The Company’s long-term debt consisted of the following as of July 31, 2020 and April 30, 2020:

(1)	Net of unamortized discount of $1,522 and $1,602 as of July 31, 2020 and April 30, 2020, respectively.

(2)	Net of deferred financing costs of $8,548 and $9,000 as of July 31, 2020 and April 30, 2020, respectively.

(3)	Net of unamortized discount of $1,010 and $1,098 as of July 31, 2020 and April 30, 2020, respectively.

Term Loan Facility

The Company has a senior secured first lien term loan facility (the “Term Loan Facility”) with aggregate principal amount of $874.4 million outstanding as of July 31, 2020. The Term Loan Facility amortized in nominal quarterly installments of $2.5 million, or 0.25% of the aggregate principal amount of the Term Loan Facility, and is due in June 2025. The Term Loan Facility bears interest at a floating rate based on LIBOR plus 2.75%, with a 0% floor. As of July 31, 2020, the applicable rate of interest was 2.91%.

Asset Based Lending Facility

The Company has an asset based revolving credit facility (the “ABL Facility”) that provides for aggregate revolving commitments of $445.0 million (including same day swing line borrowings of $44.5 million). Extensions of credit under the ABL Facility are limited by a borrowing base calculated periodically based on specified percentages of the value of eligible inventory and eligible accounts receivable, subject to certain reserves and other adjustments.

At the Company’s option, the interest rates applicable to the loans under the ABL Facility are based at LIBOR or base rate plus, in each case, an applicable margin. The margins applicable for each elected interest rate are subject to a pricing grid, as defined in the ABL Facility agreement, based on average daily availability for the most recent fiscal quarter. As of July 31, 2020, the applicable rate of interest was 1.43%. The ABL Facility also contains an unused commitment fee subject to utilization, as included in the ABL Facility agreement.

During the three months ended July 31, 2020, the Company made net repayments under the ABL Facility of $40.0 million. As of July 31, 2020, the Company had available borrowing capacity of approximately $353.9 million under the ABL Facility. The ABL Facility will mature on September 30, 2024 unless the individual affected lenders agree to extend the maturity of their respective loans under the ABL Facility upon the Company’s request and without the consent of any other lender. The ABL Facility contains a cross default provision with the Term Loan Facility.

Covenants under the Term Loan Facility and ABL Facility

The Term Loan Facility contains a number of covenants that limit our ability and the ability of our restricted subsidiaries, as described in the respective credit agreement, to: incur more indebtedness; pay dividends, redeem or repurchase stock or make other distributions; make investments; create restrictions on the ability of our restricted subsidiaries to pay dividends to us or make other intercompany transfers; create liens securing indebtedness; transfer or sell assets; merge or consolidate; enter into certain transactions with our affiliates; and prepay or amend the terms of certain indebtedness. The Company was in compliance with all restrictive covenants as of July 31, 2020.

The ABL Facility contains certain affirmative covenants, including financial and other reporting requirements. The Company was in compliance with all such covenants as of July 31, 2020.

Canadian Revolving Credit Facility

Through its WSB Titan (“Titan”) subsidiary, the Company has a revolving credit facility (the “Canadian Facility”) that provides for aggregate revolving commitments of $22.4 million ($30.0 million Canadian dollars). The Canadian Facility bears interest at the Canadian prime rate plus a marginal rate based on the level determined by Titan’s total debt to EBITDA ratio at the end of the most recently completed fiscal quarter or year. During the three months ended July 31, 2020, the Company made net repayments under the Canadian Facility of $3.7 million. As of July 31, 2020, the Company had available borrowing capacity of approximately $18.6 million under the Canadian Facility. The Canadian Facility matures on June 28, 2022.

Debt Maturities

As of July 31, 2020, the maturities of long-term debt were as follows


	Term Loan			ABL	Finance		Installment		Canadian
	Facility(1)			Facility	Leases		Notes(2)		Facility		Total

Year ending April 30,	(in thousands)
2021 (remaining nine months)	$	7,476	$	—	$	26,825	$	2,791	$	—	$	37,092
2022		9,968		—		33,108		4,438		—		47,514
2023		9,968		—		27,769		4,404		3,727		45,868
2024		9,968		—		20,708		1,781		—		32,457
2025		9,968		40,000		10,819		734		—		61,521
Thereafter		827,062		—		4,089		—		—		831,151
	$	874,410	$	40,000	$	123,318	$	14,148	$	3,727	$	1,055,603

(1)	Gross of unamortized discount of $1,522 and deferred financing costs of $8,548 as of July 31, 2020.

(2)	Gross of unamortized discount of $1,010 as of July 31, 2020.