3. LONG-TERM DEBT

Long-term debt consists of the following:



	March 31, 2014		December 31, 2013
	(in millions)

Revolving credit facility	$	—	$	—
Term facility	148.1		150.0
7.75% Notes	200.0		200.0
6.625% Notes	550.0		550.0
6.25% Notes	400.0		400.0
5.125% Notes	200.0		200.0
Foreign credit facilities	75.1		53.8
Capital lease obligations	5.2		5.3
Long-term debt	$	1,578.4	$	1,559.1

Revolving Credit Facility and Term Facility As of March 31, 2014, the revolving credit facility provided up to $523.5 million of revolving bank financing commitments through September 13, 2018. At March 31, 2014, we had $501.7 million available under the revolving credit facility. This availability reflects a reduction of $21.8 million for standby letters of credit issued against the facility.

The revolving credit facility provides back-up liquidity for our foreign credit facilities. We intend to use the availability of long-term financing under the revolving credit facility to refinance any current maturities related to such debt agreements that are not otherwise refinanced on a long-term basis in their local markets.

In the first quarter of 2014, we made a principal payment of $1.9 million on our term facility.

In the first quarter of 2013, we terminated our class C loan facility of $72.8 million, which would have matured on June 30, 2013. Upon termination, we expensed $0.5 million of unamortized debt issuance costs related to the class C facility. We had been amortizing the debt issuance costs over the expected life of the borrowing.

5.125% Notes In 2013, we issued $200.0 million of 5.125% senior unsecured notes due 2019 (5.125% Notes). Net proceeds from the 5.125% Notes were used to redeem the remaining $190.0 million outstanding under our 9.25% senior secured notes due 2017. We paid remaining debt issuance costs of $0.2 million in the first quarter of 2014 related to the 5.125% Notes.

6.25% Notes In the first quarter of 2013, we issued $400.0 million of 6.25% senior unsecured notes due 2021 (6.25% Notes). Net proceeds from the 6.25% Notes were used to purchase and redeem the entire $300.0 million outstanding of our 7.875% senior unsecured notes due 2017 (7.875% Notes) and for other general corporate purposes. We paid debt issuance costs of $6.2 million in the first quarter of 2013 related to the 6.25% Notes.

In the first quarter of 2013, we expensed $8.5 million related to tender and redemption premiums, $0.2 million of professional fees and unamortized debt issuance costs of $2.1 million related to the purchase and redemption of the 7.875% Notes. We had been amortizing the debt issuance costs for the 7.875% Notes over the expected life of the borrowing.

We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries. At March 31, 2014, $75.1 million was outstanding under these facilities and an additional $19.8 million was available.

The weighted-average interest rate of our long-term debt outstanding was 6.3% at both March 31, 2014 and December 31, 2013.