEBT / INTEREST EXPENSE

Long-term debt consisted of the following:



	March 31, 2017			December 31, 2016
	(in thousands)
Term Loan Facility (net of $1.4 million and $1.6 million discount)	$	1,169,520		$	1,170,486
Revolving Credit Facility	100,000			127,000
Notes	247,924			245,273
Debt issuance costs	(2,062		)	(2,306		)
Total debt	1,515,382			1,540,453
Less: current maturities	(12,562		)	(12,562		)
Long-term debt	$	1,502,820		$	1,527,891

Senior Credit Facility

The Company maintains a $1.2 billion term loan facility that matures in March 2019 (the "Term Loan Facility") and a $300.0 million revolving credit facility that matures in September 2018 (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Credit Facility”).

At March 31, 2017 and December 31, 2016, the interest rate under the Term Loan Facility was 3.49% and 3.27%, respectively. The Revolving Credit Facility had a weighted average interest rate of 3.1% and 2.7% at March 31, 2017 and December 31, 2016, respectively. The Company is also required to pay an annual fee of 2.5% on outstanding letters of credit and an annual commitment fee of 0.5% on the undrawn portion of the Revolving Credit Facility.

At March 31, 2017, the Company had $194.3 million available under the Revolving Credit Facility, after giving effect to $100.0 million of borrowings outstanding and $5.7 million utilized to secure letters of credit. Based on the results for the year ended December 31, 2016, the ratio on the Company's Consolidated Net Senior Secured Leverage Ratio required an excess cash flow payment on the outstanding term loan debt. On April 10, 2017, the Company made the excess cash flow payment totaling $39.7 million, of which $28.2 million was paid with borrowings on the Revolving Credit Facility and $11.5 million was paid with cash on hand.

The Senior Credit Facility contains customary covenants, including incurrence covenants and certain other limitations on the ability of GNC Corporation, Centers, and Centers' subsidiaries to, among other things, make optional payments in respect of other debt instruments, pay dividends or other payments on capital stock and enter into arrangements that restrict their ability to pay dividends or grant liens. The Company is currently in compliance, and expects to remain in compliance over the next twelve months, with the terms of its Senior Credit Facility.

Convertible Debt

The Company maintains a $287.5 million principal amount of 1.5% convertible senior notes due in 2020 (the "Notes"). The Notes consist of the following components:



	March 31, 2017			December 31, 2016
	(in thousands)
Liability component
Principal	$	287,500		$	287,500
Conversion feature	(34,822		)	(37,179		)
Discount related to debt issuance costs	(4,754		)	(5,048		)
Net carrying amount	$	247,924		$	245,273

Interest Expense

Interest expense consisted of the following:



	Three months ended March 31,
	2017		2016
	(in thousands)
Senior Credit Facility:
Term Loan Facility coupon	$	9,518	$	9,666
Revolving Credit Facility	1,289		616
Amortization of discount and debt issuance costs	625		592
Total Senior Credit Facility	11,432		10,874
Notes:
Coupon	1,078		1,078
Amortization of conversion feature	2,357		2,232
Amortization of discount and debt issuance costs	306		275
Total Notes	3,741		3,585
Other	721		(16		)
Interest expense, net	$	15,894	$	14,443