	September 30, 2020			September 30, 2019
Series B term loan	$	1,011.8		$	1,021.7
Revolving credit facility		—			—
Receivables financing agreement		140.0			140.0
Insurance policy		1.9			—
Financing costs, net		(13.9	)		(17.1	)
Total debt, net		1,139.8			1,144.6
Less: Current portion of long-term debt		12.3			10.4
Long-term debt, net	$	1,127.5		$	1,134.2

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. An original discount of $3.7 was incurred when the First Lien Term Loans were issued and was amortized using the effective interest method over the life of the debt, resulting in an effective yield of 4.0%. All amounts outstanding under the First Lien Term Loans were collateralized by substantially all of the assets of the Company. Debt repayments for First Lien Term Loans totaled $347.1 for the year ended September 30, 2018 and consisted of $11.0 in contractual repayments per the Credit Agreement and $336.1 in voluntary repayments in connection with the IPO. As a result of the repayment of the First Lien Term Loans, the Company recorded a loss on debt extinguishment during the year ended September 30, 2018 of $19.3 due to accelerated amortization of deferred financing fees and original issue discount included in the “Other (expense) income” line of the Consolidated Statements of Operations.

On August 15, 2018, the Company entered into Amendment No. 5 to the Credit Agreement (the “Amended Credit Agreement”), which amends the Credit Agreement. Under the terms of the Amended Credit Agreement, the Credit Agreement was amended to provide for: (i) a $1,037.0 seven-year term loan (the “Series B Term Loan”) and (ii) a $260.0 five-year revolving credit facility. The Series B Term Loan matures on August 15, 2025 and bears interest at a rate per annum of LIBOR, plus 2.5%. The Company used the net proceeds from the Series B Term Loan to repay all amounts outstanding under the Company’s First Lien Term Loans. An original discount of $2.8 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 2.5%. Debt repayments for the Series B Term Loan consisted of contractual payments per the Credit Agreement and totaled $10.4 for the fiscal year ended September 30, 2020.

In addition to scheduled payments, the Company is obligated to pay a percentage of excess cash flow, as defined in the Amended Credit Agreement, as accelerated principal payments. The percentage varies with the ratio of the Company’s debt to its cash flow. The excess cash flow calculation did not result in any accelerated payment due for the periods ended September 30, 2020, September 30, 2019, and September 30, 2018.

The Amended Credit Agreement restricts the Company’s ability to, among other things, incur additional indebtedness, create liens, enter into acquisitions, dispose of assets, enter into consolidations and mergers and make distributions to its Parent without the approval of the lenders. In certain circumstances, under the Amended Credit Agreement, the Company is prohibited from making certain restricted payments, including dividends or distributions to its stockholders, subject to certain exceptions set forth in that agreement (including an exception for the making of such restricted payments up to an agreed limit, which limit is determined by a formula that takes into account consolidated net income, net cash proceeds and other amounts, in each case as described in greater detail in that agreement). The Amended Credit Agreement imposes financial covenants upon the Company with respect to leverage and interest coverage under certain circumstances. The Amended Credit Agreement contains provisions permitting the bank to accelerate the repayment of the outstanding debt under this agreement upon the occurrence of an Event of Default, as defined in the Amended Credit Agreement, including a material adverse change in the financial condition of the Company since the date of issuance of the Amended Credit Agreement.

The interest rate on the First Lien Term Loans was initially set at 3.0% over the prime rate of interest or is established for periods of up to six months at 3.0% over LIBOR at the Company’s option with a LIBOR floor of 1.0% (the “LIBOR floor”). The weighted average interest rate on the First Lien Term Loans was 4.7% and 4.1% for the years ended September 30, 2018 and September 30, 2017, respectively. The weighted average interest rate on the Series B Term Loan was 3.5% and 4.9% for the years ended September 30, 2020 and September 30, 2019. The Amended Credit Agreement debt repayments are due in quarterly installments of 0.25% of the principal balance less payments made under the aforementioned excess cash flow provision.

The Company has a five-year $260.0 revolving credit facility (the “Revolving Credit Facility”) that matures on August 15, 2023 and bears interest at a rate per annum of LIBOR plus a margin ranging from 2.50% to 2.00%, with the margin determined based on the Company’s first lien net leverage ratio. The Revolving Credit Facility replaces the previous $210.0 revolving credit facility under the Credit Agreement. The Company had no outstanding balance under either facility as of September 30, 2020 and September 30, 2019. There is a quarterly commitment fee equal to either 1⁄2 of 1% or 3/8 of 1% of the unused balance of the Revolving Credit Facility depending on the Company’s leverage ratio. The Company had $78.0 and $94.1 of letters of credits issued and outstanding as of September 30, 2020 and September 30, 2019, respectively. The interest rates on the Revolving Credit Facility and previous revolving credit facility were 2.3%, 2.5% and 2.5% for the year ended September 30, 2020, the year ended September 30, 2019 and the year ended September 30, 2018, respectively.

During the fiscal year ended September 30, 2020, the Company borrowed and fully repaid $70.0 against the Revolving Credit Facility.

On April 28, 2017, the Company, through a wholly-owned subsidiary, entered into a receivables financing agreement (the “Receivables Financing Agreement”). The Receivables Financing Agreement provides a borrowing capacity of $175.0 through April 27, 2020. On February 21, 2019, the Company entered into the First Amendment to the Receivables Financing Agreement (the “Amendment Agreement”) which increased the borrowing capacity to $200.0 and extended the term through February 20, 2022. All amounts outstanding under the Receivables Financing Agreement are collateralized by substantially all of the Accounts receivables and Unbilled revenue of the Company. During the year ended September 30, 2020, the Company borrowed $80.0 of its borrowing capacity and voluntarily repaid $80.0 under the Receivables Financing Agreement. During the year ended September 30, 2019, the Company borrowed $120.0 of its borrowing capacity and voluntarily repaid $120.0.

The interest rate on the amounts borrowed under the Receivables Financing Agreement is established for periods of up to six months at 2.0% over LIBOR at the Company’s option, and a commitment fee equal to 0.5% of the unused balance of the facility. The weighted average interest rate on the amounts borrowed under the Receivables Financing Agreement was 2.7% and 4.4% for the years ended September 30, 2020 and September 30, 2019, respectively.

The following are the scheduled maturities of long term debt, which do not include any estimated excess cash flow payments:

	September 30,
2021	$	12.3
2022		150.4
2023		10.4
2024		10.4
2025 and thereafter		972.1
Total long term debt	$	1,155.6
Less: Current maturities		12.3
Less: Original issue discount		1.9
Less: Financing costs		13.9
Total long term debt, net	$	1,127.5

The Company has estimated the fair value of its long-term debt to be approximately $1,143.5 and $1,166.6 as of September 30, 2020 and September 30, 2019, respectively. Fair value is based on market bid prices around period-end (Level 2 inputs).