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Debt
3 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Debt

10.

DEBT

Long-term debt as of the periods presented consisted of the following:

 

 

 

June 30,

2019

 

 

March 31,

2019

 

 

 

(In thousands)

 

Revolving Credit Facility

 

$

156,200

 

 

$

134,400

 

Senior Notes payable

 

 

100,000

 

 

 

100,000

 

Equipment financing

 

 

2,195

 

 

 

2,427

 

Total

 

 

258,395

 

 

 

236,827

 

Unamortized debt issuance costs

 

 

(2,119

)

 

 

(2,293

)

Current maturities

 

 

(25,939

)

 

 

(25,932

)

Long-term debt obligation

 

$

230,337

 

 

$

208,602

 

Letters of credit outstanding at June 30, 2019 and March 31, 2019 amounted to $8.4 million and $8.5 million, respectively, and reduce the availability of the existing revolving credit facilities under the Company’s Second Amended and Restated Credit Agreement (the “PNC Credit Agreement”) with PNC Bank, National Association, as administrative agent and various financial institutions thereto.

In July 2019, the Company entered into a credit agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among the Company, as borrower, Barclays Bank PLC, as administrative agent, the several lenders from time to time party thereto, and Barclays Bank PLC and Morgan Stanley Senior Funding, Inc., as joint lead arrangers, joint bookrunners, syndication agents and documentation agents.

On the Closing Date, the Company borrowed under the Credit Agreement to repay the outstanding indebtedness under the PNC Credit Agreement. See “Note 15. Subsequent Events” for additional details on the Credit Agreement and the debt repayment.