FINANCING ARRANGEMENTS

The Company's long-term debt consists of the following:



		Interest rate %
		Fiscal Years		June 30,
	Maturity Dates	2018	2017	2018		2017
	(fiscal year)			(Dollars in thousands)
Revolving credit facility, new	2023	3.34%	—%	$	90,000	$	—
Revolving credit facility, old	N/A	—%	—%	—		—
Senior term notes	N/A	5.5%	5.5%	—		120,599
				$	90,000	$	120,599

The debt agreements contain covenants, including limitations on incurrence of debt, granting of liens, investments, merger or consolidation, certain restricted payments and transactions with affiliates. In addition, the Company must adhere to specified fixed charge coverage and leverage ratios. The Company was in compliance with all covenants and other requirements of our financing arrangements as of June 30, 2018.

Revolving Credit Facility

In March 2018, the Company entered into a Credit Agreement (Credit Agreement), which provides for a $260.0 million unsecured five-year revolving credit facility (Revolving Credit Facility) that expires in March 2023 and includes, among other things, a maximum consolidated net leverage ratio covenant, a minimum fixed charge coverage ratio covenant, and certain restrictions on liens, investments and other indebtedness. The Revolving Credit Facility includes a $30.0 million subfacility for the issuance of letters of credit and a $30.0 million sublimit for swingline loans. The Company may request an increase in revolving credit commitments under the facility of up to $150.0 million under certain circumstances. The revolving credit facility has variable interest rates tied to LIBOR plus 1.25% to 1.85% and includes a facility fee of 0.25% to 0.40%. Both the LIBOR credit spread and the facility fee are based on the Company's consolidated net leverage ratio.

In April 2018, the Company amended and restated the Credit Agreement which increased the Revolving Credit Facility under the Credit Agreement by $35.0 million. After giving effect to the amendment, the revolving commitment under the Credit Facility is $295.0 million.

As of June 30, 2018, the Company had $90.0 million of outstanding borrowings under the Revolving Credit Facility. At June 30, 2018, the Company has outstanding standby letters of credit under the Revolving Credit Facility of $1.5 million primarily related to the Company's self-insurance program, therefore, unused available credit under the facility was $203.5 million.

In connection with entering into the Credit Agreement, the Company terminated its previous $200.0 million revolving credit facility. As a result of terminating the $200.0 million revolving credit facility, the Company recognized $0.1 million of additional interest expense related to unamortized commitment fees during the fiscal year 2018. The Company previously had no outstanding borrowings under this revolving credit facility and outstanding letters of credit under the facility of $1.5 million, primarily related to the Company's self-insurance program, therefore the unused available credit under the facility at June 30, 2017 was $198.5 million.

Senior Term Notes

In March 2018, the Company redeemed all of its 5.5% senior term notes that were due December 2019 (Senior Term Notes) for $124.2 million, which included a $1.2 million premium. The Company utilized $90.0 million under the Revolving Credit Facility and cash on hand of $34.2 million to repay the Senior Term Notes. As a result of redeeming the Senior Term Notes, the Company recorded $1.7 million of additional interest expense related to the unamortized debt discount and debt issuance costs during the fiscal year 2018.

The following table contains details related to the Company's Senior Term Notes:



	June 30,
	2018		2017
	(Dollars in thousands)
Principal amount on the Senior Term Notes	$	—	$	123,000
Unamortized debt discount	—		(1,815		)
Unamortized debt issuance costs	—		(586		)
Senior Term Notes, net	$	—	$	120,599