Long Term and Other Debt

6 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Long Term and Other Debt

12. Long Term and Other Debt

2018 Refinancing 

On August 13, 2018, the Company and certain of its subsidiaries entered into a series of transactions that effected the refinancing of the external borrowings of the Company and its subsidiaries, replacing our senior term and revolving facilities with senior notes of $140.0 million and a revolving credit facility of £7.5 million. The senior notes, which were issued under a Note Purchase Agreement and Guaranty (the “Note Purchase Agreement”), have a 5-year duration and carry a cash interest rate of 9% plus 3-month LIBOR, and the revolving credit facility has a 3-year duration and carries a cash interest rate on any utilization at 4% plus 3-month LIBOR, with any unutilized amount carrying a 1.4% cash interest cost. In connection with the refinancing, we also entered into a 3-year, fixed-rate, cross-currency swap (see Note 13). For additional information regarding the 2018 refinancing and related agreements, see Note 12 in our 2018 10-K. 

Outstanding Debt and Capital Leases 

The following reflects outstanding debt and capital leases as of the dates indicated below: 

	Principal			Unamortized deferred financing charge			Book value, March 31, 2019
Senior bank debt	$	140,000			(8,096	)		131,904
Capital leases and hire purchase contract		275			—			275
Total long-term debt outstanding		140,275			(8,096	)		132,179
Less: current portion of long-term debt		(274	)		—			(274	)
Long-term debt, excluding current portion	$	140,001			(8,096	)		131,905

	Principal			Unamortized deferred financing charge			Book value, September 30, 2018
Senior bank debt	$	140,000		$	(8,775	)	$	131,225
Capital leases and hire purchase contract		543			—			543
Total long-term debt outstanding		140,543			(8,775	)	$	131,768
Less: current portion of long-term debt		(474	)		—			(474	)
Long-term debt, excluding current portion	$	140,069		$	(8,775	)	$	131,294

The Company is in compliance with all relevant financial covenants and the long term debt portion is correctly classified as such in line with the underlying agreements. 

Long term debt as of March 31, 2019 matures as follows: 

Fiscal period:	Senior bank debt		Capital leases and hire purchase contract		Total
2019	$	—	$	246	$	246
2020		—		29		29
2021		—		—		—
2022		—		—		—
2023		140,000		—		140,000
Total	$	140,000	$	275		140,275