BANK BORROWINGS AND LONG TERM DEBT

Bank borrowings and long-term debt are as follows:



	As of December 31, 2016			As of March 31, 2016
	(In thousands)
Term Loan, including current portion, due in installments through March 2019	$	525,000		$	547,500
4.625% Notes due February 2020	500,000			500,000
Term Loan, including current portion, due in installments through November 2021	700,000			577,500
5.000% Notes due February 2023	500,000			500,000
4.75% Notes due June 2025	595,879			595,589
Other	62,448			71,317
Debt issuance costs	(16,487		)	(17,351		)
Total	$	2,866,840		$	2,774,555

The weighted-average interest rates for the Company’s long-term debt were 3.5% as of December 31, 2016 and March 31, 2016.

On August 30, 2013, the Company entered into a $600 million term loan agreement due August 30, 2018. On November 30, 2016, the Company entered into a new arrangement to extend the maturity date of the agreement from August 30, 2018 to November 30, 2021, and borrowed an incremental amount of $130 million under this term loan, thereby increasing the total amount under the term loan to $700 million. This loan is repayable in quarterly installments of $4.1 million, which will commence October 31, 2017 and continue through September 30, 2021, with the remaining amount due at maturity.

Borrowings under this term loan bear interest, at the Company's option, either at (i) LIBOR plus the applicable margin for LIBOR loans ranging between 1.125% and 2.125%, based on the Company's credit ratings or (ii) the base rate (the greatest of the prime rate in effect on each day as published in The Wall Street Journal, the federal funds rate plus 0.5% and LIBOR for a one-month interest period plus 1.00%) plus an applicable margin ranging between 0.125% and 1.125%, based on the Company's credit rating.

This term loan is unsecured, and contains customary restrictions on the Company's and its subsidiaries' ability to (i) incur certain debt, (ii) make certain investments, (iii) make certain acquisitions of other entities, (iv) incur liens, (v) dispose of assets, (vi) make non-cash distributions to shareholders, and (vii) engage in transactions with affiliates. These covenants are subject to a number of exceptions and limitations. This term loan agreement also requires that the Company maintain a maximum ratio of total indebtedness to EBITDA (earnings before interest expense, taxes, depreciation and amortization), and a minimum interest coverage ratio, as defined therein, during its term; provided that the requirement to maintain the minimum interest coverage ratio may be suspended in certain circumstances. As of December 31, 2016, the Company was in compliance with the covenants under this term loan agreement.

Repayment of the Company’s long term debt outstanding as of December 31, 2016 is as follows:



Fiscal Year Ending March 31,	Amount
	(In thousands)
2017 (1)	$	11,579
2018	58,504
2019	486,317
2020	517,567
2021	64,648
Thereafter	1,744,712
Total	$	2,883,327

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(1)	Represents scheduled repayment for the remaining three-month period ending March 31, 2017.

On January 23, 2017, the Company entered into a €100 million (approximately $105.4 million as of December 31, 2016), 5-year, unsecured, term-loan agreement due January 2, 2022.