INDEBTEDNESS

3 Months Ended

Mar. 31, 2020

The following table summarizes the Company’s long-term debt as of the dates presented (in millions):


	March 31, 2020		December 31, 2019
Revolving credit facility	$	304.5	$	138.5
U.S. term loans	225.0		228.1
Multi-currency term loans	80.8		83.7
Total long-term debt	610.3		450.3
Less: Current maturities of long-term debt	17.0		17.1
Less: Unamortized debt issuance costs	4.0		4.3
Long-term debt, net	$	589.3	$	428.9

Credit Facility

The commitments and available borrowing capacity under the revolving credit facility (the “Revolver”) were as follows as of the dates presented (in millions):


	Commitments		Outstanding Borrowings		Letters of Credit Outstanding		Borrowing Capacity
March 31, 2020	$	400.0	$	304.5	$	5.1	$	90.4
December 31, 2019	$	400.0	$	138.5	$	5.1	$	256.4

At March 31, 2020, borrowings under the Revolver include $15.0 million at a base rate of 3.75% and $289.5 million at a weighted-average LIBOR rate of 2.42%. At December 31, 2019, borrowings under the Revolver included $10.0 million at a base rate of 5.25% and $128.5 million at a weighted-average LIBOR rate of 3.27%. As of March 31, 2020 and December 31, 2019, letters of credit issued under the Revolver incurred interest at the rate of 1.50%.

At March 31, 2020, the U.S. term loan and multi-currency term loan incurred interest at 2.49% and 1.50%, respectively. At December 31, 2019, the U.S. term loan and multi-currency term loan incurred interest at 3.30% and 1.50%, respectively. The Eurocurrency rates used for the U.S. dollar-denominated term loan and the Euro-denominated term loan are one-month LIBOR and three-month Euribor, respectively. Borrowings under the term loan facilities amortize in equal quarterly installments at a rate of 5% per annum, with the remaining balance due upon maturity.