| Borrowing Obligations and Applicable Margin for Borrowings |
As of June 30, 2021 and September 30, 2020, we had the following borrowing obligations (dollars in thousands): | | | | | | | | | | | | | June 30,
2021 | | September 30,
2020 | 5.625% Senior Notes due 2026, net of deferred issuance costs of $3.4 million and $3.9 million, respectively. Effective interest rate 5.625%. | $ | 496,610 | | | $ | 496,148 | | 1.000% Convertible Debentures due 2035, net of unamortized discount of $14.2 million and $64.8 million, respectively, and deferred issuance costs of $0.6 million and $2.9 million, respectively. Effective interest rate 5.622%. | 204,719 | | | 608,767 | | 1.250% Convertible Debentures due 2025, net of unamortized discount of $38.4 million and $45.2 million, respectively, and deferred issuance costs of $1.6 million and $1.9 million, respectively. Effective interest rate 5.578%. | 222,664 | | | 215,582 | | 1.500% Convertible Debentures due 2035, net of unamortized discount of $0.6 million and $10.4 million, respectively, and deferred issuance costs of $0.3 million as of September 30, 2020. Effective interest rate 5.394%. | 43,480 | | | 216,627 | | | Deferred issuance costs related to our Revolving Credit Facility | (1,945) | | | (451) | | | Total debt | 965,528 | | | 1,536,673 | | Less: current portion (a) | (470,863) | | | (432,209) | | | Total long-term debt | $ | 494,665 | | | $ | 1,104,464 | |
__________ (a) As of June 30, 2021, the holders have the right to convert all or any portion of the 1.25% 2025 Debentures, 1.5% 2035 Debentures, and 1.0% 2035 Debentures between July 1, 2021 and September 30, 2021. Additionally, the holders of the 1.5% 2035 Debentures will have the right to redeem the notes in November 2021. As a result, the net carrying amounts of the convertible debentures were included in current liabilities as of June 30, 2021.
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| Schedule of Maturities of Long-term Debt |
The following table summarizes the maturities of our borrowing obligations as of June 30, 2021 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | Fiscal Year | | Convertible Debentures (a) | | Senior Notes | | Total | | 2021 | | $ | 526,325 | | | $ | — | | | $ | 526,325 | | | 2022 | | — | | | — | | | — | | | 2023 | | — | | | — | | | — | | | 2024 | | — | | | — | | | — | | | 2025 | | — | | | — | | | — | | Thereafter | | — | | | 500,000 | | | 500,000 | | | Total before unamortized discount | | 526,325 | | | 500,000 | | | 1,026,325 | | | Less: unamortized discount and issuance costs | | (55,462) | | | (5,335) | | | (60,797) | | | Total debt | | $ | 470,863 | | | $ | 494,665 | | | $ | 965,528 | |
__________ (a) As more fully described below, as of June 30, 2021, the holders have the right to convert all or any portion of the 1.25% 2025 Debentures, 1.5% 2035 Debentures, and 1.0% 2035 Debentures between July 1, 2021 and September 30, 2021. Additionally, the holders of the 1.5% 2035 Debentures will have the right to redeem the notes in November 2021. As a result, these convertible debentures were treated as if they were due in fiscal year 2021.
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