
3.	LONG-TERM DEBT

Long-term debt consists of the following:



	March 31, 2016		December 31, 2015
	(in millions)

Revolving Credit Facility	$	—	$	—
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	43.9		38.0
Capital lease obligations	5.5		5.6
Total debt	1,399.4		1,393.6
Less: Current portion of long-term debt	3.4		3.3
Long-term debt	1,396.0		1,390.3
Less: Debt issuance costs	13.9		14.6
Long-term debt, net	$	1,382.1	$	1,375.7

Revolving Credit Facility As of March 31, 2016, the revolving credit facility provided up to $523.5 million of revolving bank financing commitments through September 13, 2018. At March 31, 2016, 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.

We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries. At March 31, 2016, $43.9 million was outstanding under these facilities and an additional $75.6 million was available.

The weighted-average interest rate of our long-term debt outstanding was 6.5% at March 31, 2016 and December 31, 2015.