DEBT

Debt consisted of the following at March 31, 2019:



	March 31, 2019
	U.S. Dollar			Other Principal Trading Currencies			Total
3.67% $50 million Senior Notes due December 17, 2022	$	50,000		$	—		$	50,000
4.10% $50 million Senior Notes due September 19, 2023	50,000			—			50,000
3.84% $125 million Senior Notes due September 19, 2024	125,000			—			125,000
4.24% $125 million Senior Notes due June 25, 2025	125,000			—			125,000
1.47% Euro 125 million Senior Notes due June 17, 2030	—			140,750			140,750
Senior notes debt issuance costs, net	(862		)	(321		)	(1,183		)
Total Senior Notes	349,138			140,429			489,567
$1.1 billion Credit Agreement, interest at LIBOR plus 87.5 basis points	440,532			78,386			518,918
Other local arrangements	1,261			52,537			53,798
Total debt	790,931			271,352			1,062,283
Less: current portion	(1,261		)	(52,537		)	(53,798		)
Total long-term debt	$	789,670		$	218,815		$	1,008,485

As of March 31, 2019, the Company had $575.2 million of availability remaining under its Credit Agreement.

In April 2019, the Company entered into an agreement to issue and sell $75 million of ten-year Senior Notes in a private placement. The Company will issue the Senior Notes with a fixed interest rate of 3.91% ("3.91% Senior Notes") in June 2019. The 3.91% Senior Notes are unsecured obligations of the Company and will mature in June 2029. Interest on the 3.91% Senior Notes is payable semi-annually in June and December of each year.

The 3.91% Senior Notes contain customary affirmative and negative covenants including, among others, limitations on the Company and its subsidiaries with respect to incurrence of liens and priority indebtedness, disposition of assets, mergers, and transactions with affiliates. The note purchase agreement also requires the Company to maintain a consolidated interest coverage ratio of more than 3.5 to 1.0 and a consolidated leverage ratio of less than 3.5 to 1.0. The agreement contains customary events of defaults with customary grace periods, as applicable.

Other Local Arrangements

In 2018, two of the Company's non-U.S. pension plans issued loans totaling $39.6 million (Swiss franc 38 million) to a wholly owned subsidiary of the Company. The loans have the same terms and conditions which include an interest rate of Swiss franc LIBOR plus 87.5 basis points, a maturity date of April 2019, and a one year mutual renewal term and, as such, are classified as short-term debt on the Company's consolidated balance sheet.

1.47% Euro Senior Notes

The Company has designated the 1.47% Euro Senior Notes as a hedge of a portion of its net investment in a euro-denominated foreign subsidiary to reduce foreign currency risk associated with this net investment. Changes in the carrying value of this debt resulting from fluctuations in the euro to U.S. dollar exchange rate are recorded as foreign currency translation adjustments within other comprehensive income (loss). The pre-tax unrealized gain (loss) recorded in other comprehensive income (loss) related to this net investment hedge was a gain of $2.3 million and a loss of $5.5 million for the three months ended March 31, 2019 and 2018, respectively. The Company has a gain of $0.9 million recorded in accumulated other comprehensive income (loss) as of March 31, 2019.