Note 6. Long-Term Debt

At June 30, 2015, the Company owed approximately $114 million under its various borrowing arrangements with several banks in Colombia, Panama and 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.

The mortgage loan from TD Bank N.A. for real property acquired in December 2014 by Tecno RE includes requirements that the Company has to maintain debt service coverage ratio to be evaluated annually; as well a loan to value ratio evaluation from time to time by the bank.

	June 30,		December 31,
	2015		2014
Obligations under borrowing arrangements	$	114,871	$	94,198
Less: Current portion of long-term debt and other current borrowings		58,217		54,925
Long-term debt	$	56,654	$	39,273

Maturities of long term debt and other current borrowings are as follows as of June 30, 2015:

12 months ending June 30,
2017	$	22,706
2018		12,210
2019		7,410
2020		6,785
Thereafter		7,543
Total	$	56,654

Revolving Lines of Credit

The Company has approximately $8.5 million available in two lines of credit under a revolving note arrangement as of June 30, 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 June 30, 2015 and December 31, 2014, $7,823 and $375 was outstanding under these lines, respectively.

Proceeds from debt and repayments of debt for the six months ended June 30, 2015 and 2014 are as follows:

	2015		2014
Proceeds from debt	$	57,462	$	55,080
Repayments of debt	$	49,093	$	37,568

The Company acquired assets under capital leases for the six months ended June 30, 2015 and 2014 for $20,180 and $2,462, respectively.

Interest expense for the six month periods ended June 30, 2015 and 2014 was $4,202 and $4,267, respectively.