Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT

v3.19.2
LONG-TERM DEBT
 9 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Long-term Debt [Text Block]
NOTE 4: LONG-TERM DEBT
The Company’s long-term debt consisted of the following (in thousands):
 
   
As of December 31,
2018
    
As of March 31,
2018
  
TCW Term Loan
   $ —       $ 90,424  
PNC Credit Facility
     6,433       33,107  
Senior Secured Term Loan
     150,000       —    
   
 
 
    
 
 
  
Total debt
     156,433       123,531  
Less: current portion
     (1,500 )      (7,500 ) 
Less: unamortized debt issuance costs
 
(1)
     (17,860 )      (45 ) 
   
 
 
    
 
 
  
Long-term debt, net
   $ 137,073     $ 115,986  
   
 
 
    
 
 
  
 
(1)
The unamortized debt issuance costs related to the Senior Secured Term Loan are presented as a reduction of the carrying amount of the corresponding debt balance on the accompanying condensed consolidated balance sheets. Unamortized debt issuance costs related to the PNC Credit Facility are presented within other assets on the accompanying condensed consolidated balance sheets.
As of December 31, 2018, the interest rates on the Senior Secured Term Loan and the Amended PNC Credit Facility were 12.8% and 8.5%, respectively. As of December 31, 2018, the Company had no amounts outstanding on the Amended PNC Credit Facility and had borrowing availability of $22.3 million.
As of December 31, 2018, the Company was required to maintain a $5.0 million restricted cash reserve as part of the Amended PNC Credit Facility. This balance is presented as long-term restricted cash within the accompanying condensed consolidated balance sheet as of December 31, 2018.