Long-Term Debt. Long-term debt consisted of the following at March 31, 2014 and December 31, 2013(in thousands):



	2014		2013
Senior Secured Debt
Revolving credit facility, due May 2018	$	41,000	$	44,500
Term A loan facility, due May 2018	172,500		92,500
Term B loan facility, due May 2020	180,313		262,813
	$	393,813	$	399,813

On May 16, 2013, the Company entered into a new $500.0 million credit facility and repaid all borrowing under the old facility. The facility initially consisted of (i) a $100.0 million, five-year term A loan facility, (ii) a $275.0 million seven-year term B loan facility and (iii) a $125.0 million, five-year revolving loan facility. On February 28, 2014, the Company increased the term A loan facility by $82.5 million and repaid $82.5 million on the term B loan facility. Under terms of the credit facility, the Company has the ability to increase the loan facilities by up to $100.0 million under certain specified conditions.

Borrowings under the facility bear interest at the Company's option, at either the Eurodollar rate (LIBOR) or the base rate, plus 1.75 percent to 2.50 percent for the term A loan facility and revolving loans and LIBOR, with a floor of 1.0 percent, plus 2.50 percent for the term B loan facility. The commitment fee on the undrawn portion available under the revolving loan facility ranges from 0.25 percent to 0.40 percent.

At March 31, 2014, borrowings on the term A loan facility bore interest at 2.2 percent, and borrowings on the term B loan facility bore interest at 3.5 percent. The revolving credit facility bore interest at 2.2 percent. The weighted average interest rate at March 31, 2014 was 2.8 percent.

During the remainder of this fiscal year, each of the next four years and thereafter, the Company will be required to make payments as follows (in thousands):



2014	$	13,687
2015	18,250
2016	18,250
2017	18,250
2018	145,063
Thereafter	180,313
	$	393,813

The Company is also required to make mandatory prepayments of loans under the facility, subject to specified exceptions, from excess cash flow and the proceeds of asset sales, debt issuances and specified other events.

The Company's obligations under the credit facility are guaranteed by substantially all of its direct and indirect domestic subsidiaries and secured by a lien on substantially all of the Company's tangible and intangible property and by a pledge of: (i) all of the equity interests in its direct and indirect domestic subsidiaries; and (ii) approximately 65 percent of the equity interests in its first-tier foreign subsidiaries.

In addition to other covenants, the maximum ratio of consolidated funded debt to consolidated EBITDA steps down from 4.00:1.00 as of March 31, 2014 to 3.25:1.00 by June 30, 2015. There are also limits on the Company's and its subsidiaries' ability to: incur liens, incur additional indebtedness, make loans and investments, engage in mergers and acquisitions, engage in asset sales, declare dividends or redeem or repurchase capital stock, alter the business conducted by the Company and its subsidiaries, transact with affiliates, prepay, redeem or purchase subordinated debt and amend or otherwise alter debt agreements.

As of March 31, 2014 and December 31, 2013, the Company was in compliance with all of its debt covenants. As of March 31, 2014, the Company had a ratio of funded debt to consolidated EBITDA of 2.12:1.00 and had $81.0 million of borrowings available under the revolving credit facility.