DEBT

3 Months Ended

Mar. 31, 2023

DEBT

DEBT

4.    DEBT

Our debt as of March 31, 2023 and December 31, 2022 consists of the following (amounts in thousands):

	As of March 31, 2023						As of December 31, 2022
	Principal		Debt Issuance Costs		Total		Principal		Debt Issuance Costs		Total
		(Amounts in thousands)						(Amounts in thousands)
Revolving credit facility	$	500,000	$	(3,183)	$	496,817	$	575,000	$	(3,428)	$	571,572
Total debt	$	500,000	$	(3,183)	$	496,817	$	575,000	$	(3,428)	$	571,572

Revolving credit facility

On March 6, 2023, we repaid $75 million of outstanding borrowings on our revolving credit facility.

As of March 31, 2023, we had $500 million outstanding and $500 million available under our revolving credit facility dated June 2, 2017, and as amended. The interest rate on borrowings under our revolving credit facility as of March 31, 2023, was LIBOR plus 1.20% for an all-in rate of 6.2%. Interest expense, which includes interest on outstanding borrowings and amortization of debt issuance costs, was $8.5 million and $0.2 million for the three months ended March 31, 2023 and 2022, respectively. We were in compliance with each financial covenant (leverage ratio and interest coverage ratio) under our revolving credit facility as of March 31, 2023.

We may repay any borrowings under our revolving credit facility at any time without premium or penalty.