Long-term debt consists of the following:


	June 30, 2023			September 30, 2022
Series B term loan	$	1,177.6		$	1,185.3
Receivables financing agreement		180.0			168.0
Revolving Credit Agreement		—			—
Financing costs, net		(9.4	)		(10.6	)
Total debt, net		1,348.2			1,342.7
Less: Current portion of long-term debt		12.0			12.0
Long-term debt, net	$	1,336.2		$	1,330.7

In connection with the KKR Acquisition, the Company and a group of financial institutions entered into a credit agreement (the “Credit Agreement”) dated December 18, 2013. The Credit Agreement consisted of seven-year $1,460.0 term loans (“First Lien Term Loans”) and a five-year $210.0 revolving credit facility. All amounts outstanding under the Credit Agreement were collateralized by substantially all of the assets of the Company.

On April 22, 2022, the Company, entered into Amendment No. 6 to the Credit Agreement (the “Amendment Agreement”). Under the terms of the Amendment Agreement, the existing Credit Agreement was amended to provide for: (i) a $1,200.0 seven-year term loan (the “Series B Term Loan”) and (ii) a $300.0 five-year revolving credit facility (the “Revolving Credit Facility”). The Series B Term Loan matures on April 22, 2029 and bears interest at a rate per annum of a secured overnight financing rate (“Term SOFR”), plus a margin of either 3.25% or 3.00% or a base rate (“ABR”) plus a margin of either 2.25% or 2.00%, subject to SOFR and ABR floors of 0.50% and 1.50%, respectively, with the margin on the Series B Term Loan determined based on the Company’s first lien net leverage ratio. The Company used the net proceeds from the Series B Term Loan to repay all amounts outstanding under the Credit Agreement as in effect prior to the Amendment Agreement. An original issue discount of $12.0 was incurred when the Series B Term Loan was issued and is being amortized using the effective interest method over the life of the debt, resulting in an effective yield of 3.42%. Debt repayments for the Series B Term Loan totaled $9.0 and $1,003.3 for the nine months ended June 30, 2023 and 2022, respectively.

The Company has a five-year $300.0 revolving credit facility (the “Revolving Credit Facility”) that matures on April 22, 2027 and bears interest at a rate per annum of Term SOFR plus a margin ranging from 2.00% to 2.50% or ABR plus a margin ranging from 1.00 to 1.50%, subject to SOFR and ABR floors of 0.00% and 1.00%, respectively, with the margin on the Revolving Credit Facility determined based on the Company’s first lien net leverage ratio. The Revolving Credit Facility replaced the previous $260.0 revolving credit facility under the Credit Agreement as in effect prior to the Amendment Agreement. During the nine months ended June 30, 2023 the Company borrowed and repaid $33.5 against the capacity. There were $165.0 borrowings under the facility for the nine months ended June 30, 2022 of which, $165.0 were repaid during the same period.

On April 28, 2017, the Company, through a wholly-owned subsidiary, entered into a receivables financing agreement (the “Receivables Financing Agreement”). On June 22, 2022, the Company entered into the Third Amendment to the Receivables Financing Agreement (the "Third Amendment") which extended the term through June 22, 2025 and increased the borrowing capacity to $275.0. All amounts outstanding under the Receivables Financing Agreement are collateralized by substantially all of the accounts receivable and unbilled revenue of the Company. During the nine months ended June 30, 2023 the Company borrowed $460.0 against the capacity and voluntarily repaid $448.0. During the nine months ended June 30, 2022 the Company borrowed $224.0 against the capacity and voluntarily repaid $203.0.

The following are the scheduled maturities of long-term debt for the remainder of fiscal 2023 and the following four fiscal years and thereafter, which do not include any estimated excess cash flow payments:


2023	$	3.0
2024		12.0
2025		192.0
2026		12.0
2027 and thereafter		1,149.0
Total long-term debt		1,368.0
Less: Current maturities		12.0
Less: Original issue discount		10.4
Less: Financing costs		9.4
Total long-term debt, net	$	1,336.2

The Company has estimated the fair value of its long-term debt to be approximately $1,353.2 and $1,317.1 as of June 30, 2023 and September 30, 2022, respectively. Fair value is based on market bid prices around period-end (Level 2 inputs).