Note 6. Long-Term Debt

At March 31, 2015, the Company owed approximately $96,936 under its various borrowing arrangements with several banks in Colombia, Panama, the United States and including obligations under various capital leases. The bank obligations have maturities ranging from six months to 15 years that bear interest at rates ranging from 2.9% to 12.03%. These loans are generally secured by substantially all of the Company’s accounts receivable and / or inventory. Certain obligations include covenants and events of default including requirements that the Company maintain a minimum debt to EBITDA ratio, a minimum debt service ratio, total debt to total assets ratio and sales growth ratios.

	March 31,		December 31,
	2015		2014
Obligations under borrowing arrangements	$	96,936	$	94,198
Less: Current portion of long-term debt and other current borrowings		59,886		54,925
Long-term debt	$	37,050	$	39,273

Revolving Lines of Credit

The Company has approximately $1.7 million available in two lines of credit under a revolving note arrangement as of March 31, 2015. The floating interest rates on the revolving notes are between DTF+6% and DTF+7%. DTF is the primary measure of interest rates in Colombia. At March 31, 2015 and December 31, 2014, $202 and $375 was outstanding under these lines, respectively.

Proceeds from debt and repayments of debt for the three months ended March 31, 2015 and 2014 are as follows:

	March 31,
	2015		2014
Proceeds form debt	$	22,255	$	23,229
Repayments of debt	$	21,767	$	16,530

The Company acquired assets under capital leases for the three months ended March 31, 2015 and 2014 for $9,100 and $55, respectively.

Interest expense for the three month periods ended March 31, 2015 and 2014 was $2,152 and $1,973, respectively.