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Debt
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Debt Debt
Debt outstanding was as follows:
In millionsDecember 31, 2021December 31, 2020
4.88% Loan Notes due 2023
25.0 25.0 
4.94% Loan Notes due 2026
25.0 25.0 
Revolving credit facility10.8 4.1 
Unamortized debt issuance costs(1.2)(0.7)
Total debt$59.6 $53.4 
Non-current debt$59.6 $53.4 
In May 2021, we reduced our revolving credit facility ("RCF") from $150 million to $100 million to reflect the Company's scaled back funding requirements. In October 2021, a new Senior Facilities Agreement ("SFA") was agreed which provides $100 million in committed debt facilities, taking the form of a multi-currency RCF, with an additional $50 million of uncommitted facilities through an accordion provision, a provision that allows the Company to expand the maximum amount allowed on the line of credit. The previous SFA was due to mature in July 2022, but has been replaced by the new agreement which will mature in October 2026. Issuance costs of $0.8 million were capitalized in relation to the new facility, with $0.2 million of costs written off from issuance costs previously capitalized.
The SFA bears interest equal to an applicable margin, based upon the Company's leverage, plus either EURIBOR, in the case of amounts drawn in euros, or SONIA (Sterling Overnight Index Average), in the case of amounts drawn in GBP sterling or U.S. dollars. The weighted-average interest rate on the RCF was 1.70% and 2.19% in 2021 and 2020, respectively.
The maturity profile of the Company's debt, excluding unamortized issuance costs and discounts is, as follows:
In millions20222023202420252026Total
Loan Notes due 2023$— $25.0 $— $— $— $25.0 
Loan Notes due 2026— — — — 25.0 25.0 
Revolving credit facility— — — — 10.8 10.8 
Total debt $— $25.0 $— $— $35.8 $60.8 
11.    Debt (continued)
Loan notes due and shelf facility
We have been in compliance with the covenants under the Note Purchase and Private Shelf Agreement throughout all of the quarterly measurement dates in 2021, with an expectation of compliance in 2022.
Senior Facilities Agreement
The Senior Facilities Agreement contains a number of additional undertakings and covenants that, among other things, restrict, subject to certain exceptions, our and our subsidiaries' ability to:
•engage in mergers, divestitures, consolidations or divisions;
•change the nature of our business;
•make certain acquisitions;
•participate in certain joint ventures;
•grant liens or other security interests on our assets;
•sell, lease, transfer or otherwise dispose of assets, including receivables;
•enter into certain non-arm's-length transactions;
•grant guarantees;
•pay off certain existing indebtedness;
•make investments, loans or grant credit; and
•issue shares or other securities;
The Senior Facilities Agreement requires us to maintain compliance with an interest coverage ratio and a leverage ratio. The interest coverage ratio measures our EBITDA (as defined in the SFA) to Net Finance Charges (as defined in the SFA). We are required to maintain a minimum interest coverage ratio of 4.0:1. The leverage ratio measures our Total Net Debt (as defined in the SFA) to the Relevant Period Adjusted Acquisition EBITDA (as defined in the SFA). We are required to maintain a leverage ratio of no more than 3.0:1.
Any breach of a covenant in the SFA could result in a default under the SFA, in which case lenders could elect to declare all borrowed amounts immediately due and payable if the default is not remedied or waived within any applicable grace periods. Additionally, our and our subsidiaries' ability to make investments, incur liens and make certain restricted payments is also tied to ratios based on EBITDA.
We have been in compliance with the covenants under the SFA throughout all of the quarterly measurement dates in 2021, with an expectation of compliance in 2022.