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Debt
 3 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Debt Debt
Long‑term debt consists of the following:
December 31,
2020		September 30,
2020
First Lien Term Loan, due December 20, 2024$816,907 $819,276 
Revolving Credit Facility— — 
Equipment Financing, due February 28, 2021 to July 5, 2029, interest rates ranging from 3.25% to 8.07% (1)
70,085 63,918 
Notes Payable, due July 31, 2023560 611 
Mortgage (2)— 1,665 
Total debt887,552 885,470 
Less unamortized deferred financing fees(8,911)(9,436)
Total net debt878,641 876,034 
Less current portion(18,426)(14,339)
Total long‑term debt$860,215 $861,695 
(1)On December 30, 2020, the Company completed $3,905 of equipment financings due December 30, 2027 at a fixed interest rate of 3.73%. On December 31, 2020, the Company completed $3,899 of equipment financings due February 28, 2021 at a fixed interest rate of 3.25%.
(2)During the three months ended December 31, 2020, the Company paid off the outstanding balance of the mortgage due June 30, 2028.
Term Facilities and Revolving Credit Facility
On January 15, 2014, EWT III entered into a First Lien Credit Agreement (as modified, amended or supplemented from time to time, the “Credit Agreement”) and a Second Lien Credit Agreement among EWT III, EWT Holdings II Corp., the lenders party thereto and Credit Suisse AG as administrative agent and collateral agent. The term loans outstanding under the Second Lien Credit Agreement were prepaid on October 28, 2016. The Credit Agreement also makes available to the Company a revolving credit facility (the “Revolver”) of up to $125,000, with a letter of credit sublimit of up to $45,000. The term loans outstanding under the Credit Agreement (the “First Lien Term Loan”) mature on December 20, 2024, and the Revolver matures on December 20, 2022.
The Company makes quarterly principal payments of $2,369. At December 31, 2020, the interest rate on borrowings was 2.65%, comprised of 0.15% LIBOR plus the 2.50% spread.
Deferred financing fees related to the First Lien Term Loan were included as a contra liability to debt on the Consolidated Balance Sheets as follows:
December 31,
2020		September 30,
2020
Current portion of deferred financing fees (1)$(2,130)$(2,112)
Long-term portion of deferred financing fees (2)(6,781)(7,324)
Total deferred financing fees$(8,911)$(9,436)
(1)Included in Current portion of debt, net of deferred financing fees on the Consolidated Balance Sheets.
(2)Included in Long-term debt, net of deferred financing fees on the Consolidated Balance Sheets.
Amortization of deferred financing fees included in interest expense were $526 and $515 for the three months ended December 31, 2020 and 2019, respectively.
The following summarizes the Company’s outstanding borrowings under the Revolver and outstanding letters of credit as of December 31, 2020 and September 30, 2020, respectively.
December 31,
2020		September 30,
2020
Borrowing availability under the Revolver$125,000 $125,000 
Outstanding borrowings under the Revolver— — 
Outstanding letters of credit under the Revolver11,824 12,963 
Unused amounts under the Revolver$113,176 $112,037 
Additional letters of credit under a separate arrangement$33 $52 
The Credit Agreement contains limitations on incremental borrowings, is subject to leverage ratios and allows for optional prepayments. Under certain circumstances, the Company may be required to remit excess cash flows as defined based upon exceeding certain leverage ratios. The Company did not exceed such ratios during the three months ended December 31, 2020, does not anticipate exceeding such ratios during the year ending September 30, 2021, and therefore does not anticipate any additional repayments during the year ending September 30, 2021.
Repayment Schedule
Aggregate maturities of all long‑term debt, including current portion of long‑term debt and excluding finance lease obligations as of December 31, 2020, are presented below:
Fiscal Year
Remainder of 2021$16,440 
202217,002 
202317,295 
2024797,133 
20257,754 
Thereafter
31,928 
Total
$887,552