CREDIT FACILITIES (Tables)

12 Months Ended

Sep. 30, 2018

A summary of borrowings at period end is as follows:



	Fixed/			September 30, 2018					September 30, 2017
	Variable						Interest					Interest
Debt	Rate	Date		Balance			Rate		Balance			Rate
(in thousands)
M&T credit facilities:
Revolving Credit Facility	v	5/5/2022		$	12,996		5.26	%	$	8,769		3.73	%
Term Loan B	v	5/5/2022		3,636			5.36		5,714			3.99
Celmet Building Term Loan	f	11/7/2018	¹	—			—		802			4.72
Equipment Line Advances	v	12/18/2018		314			5.56		—			—
Equipment Line Term Note	v	Various	²	794			5.56		—			—
Total debt, gross				17,740					15,285
Unamortized debt issuance costs				(289		)			(275		)
Total debt, net				17,451					15,010
Less: current portion				(1,449		)			(987		)
Long-term debt				$	16,002				$	14,023

¹The Celmet Building Term Loan was repaid in connection with the sale-leaseback transaction described in Note 12—Capital Lease. Proceeds from the transaction were also used to pay down a portion of Term Loan B.

² On July 26, 2018 and September 27, 2018, $750 thousand and $86 thousand, respectively, of Equipment Line Advances matured and were converted to an Equipment Line Term Note.

Schedule of Debt Covenant

Schedule of Maturities of Long-term Debt

A summary of contractual principal payments under IEC’s borrowings at September 30, 2018 for the next four years taking into consideration the Credit Facility, as amended, is as follows:



Debt Repayment Schedule		Contractual Principal Payments
(in thousands)
Twelve months ended September 30,
2019		$	1,449
2020		1,136
2021		1,094
2022	⁽¹⁾	14,061
		$	17,740

⁽¹⁾ Includes Revolver balance of $13.0 million at September 30, 2018, maturing on May 5, 2022.