5.DEBT

The Company’s non-current debt as of March 31, 2015 and June 30, 2014 consists of the following:

	As of		As of
	March 31, 2015		June 30, 2014
	Non-current		Non-current
	(Amounts in thousands)
Convertible notes due 2019, net	$	319,484	$	311,860
Total debt	$	319,484	$	311,860

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 nine months ended March 31, 2015, was $5.6 million and $16.5 million, respectively, compared to $5.4 million and $16.0 million for the three and nine months ended March 31, 2014, 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 $450 million revolving credit facility. As of March 31, 2015, the Company had no amounts outstanding under the revolving credit facility. As discussed in Note 6 to the notes to consolidated financial statements in the Company’s Fiscal 2014 10-K, the Company has financial covenants associated with its revolving credit facility. At March 31, 2015, the Company was in compliance with each financial covenant. Refer to Note 13 for an update to our revolving credit facility.