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DEBT
12 Months Ended
Jun. 30, 2021
DEBT  
DEBT

6. DEBT

The Company’s debt as of June 30, 2021 and 2020 consists of the following:

As of June 30, 2021

As of June 30, 2020

   

Principal

   

Debt Issuance Costs1

   

Total

   

Principal

   

Debt Issuance Costs

   

Total

(Amounts in thousands)

(Amounts in thousands)

Revolving credit facility

$

$

(3,443)

$

(3,443)

$

305,000

$

(4,561)

$

300,439

Total debt

$

$

(3,443)

$

(3,443)

$

305,000

$

(4,561)

$

300,439

(1)Included in Other assets on our consolidated balance sheets.

Revolving Credit Facility

As of June 30, 2021, we had no amounts outstanding under our revolving credit facility and $1 billion available. Interest expense recognized on the revolving credit facility for the fiscal years ended June 30, 2021, 2020 and 2019 was approximately $3.3 million, $7.0 million and $1.7 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, 2021.

On July 7, 2021, we entered into a fourth amendment to our revolving credit facility dated as of June 2, 2017. The amendment extends the maturity date from June 3, 2024, to July 7, 2026, adds provisions to provide for the eventual replacement of LIBOR and makes certain changes to the lenders under the agreement.

In August 2021, we borrowed $100 million under our revolving credit facility for business development activities and have $900 million available.

Royal Gold may repay any borrowings under the revolving credit facility at any time without premium or penalty.