REVOLVING CREDIT FACILITY AND LONG-TERM DEBT

Long-term debt consisted of the following as of the dates set forth below (amounts in thousands):



	December 31, 2016
	Principal Balance		Unamortized Discount			Net Carrying Amount
6.875% senior secured notes due 2020	$	400,000	$	(4,148	)	$	395,852
5.625% convertible senior subordinated notes due 2017	60,161		(13		)	60,148
Titan Europe credit facilities	33,710		—			33,710
Other debt	15,560		—			15,560
Capital leases	902		—			902
Total debt	510,333		(4,161		)	506,172
Less amounts due within one year	97,425		(13		)	97,412
Total long-term debt	$	412,908	$	(4,148	)	$	408,760



	December 31, 2015
	Principal Balance		Unamortized Discount			Net Carrying Amount
6.875% senior secured notes due 2020	$	400,000	$	(4,640	)	$	395,360
5.625% convertible senior subordinated notes due 2017	60,161		(321		)	59,840
Titan Europe credit facilities	38,059		—			38,059
Other debt	11,531		—			$	11,531
Capital leases	1,875		—			$	1,875
Total debt	511,626		(4,961		)	506,665
Less amounts due within one year	31,222		—			31,222
Total long-term debt	$	480,404	$	(4,961	)	$	475,443

Aggregate maturities of long-term debt at December 31, 2016, for each of the years set forth below are as follows (amounts in thousands):



2017	$	97,425
2018	4,663
2019	7,857
2020	400,386
2021	2
	$	510,333

6.875% senior secured notes due 2020

The Company’s 6.875% senior secured notes (senior secured notes due 2020) are due October 2020. These notes are secured by the land and buildings of the following subsidiaries of the Company: Titan Tire Corporation, Titan Tire Corporation of Bryan, Titan Tire Corporation of Freeport, and Titan Wheel Corporation of Illinois. The outstanding balance for the Company's senior secured notes due 2020 was $400.0 million at December 31, 2016.

5.625% convertible senior subordinated notes due 2017

The Company's convertible notes, of which $60.2 million were outstanding at December 31, 2016, were due January 2017. See Note 33 for information related to the subsequent conversion of a substantial majority of these convertible notes.

Titan Europe credit facilities

The Titan Europe credit facilities included borrowings from various institutions totaling $33.7 million at December 31, 2016. Maturity dates on this debt range from less than one year to three years and interest rates range from 5% to 6.9%. The Titan Europe facilities are primarily secured by the assets of its subsidiaries in Italy, Spain, Germany, and Brazil.

Revolving credit facility

The Company’s $150 million revolving credit facility (credit facility) with agent Bank of America, N.A. has a December 2017 termination date and is collateralized by the accounts receivable and inventory of certain of the Company's domestic subsidiaries. Titan’s availability under this domestic facility may be less than $150 million as a result of eligible accounts receivable and inventory balances at certain of its domestic subsidiaries. At December 31, 2016, an outstanding letter of credit totaled $11.6 million and the remaining amount available under the credit facility for borrowings or letters of credit was $33.1 million based on eligible accounts receivable and inventory balances. During 2016 and at December 31, 2016, there were no borrowings under the credit facility. See Note 33 for information related to the subsequent replacement of this credit facility.

Other Debt

Titan Brazil had working capital loans for the Sao Paulo, Brazil manufacturing facility totaling $11.6 million at December 31, 2016. Maturity dates on this debt range from less than one year up to two years and interest rates range from 5.5% to 8%.

Voltyre-Prom had working capital loans totaling $3.9 million at December 31, 2016. Maturity dates on this debt range from less than one year up to three years and interest rates range from 11.2% to 11.3%.