
	December 31,
(in thousands)	2020			2019
Subordinated notes payable, maturing June 2045	$	150,000		$	150,000
Subordinated notes payable, maturing June 2060		172,500			—
Other long-term debt		66,062			87,890
Less: unamortized debt issuance costs		(10,240	)		(4,428	)
Total long-term debt	$	378,322		$	233,462

The following table sets forth unamortized debt issuance costs associated with the respective debt instruments at December 31, 2020:

					Unamortized
					Debt
					Issuance
(in thousands)		Principal			Costs
Subordinated notes payable, maturing June 2045	$		150,000	$		4,252
Subordinated notes payable, maturing June 2060			172,500			5,988
Other long-term debt			66,062			—
Total	$		388,562	$		10,240

On June 9, 2020, the Company completed the issuance of subordinated notes payable with an aggregate principal amount of $172.5 million, with a stated maturity of June 15, 2060. The notes accrue interest at a fixed rate of 6.25% per annum, with quarterly interest payments that began September 15, 2020. Subject to prior approval by the Federal Reserve, the Company may redeem the notes in whole or in part on any interest payment date on or after June 15, 2025. This debt qualifies as tier 2 capital in the calculation of certain regulatory capital ratios. The proceeds from the issuance were intended for general corporate purposes, including providing capital to Hancock Whitney Bank if and when deemed appropriate.

On March 9, 2015, the Company completed the issuance of subordinated notes payable with an aggregate principal amount of $150 million, maturing on June 15, 2045. These notes accrue interest at a fixed rate of 5.95% per annum, with quarterly interest payments that began in June 2015. Subject to prior approval by the Federal Reserve, the Company may redeem the notes in whole or in part on any interest payment date on or after June 15, 2020. This debt qualifies as tier 2 capital in the calculation of certain regulatory capital ratios.

Substantially all of the Company’s other long-term debt consists of borrowings associated with tax credit fund activities. Although these borrowings have indicated maturities through 2049, each is expected to be satisfied at the end of the seven-year compliance period for the related tax credit investments.