Debt (Tables)

12 Months Ended

Dec. 31, 2015

The carrying value and fair value of the Company's debt is as follows (in thousands):



	December 31, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash Convertible Senior Subordinated Notes	$	—	$	—	$	117,259	$	116,819
8.25% Senior Secured Notes	—		—		305,000		309,194
6.875% Senior Secured Notes	495,632		450,000		—		—
Total Debt	$	495,632	$	450,000	$	422,259	$	426,013

Debt Instrument Redemption

KCG may redeem all or a part of the 6.875% Senior Secured Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest and additional interest on the 6.875% Senior Secured Notes redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on March 15 of the years indicated below:



Year	Percentage
2017	103.438	%
2018	101.719	%
2019 and thereafter	100.000	%

Recorded Expenses with Respect to Long-term Debt

The Company recorded expenses with respect to its Debt as follows (in thousands):



	For the year ended December 31,
	2015		2014		2013
Interest expense	$	35,591	$	31,724	$	34,138
Debt extinguishment charges	25,006		9,552		13,209
Amortization of debt issuance cost	3,537		3,665		3,623
Commitment fee	1,506		1,575		792
Total	$	65,640	$	46,516	$	51,762