DEBT

Debt as of September 30 and March 31, 2013 consisted of the following (in thousands):



	September 30, 2013			March 31, 2013
6¼% Senior Notes due 2022	$	450,000		$	450,000
Term Loan	228,107			230,625
3% Convertible Senior Notes due 2038, including $7.1 million and $8.8 million of unamortized discount, respectively	107,906			106,196
Revolving Credit Facility	45,000			—
Other	70			448
Total debt	831,083			787,269
Less short-term borrowings and current maturities of long-term debt	(6,989		)	(22,323		)
Total long-term debt	$	824,094		$	764,946

The balances of the debt and equity components of the 3% Convertible Senior Notes due 2038 (the “3% Convertible Senior Notes”) as of each period presented are as follows (in thousands):



	September 30, 2013			March 31, 2013
Equity component – net carrying value	$	14,905		$	14,905
Debt component:
Face amount due at maturity	$	115,000		$	115,000
Unamortized discount	(7,094		)	(8,804		)
Debt component – net carrying value	$	107,906		$	106,196

The remaining debt discount is being amortized into interest expense over the expected remaining life of the 3% Convertible Senior Notes to June 2015 (the first put date) using the effective interest rate. The effective interest rate for the three and six months ended September 30, 2013 and 2012 was 6.9%. Interest expense related to our 3% Convertible Senior Notes for the three and six months ended September 30, 2013 and 2012 was as follows (in thousands):



	Three Months Ended September 30,				Six Months Ended September 30,
	2013		2012		2013		2012
Contractual coupon interest	$	863	$	863	$	1,726	$	1,726
Amortization of debt discount	789		903		1,710		1,772
Total interest expense	$	1,652	$	1,766	$	3,436	$	3,498

On April 29, 2013, we entered into the third amendment to the revolving credit and term loan agreement (the “Third Amendment”). The Third Amendment (a) increased the commitments under the Revolving Credit Facility from $200 million to $350 million and (b) extended the maturity date of the Revolving Credit Facility and the five year, $250 million term loan (“Term Loan”) from December 2016 to April 2018. For further details on the Revolving Credit Facility and Term Loan, see Note 5 to the fiscal year 2013 Financial Statements. During the six months ended September 30, 2013, we had borrowed $157.5 million and made payments of $112.5 million under the Revolving Credit Facility. Additionally, we paid $2.3 million to reduce our borrowings under the Term Loan. As of September 30, 2013, we had $0.5 million in letters of credit outstanding under the Revolving Credit Facility.