Debt

A summary of debt is as follows (amounts in thousands):



	June 30, 2016		March 31, 2016
10.5% Senior Notes, net (1)	$	352,087	$	353,952
Revolving line of credit	33,881		33,881
Total debt	385,968		387,833
Current maturities	—		(2,000		)
Total long-term debt	$	385,968	$	385,833

(1) As noted in Note 1, "Basis of Financial Statements Presentation", ASU No. 2015-03, Interest - Imputation of Interest, was adopted as of April 1, 2016. As such, debt issuance cost, if any, is included within the respective debt balance. Amounts shown are net of premium and debt issuance costs of $0.9 million and $1.0 million as of June 30, 2016 and March 31, 2016, respectively which reduce the 10.5% Senior Notes balance.

The line item “Interest expense” on the Condensed Consolidated Statements of Operations for the quarters ended June 30, 2016 and 2015, consists of the following (amounts in thousands):



	Quarters Ended June 30,
	2016			2015
Contractual interest expense	$	9,710		$	9,746
Capitalized interest	(52		)	—
Amortization of debt issuance costs	348			348
Amortization of debt (premium) discount	(199		)	(181		)
Imputed interest on acquisition-related obligations	41			53
Interest expense on capital lease	75			47
Total interest expense	$	9,923		$	10,013

Revolving Line of Credit

On May 2, 2016, the Loan and Security Agreement dated September 30, 2010, as amended, by and among KEMET Electronics Corporation ("KEC"), KEMET Electronics Marketing (S) Pte. Ltd., KEMET Foil Manufacturing, LLC (“KEMET Foil”), KEMET Blue Powder Corporation (“KEMET Blue Powder”), The Forest Electric Company and the financial institutions party thereto (the “Loan and Security Agreement”), was amended and, as a result, the revolving credit facility has increased to $65.0 million. The Company had the following activity for the three-month period ended June 30, 2016 and resulting balances under the revolving line of credit (amounts in thousands, excluding percentages):



	March 31, 2016		Three-Month Period Ended June 30, 2016				June 30, 2016
	Outstanding Borrowings		Additional Borrowings		Repayments		Outstanding Borrowings		Rate (1) (2)		Due Date
U.S. Facility	$	19,881	$	—	$	—	$	19,881	4.750	%	December 19, 2019
Singapore Facility
Singapore Borrowing 1 (3)	12,000		—		—		12,000		3.250	%	August 22, 2016
Singapore Borrowing 2 (3)	2,000		—		—		2,000		3.250	%	October 11, 2016
Total Facilities	$	33,881	$	—	$	—	$	33,881

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(1) For U.S. borrowings, Base Rate plus 1.50%, as defined in the Loan and Security Agreement.

(2) For Singapore borrowings, London Interbank Offer Rate ("LIBOR"), plus a spread of 2.50% as of June 30, 2016.

(3) The Company has the intent and ability to extend the due date on the Singapore borrowings.

As of June 30, 2016, these were the only borrowings under the revolving line of credit, and the Company's available borrowing capacity under the Loan and Security Agreement was $31.1 million. The borrowing capacity has increased primarily due to a $5.0 million increase in the credit facility noted above.

10.5% Senior Notes

On May 10, 2016, the Company repurchased and retired $2.0 million of its 10.5% Senior Notes due May 1, 2018 (the "10.5% Senior Notes"). As of June 30, 2016 and March 31, 2016, the Company had outstanding $353.0 million and $355.0 million, respectively in aggregate principal amount of the Company’s 10.5% Senior Notes. The Company had interest payable related to the 10.5% Senior Notes included in the line item “Accrued expenses” on its Condensed Consolidated balance sheets of $6.2 million and $15.5 million as of June 30, 2016 and March 31, 2016, respectively.