DEBT

12 Months Ended

Dec. 31, 2023

DEBT

DEBT

5. DEBT

The Company’s debt for the years ended December 31, 2023 and 2022, consists of the following:

	As of December 31, 2023						As of December 31, 2022
	Principal		Debt Issuance Costs		Total		Principal		Debt Issuance Costs		Total
		(Amounts in thousands)						(Amounts in thousands)
Revolving credit facility	$	250,000	$	(4,033)	$	245,967	$	575,000	$	(3,428)	$	571,572
Total debt	$	250,000	$	(4,033)	$	245,967	$	575,000	$	(3,428)	$	571,572

Revolving Credit Facility

On March 6, June 6, September 6, and December 6, 2023, we repaid $75 million, $100 million, $75 million, and $75 million, respectively, on our revolving credit facility.

On June 28, 2023, we entered into a fifth amendment to our revolving credit facility dated as of June 2, 2017, as amended. The fifth amendment extended the scheduled maturity date from July 7, 2026 to June 28, 2028, replaced LIBOR with Secured Overnight Financing Rate (Term SOFR”) as a benchmark interest rate and made certain other administrative changes to the existing revolving credit facility.

As of December 31, 2023, we had $250 million of debt outstanding with an all-in rate interest rate on borrowings of 6.56% and $750 million available under our revolving credit facility. Interest expense recognized on the revolving credit facility for the years ended December 31, 2023 and 2022, six months ended December 31, 2021 and fiscal year ended June 30, 2021 was approximately $28.4 million, $10.0 million, $1.4 million and $3.3 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 December 31, 2023.

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