Note 6.

Debt

The components of debt were as follows ($000):

June 30,	2017			2016
Line of credit, interest at LIBOR, as defined, plus 1.5%	$	252,000		$	188,000
Term loan, interest at LIBOR, as defined, plus 1.5%		85,000			45,000
Yen denominated line of credit, interest at LIBOR, as defined, plus 0.625%		2,679			2,917
Note payable assumed in IPI acquisition		3,834			-
Total debt		343,513			235,917
Current portion of long-term debt		(20,000	)		(20,000	)
Unamortized debt issuance costs		(1,491	)		(610	)
Long-term debt, less current portion	$	322,022		$	215,307

On July 28, 2016, the Company amended and restated its existing credit agreement. The Third Amended and Restated Credit Agreement (the “Amended Credit Facility”) provides for a revolving credit facility of $325 million, as well as a $100 million term loan. The term loan is being repaid in consecutive quarterly principal payments on the first business day of each January, April, July and October, with the first payment having commenced on October 1, 2016, as follows: (i) twenty consecutive quarterly installments of $5 million and (ii) a final installment of all remaining principal due and payable on the maturity date of July 2021. Amounts borrowed under the revolving credit facility are due and payable on the maturity date. The Amended Credit Facility is unsecured, but is guaranteed by each existing and subsequently acquired or organized wholly-owned domestic subsidiary of the Company. The Company has the option to request an increase to the size of the revolving credit facility in an aggregate additional amount not to exceed $100 million. The Amended Credit Facility has a five-year term through July 28, 2021 and has an interest rate of either a Base Rate Option or a Euro-Rate Option, plus an Applicable Margin, as defined in the agreement governing the Amended Credit Facility. If the Base Rate option is selected for a borrowing, the Applicable Margin is 0.00% to 1.25% and if the Euro-Rate Option is selected for a borrowing, the Applicable Margin is 1.00% to 2.25%. The Applicable Margin is based on the Company’s ratio of consolidated indebtedness to consolidated EBITDA. Additionally, the Amended Credit Facility is subject to certain covenants, including those relating to minimum interest coverage and maximum leverage ratios. As of June 30, 2017, the Company was in compliance with all financial covenants under its Amended Credit Facility.

The Company’s Yen denominated line of credit is a 500 million Yen ($4.9 million) facility. The Yen line of credit matures August 2020. The interest rate equal to the Euro-Rate, as defined in the loan agreement, plus 1.00% to 2.25%. At June 30, 2017, the Company had 300 million yen outstanding under the line of credit. Additionally, the facility is subject to certain covenants, including those relating to minimum interest coverage and maximum leverage ratios. As of June 30, 2017, the Company had $2.7 million outstanding and was in compliance with all financial covenants under its Yen facility.

The Company had aggregate availability of $73.5 million and $37.7 million under its lines of credit as of June 30, 2017 and 2016, respectively. The amounts available under the Company’s lines of credit are reduced by outstanding letters of credit. As of June 30, 2017 and 2016, total outstanding letters of credit supported by the credit facilities were $1.3 million and $1.2 million, respectively.

The weighted-average interest rate of total borrowings for each of the years ended June 30, 2017 and 2016 was 2.2% and 1.6%, respectively. The weighted-average of total borrowings for the fiscal years ended June 30, 2017 and 2016 was $272.1 million and $193.7 million, respectively.

The Company has a line of credit facility with a Singapore bank which permits maximum borrowings in the local currency of approximately $0.6 million for the fiscal years ended June 30, 2017 and 2016, respectively. Borrowings are payable upon demand with interest charged at the rate of 1.00% above the bank’s prevailing prime lending rate. The interest rate was 5.25% at June 30, 2017 and June 30, 2016. At June 30, 2017 and 2016, there were no outstanding borrowings under this facility. The Company had $0.3 million and $0.2 million of letters of credit supported by the Singapore line of credit facility as of June 30, 2017 and 2016, respectively.

In conjunction with the acquisition of IPI, the Company assumed a non-interest bearing note payable owed to a major customer of IPI. The agreement if not terminated early by either party is payable in full in May 2019.

There are no interim maturities or minimum payment requirements related to the credit facilities before their respective expiration dates. Interest and commitment fees paid during the fiscal year ended June 30, 2017, 2016 and 2015 were $6.1 million, $3.1 million and $4.0 million, respectively.

Remaining annual principal payments under the Company’s existing credit facilities and note payable as of June 30, 2017 were as follows ($000):

					U.S.
					Dollar
	Term		Yen Line		Line of		Note
Period	Loan		of Credit		Credit		Payable		Total
Year 1	$	20,000	$	-	$	-	$	-	$	20,000
Year 2		20,000		-		-		3,834	$	23,834
Year 3		20,000		-					$	20,000
Year 4		20,000		2,679		-		-	$	22,679
Year 5		5,000		-		252,000		-	$	257,000
Thereafter		-		-		-		-	$	-
Total	$	85,000	$	2,679	$	252,000	$	3,834	$	343,513