DEBT

6 Months Ended

Dec. 31, 2012

DEBT

DEBT

5.             DEBT

The Company’s non-current debt as of December 31, 2012 and June 30, 2012 consists of the following:

	As of		As of
	December 31, 2012		June 30, 2012
	Non-current		Non-current
	(Amounts in thousands)
Convertible notes due 2019, net	$	297,697	$	293,248
Total debt	$	297,697	$	293,248

Convertible Senior Notes Due 2019

In June 2012, the Company completed an offering of $370 million aggregate principal amount of 2.875% convertible senior notes due 2019 (“2019 Notes”).  The 2019 Notes bear interest at the rate of 2.875% per annum, and the Company is required to make semi-annual interest payments on the outstanding principal balance of the 2019 Notes on June 15 and December 15 of each year, beginning December 15, 2012. The 2019 Notes mature on June 15, 2019.  Interest expense recognized on the 2019 Notes for the three and six months ended December 31, 2012, was $5.2 million and $10.3 million, respectively, and included the contractual coupon interest, the accretion of the debt discount and amortization of the debt issuance costs.

Revolving credit facility

The Company maintains a $350 million revolving credit facility.  As of December 31, 2012, the Company had no amounts outstanding under the revolving credit facility.  As discussed in the Company’s Fiscal 2012 10-K, the Company has financial covenants associated with its revolving credit facility.  At December 31, 2012, the Company was in compliance with each financial covenant.