FINANCING ARRANGEMENTS:

6 Months Ended

Dec. 31, 2015


8.	FINANCING ARRANGEMENTS:

The Company’s long-term debt consists of the following:



			Amounts outstanding
	Maturity Dates	Interest Rate	December 31, 2015		June 30, 2015
	(fiscal year)		(Dollars in thousands)
Convertible senior notes	2015	5.00%	$	—	$	—
Senior term notes - 5.75%	2018	5.75	—		120,000
Senior term notes - 5.50%	2020	5.50	120,060		—
Revolving credit facility	2018	—	—		—
Equipment and leasehold notes payable	2015 - 2016	4.90 - 8.75	—		2
			120,060		120,002
Less current portion			—		(2		)
Long-term portion			$	120,060	$	120,000

Convertible Senior Notes

In July 2014, the Company settled its $172.5 million 5.0% convertible senior notes in cash. The notes were unsecured, senior obligations of the Company and interest was payable semi-annually in arrears on January 15 and July 15 of each year. Interest expense related to the 5.0% contractual interest coupon and amortization of the debt discount was $0.4 and $0.3 million for the six months ended December 31, 2014, respectively.

Senior Term Notes

In December 2015, the Company exchanged its $120.0 million 5.75% senior notes due December 2017 for $123.0 million 5.5% senior notes due December 2019 (Senior Term Notes). The Senior Term Notes were issued at a $3.0 million discount which will be amortized to interest expense over the term of the notes. The Company accounted for this non-cash exchange as a debt modification, as it was with the same lenders and the changes in terms were not considered substantial. Interest on the Senior Term Notes is payable semi-annually in arrears on June 1 and December 1 of each year. The Senior Term Notes are unsecured and not guaranteed by any of the Company’s subsidiaries or any third parties.

The following table contains details related to the Company's Senior Term Notes:



	December 31, 2015
	(Dollars in thousands)
Principal amount on the Senior Term Notes	$	123,000
Unamortized debt discount	(2,940		)
Net carrying amount of Senior Term Notes	$	120,060

Revolving Credit Facility

As of December 31, 2015 and June 30, 2015, the Company had no outstanding borrowings under this facility. Additionally, the Company had outstanding standby letters of credit under the facility of $1.6 and $2.1 million at December 31, 2015 and June 30, 2015, respectively, primarily related to the Company's self-insurance program. Unused available credit under the facility at December 31, 2015 and June 30, 2015 was $398.4 and $397.9 million, respectively.

In January 2016, the Company amended its $400.0 million revolving credit facility primarily reducing the borrowing capacity from $400.0 to $200.0 million. Unused available credit under the facility at January 28, 2016 was $198.4 million.

The Company was in compliance with all covenants and requirements of its financing arrangements as of and during the three months ended December 31, 2015.