Note 10. Long-Term Debt

Long-term debt, net consisted of the following:


	June 30,		June 30,
(In thousands)	2019		2018
Term Loan A due 2020; 7.40% as of June 30, 2019	$	153,933	$	227,276
Unamortized discount and other debt issuance costs		(4,722)		(10,178)
Term Loan A, net		149,211		217,098
Term Loan B due 2022; 7.78% as of June 30, 2019		614,468		670,011
Unamortized discount and other debt issuance costs		(34,631)		(47,839)
Term Loan B, net		579,837		622,172
Revolving Credit Facility due 2020		—		—
Total debt, net		729,048		839,270
Less short-term borrowings and current portion of long-term debt		(66,845)		(66,845)
Total long-term debt, net	$	662,203	$	772,425

On December 10, 2018, the Company entered into an amendment to the Senior Secured Credit Facility and the Credit and Guaranty Agreement. Pursuant to the amendment, the Secured Net Leverage Ratio applicable to the financial leverage ratio covenant was increased from 3:25:1.00 to 4.25:1.00 as of December 31, 2019 and prior to September 30, 2020, and then to 4:00:1:00 as of September 30, 2020. In exchange, the Company agreed to include a minimum liquidity covenant of $75 million, a 25-basis point increase to the interest rate margin paid on the Term A Loans and pay a consent fee equal to 50 basis points, paid only to consenting lenders.

In Fiscal 2019, the Company completed the purchase of an aggregate $62.0 million principal amount of its Term Loans. The purchases comprised $45.8 million and $16.2 million of the Term A Loans and Term B Loans, respectively. As a result of the purchases, the Company recorded a loss on extinguishment of debt of $0.4 million on the Consolidated Statement of Operations.

Long-term debt amounts due, for the twelve month periods ending June 30 were as follows:


	Amounts Payable
(In thousands)	to Institutions
2020	$	66,845
2021		165,778
2022		39,345
2023		496,433
Total	$	768,401

The outstanding debt amount above is guaranteed by all of Lannett’s significant wholly-owned domestic subsidiaries and is collateralized by substantially all present and future assets of the Company.