DEBT

A summary of long-term debt is as follows:



(In thousands)	June 30, 2015		September 30, 2014
6.5% Senior Notes due 2020 ("Senior Notes")	$	656,247	$	657,122
Revolving Credit Facility	1,060,000		1,085,000
Total long-term debt	$	1,716,247	$	1,742,122

Senior Notes

As of June 30, 2015, our Senior Notes had an aggregate principal amount of $650 million. Our Senior Notes are unsecured obligations and are not guaranteed by any of our subsidiaries. We received a premium of $8.5 million as part of the net proceeds for the Senior Notes issued. This premium is being amortized over the life of our Senior Notes.

Revolving Credit Facility

On March 5, 2015, we entered into an amendment to our senior secured credit facility (the "Credit Facility"), which, among other things, (i) extended the maturity with respect to $1.245 billion of the total $1.55 billion of commitments under the Credit Facility to May 2019 and (ii) amended the maximum leverage ratio upwards to 4.50:1.00 through December 31, 2017, after which period the maximum leverage ratio will revert back to 4.00:1.00 through maturity. Lenders holding commitments of approximately $305 million did not agree to the extension and those commitments mature in May 2018.

As of June 30, 2015, we had $1.06 billion of outstanding borrowings and $6.3 million of letters of credit issued under the Credit Facility. As of June 30, 2015, we had approximately $484 million available for borrowings under the Credit Facility. Borrowings under the Credit Facility bear interest at the Eurodollar rate plus a margin ranging from 1.75% to 2.00% and the commitment fee on the unused portion of the underlying commitment ranges from 0.30% to 0.40% per annum, in each case based on our corporate credit ratings. Obligations under the Credit Facility are secured primarily by first preferred mortgages on nine of our drilling units as well as liens on the equity interests of our subsidiaries that own, directly or indirectly, such drilling units. Our Credit Facility contains various financial covenants. At June 30, 2015, we were in compliance with those covenants.

The weighted-average effective interest rate on our revolving Credit Facility was approximately 2.0% per annum at June 30, 2015. The effective rate was determined after giving consideration to the effect of our interest rate swaps accounted for as hedges and the amortization of premiums or discount. Interest capitalized for the three and nine months ended June 30, 2015 was approximately $6 million and $15 million, respectively. Interest capitalized for the three and nine months ended June 30, 2014 was approximately $7 million and $23 million, respectively.