5. DEBT

The Company’s debt as of June 30, 2018 and 2017 consists of the following:


	As of June 30, 2018								As of June 30, 2017
	Principal		Unamortized Discount		Debt Issuance Costs		Total		Principal		Unamortized Discount		Debt Issuance Costs		Total
		(Amounts in thousands)								(Amounts in thousands)
Convertible notes due 2019	$	370,000	$	(12,764)	$	(1,316)	$	355,920	$	370,000	$	(25,251)	$	(2,646)	$	342,103
Revolving credit facility		—		—		(4,893)		(4,893)		250,000		—		(5,933)		244,067
Total debt	$	370,000	$	(12,764)	$	(6,209)	$	351,027	$	620,000	$	(25,251)	$	(8,579)	$	586,170

Convertible Senior Notes Due 2019

In June 2012, the Company completed an offering of $370 million aggregate principal amount of 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. Generally, we classify debt that is maturing within one year as a current liability. However, the Company has the intent and ability to settle the principal amount of the 2019 Notes in cash primarily from its available revolving credit facility, a non-current liability, as of June 30, 2018.

Interest expense recognized on the 2019 Notes for the fiscal years ended June 30, 2018, 2017 and 2016 was approximately $24.5 million, $23.6 million and $22.8 million, respectively. Interest expense recognized includes the contractual coupon interest, the accretion of the debt discount and amortization of the debt issuance costs, and is recorded in Interest and other expense consolidated statements of operations and comprehensive (loss) income.

Revolving credit facility

The Company maintains a $1.0 billion revolving credit facility. As of June 30, 2018, the Company had no amounts outstanding and $1.0 billion available under the revolving credit facility. The Company had $250 million outstanding under the revolving credit facility as of June 30, 2017. Royal Gold may repay borrowings under the revolving credit facility at any time without premium or penalty.

The Company was in compliance with each financial covenant (leverage ratio and interest coverage ratio) under the revolving credit facility as of June 30, 2018. Interest expense recognized on the revolving credit facility for the fiscal years ended June 30, 2018, 2017 and 2016 was approximately $5.7 million, $9.9 million and $8.1 million, respectively, and included interest on the outstanding borrowings and the amortization of the debt issuance costs.