Note 4. Debt

Long-term debt comprises:

	December 31, 2015			March 31, 2015
Total debt	$	30,000		$	15,000
Less current portion		—			(4,500	)
Long-term debt	$	30,000		$	10,500
Deferred debt costs, net of amortization		(299	)		(428	)
Fair value of associated share warrant, net of amortization		(1,012	)		(219	)
	$	28,689		$	9,853

On August 3, 2015, the Company drew down $30,000 under a new secured credit facility agreement with MidCap Financial Trust. The facility is repayable over a four year period with no repayments until March 1, 2017 when the first of 30 equal monthly repayments is due. If the Company achieves CE Mark approvals for the MosaiQ^TM instrument and blood grouping consumable, the facility is repayable over a four year period with no repayments until September 1, 2017 when the first of 24 equal monthly repayments is due. The facility bears interest at LIBOR plus 6.7%. The LIBOR rate applicable is the higher of the actual market rate from time to time or 2.0%. Other expense for the nine month period ended December 31, 2015 included $0.6 million of previously deferred fees that were expensed as a result of the expansion of the credit facility.

At December 31, 2015, the outstanding debt is repayable as follows:

Within 1 year	$	—
Between 1 and 2 years		10,000
Between 2 and 3 years		12,000
Between 3 and 4 years		8,000
Total debt	$	30,000