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Long-Term Debt
6 Months Ended
Dec. 31, 2018
Long-Term Debt  
Long-Term Debt

Note 11.  Long-Term Debt 

Long-term debt, net consisted of the following:

 

 

 

 

 

 

 

 

 

    

December 31, 

    

June 30, 

(In thousands)  

    

2018

    

2018

Term Loan A due 2020; 7.52% as of December 31, 2018

 

$

213,526

 

$

227,276

Unamortized discount and other debt issuance costs

 

 

(8,843)

 

 

(10,178)

Term Loan A, net

 

 

204,683

 

 

217,098

Term Loan B due 2022; 7.90% as of December 31, 2018

 

 

650,338

 

 

670,011

Unamortized discount and other debt issuance costs

 

 

(41,569)

 

 

(47,839)

Term Loan B, net

 

 

608,769

 

 

622,172

Revolving Credit Facility due 2020

 

 

 —

 

 

 —

Total debt, net

 

 

813,452

 

 

839,270

Less short-term borrowings and current portion of long-term debt

 

 

(66,845)

 

 

(66,845)

Total long-term debt, net

 

$

746,607

 

$

772,425

 

On December 10, 2018, the Company entered into an amendment to the Senior Secured Credit Facility and the Credit and Guaranty Agreement.  Pursuant to the amendment, the Secured Net Leverage Ratio applicable to the financial leverage ratio covenant was increased from 3:25:1.00 to 4.25:1.00 as of December 31, 2019 and prior to September 30, 2020, and then to 4:00:1:00 as of September 30, 2020.  In exchange, the Company agreed to include a minimum liquidity covenant of $75 million, a 25-basis point increase to the interest rate margin paid on the Term A Loans and pay a consent fee equal to 50 basis points, paid only to consenting lenders.

 

Long-term debt amounts due, for the twelve-month periods ending December 31 are as follows:

 

 

 

 

 

 

    

Amounts Payable

(In thousands)  

    

to Institutions

2019

 

$

66,845

2020

 

 

225,371

2021

 

 

39,345

2022

 

 

532,303

Total

 

$

863,864