3. LONG-TERM DEBT

Long-term debt consists of the following:



	September 30, 2015		December 31, 2014
	(in millions)

Revolving Credit Facility	$	—	$	—
Term Facility	135.9		142.5
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	36.8		38.9
Capital lease obligations	4.6		5.0
Debt	1,527.3		1,536.4
Less: Current portion of long-term debt	19.2		13.0
Long-term debt	$	1,508.1	$	1,523.4

Revolving Credit Facility and Term Facility As of September 30, 2015, the revolving credit facility provided up to $523.5 million of revolving bank financing commitments through September 13, 2018. At September 30, 2015, we had $513.1 million available under the revolving credit facility. This availability reflects a reduction of $10.4 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, except where otherwise reclassified to current portion of long-term debt on our Condensed Consolidated Balance Sheet.

In the first nine months of 2015 and 2014, we made principal payments on our term facility of $6.6 million and $5.6 million, respectively.

On October 9, 2015, we elected to prepay all quarterly principal payments that were due on our term facility through the end of 2016. This resulted in a cash payment of $15.9 million.

We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries. At September 30, 2015, $36.8 million was outstanding under these facilities and an additional $45.4 million was available.

The weighted-average interest rate of our long-term debt outstanding was 6.4% at both September 30, 2015 and December 31, 2014.