Table:
| Three months ended August 31, | 2019 | 2018 (1) | Change |
| --- | --- | --- | --- |
| (in thousands of dollars, except percentages) | $ | $ | % |
| Interest on long-term debt | 41,307 | 46,127 | (10.4) |
| Net foreign exchange losses (gains) | (403) | 482 | — |
| Amortization of deferred transaction costs | 464 | 441 | 5.2 |
| Capitalized borrowing costs | (168) | (162) | 3.7 |
| Other | (763) | 821 | — |
|  | 40,437 | 47,709 | (15.2) |
Paragraphs:
FINANCIAL EXPENSE
(1) Fiscal 2018 was restated to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Discontinued operations" section.
Fiscal 2019 fourth-quarter financial expense decreased by 15.2% mainly due to: • the reimbursements of $65 million and US$35 million under the Canadian Revolving Facility during the second quarter of fiscal 2019 and of US$328 million during the third quarter of fiscal 2019 following the sale of Cogeco Peer 1; and • lower debt outstanding and interest rates on the First Lien Credit Facilities; party offset by • the appreciation of the US dollar against the Canadian dollar compared to same period of the prior year.
Question:
What was the percentage decrease in the interest on long-term debt from 2018 to 2019?
Answer: 10.4