4. DEBT

The Company’s non-current debt as of March 31, 2019 and June 30, 2018 consists of the following:


	As of March 31, 2019								As of June 30, 2018
	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	$	(2,844)	$	(290)	$	366,866	$	370,000	$	(12,764)	$	(1,316)	$	355,920
Revolving credit facility		—		—		(3,951)		(3,951)		—		—		(4,893)		(4,893)
Total debt	$	370,000	$	(2,844)	$	(4,241)	$	362,915	$	370,000	$	(12,764)	$	(6,209)	$	351,027

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, and the Company will settle the principal amounts of each 2019 Note in cash and settle any excess conversion value in shares of the Company, plus cash in lieu of fractional shares. 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 March 31 2019 and June 30, 2018.

Interest expense recognized on the 2019 Notes for the three and nine months ended March 31, 2019 was $6.3 million and $18.9 million, respectively, compared to $6.1 million and $18.3 million, respectively, for the three and nine months ended March 31, 2018, 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 $1 billion revolving credit facility. As of March 31, 2019, the Company had no amounts outstanding and $1 billion available under the revolving credit facility. Amortization of debt issuance costs, included within interest expense, recognized on the revolving credit facility for the three and nine months ended March 31, 2019 was $0.3 million and $0.9 million. For the three and nine months ended March 31, 2018, interest expense included interest on the outstanding borrowings and the amortization of the debt issuance costs and was $1.3 million and $4.9 million, respectively. Royal Gold may repay any borrowings under the revolving credit facility at any time without premium or penalty.

As discussed in Note 5 to the notes to consolidated financial statements in the Company’s Fiscal 2018 10-K, the Company has financial covenants associated with its revolving credit facility. As of March 31, 2019, the Company was in compliance with each financial covenant.