DEBT

12 Months Ended

Jun. 30, 2020

DEBT

DEBT

6. DEBT

The Company’s debt as of June 30, 2020 and 2019 consists of the following:

	As of June 30, 2020						As of June 30, 2019
	Principal		Debt Issuance Costs		Total		Principal		Debt Issuance Costs		Total
		(Amounts in thousands)						(Amounts in thousands)
Revolving credit facility	$	305,000	$	(4,561)	$	300,439	$	220,000	$	(5,446)	$	214,554
Total debt	$	305,000	$	(4,561)	$	300,439	$	220,000	$	(5,446)	$	214,554

Revolving Credit Facility

On September 20, 2019, we entered into a third amendment to our revolving credit facility dated as of June 2, 2017. Under the amendment, our Swiss subsidiary RGLD Gold was added as a co-borrower and joint and several obligor, certain of the Company’s Canadian subsidiaries were added as guarantors, and certain equity pledges that previously had been granted in favor of the lenders to support the facility were released, with the result being the facility is now unsecured.

As of June 30, 2020, we had $305 million outstanding and $695 million available under our revolving credit facility. As of June 30, 2020, the interest rate on borrowings under the revolving credit facility was LIBOR plus 1.10% for an all-in rate of 1.29%. Interest expense recognized on the revolving credit facility for the fiscal years ended June 30, 2020, 2019 and 2018 was approximately $7.0 million, $1.7 million and $5.7 million, respectively, and included interest on the outstanding borrowings and the amortization of the debt issuance costs. We were in compliance with each financial covenant (leverage ratio and interest coverage ratio) under the revolving credit facility as of June 30, 2020.

Royal Gold may repay any borrowings under the revolving credit facility at any time without premium or penalty. The Company’s revolving credit facility matures on June 3, 2024.