DEBT

3 Months Ended

Sep. 30, 2021

DEBT

DEBT

5.    DEBT

Our debt as of September 30, 2021, and June 30, 2021, consists of the following:

	As of September 30, 2021						As of June 30, 2021
	Principal		Debt Issuance Costs		Total		Principal		Debt Issuance Costs1		Total
		(Amounts in thousands)						(Amounts in thousands)
Revolving credit facility	$	100,000	$	(4,597)	$	95,403	$	—	$	(3,443)	$	(3,443)
Total debt	$	100,000	$	(4,597)	$	95,403	$	—	$	(3,443)	$	(3,443)

⁽¹⁾ Included in Other assets on our consolidated balance sheets.

Revolving credit facility

As of September 30, 2021, we had $100 million outstanding and $900 million available under our revolving credit facility. The interest rate on borrowings under our revolving credit facility as of September 30, 2021, was LIBOR plus 1.10% for an all-in rate of 1.21%. Interest expense recognized on the revolving credit facility for the three months ended September 30, 2021, and 2020, was approximately $1.0 million and $1.3 million, respectively, and included interest on the outstanding borrowings and the amortization of the debt issuance costs. We were in compliance with each financial covenant (leverage ratio and interest coverage ratio) under the revolving credit facility as of September 30, 2021.

On July 7, 2021, we entered into a fourth amendment to our revolving credit facility dated June 2, 2017. The amendment extends the maturity date from June 3, 2024, to July 7, 2026, adds provisions to provide for the eventual replacement of LIBOR and makes certain changes to the lenders under the agreement.

On October 8, 2021, we repaid $50 million of the outstanding borrowings under our revolving credit facility. This increased the amount available under our revolving credit facility to $950 million and decreased the amount outstanding to $50 million.

Royal Gold may repay any borrowings under the revolving credit facility at any time without premium or penalty.