23. Debt



		Carrying value
As at December 31,			2015		2014
Short-term debt		$	12,350	$	7,839

Long-term debt:

	Term loan, denominated in Canadian dollars, unsecured, bearing
	interest at 4.225%, due in quarterly installments of interest only,
	with the full amount of the principal due in May 2022.		24,567		29,257

	Term loan, denominated in United States dollars, unsecured, bearing
	interest at 3.59%, due in quarterly installments of interest only,
	with the full amount of the principal due in May 2022.		30,000		30,000

	Term loan, denominated in Canadian dollars, unsecured, bearing
	interest at 6.385%, due in quarterly installments of interest only,
	with the full amount of the principal due in May 2016.		43,348		51,589

			97,915		110,846

Total debt		$	110,265	$	118,685

Total long-term debt:
Current portion		$	43,348	$	-
Non-current portion			54,567		110,846
		$	97,915	$	110,846

At December 31, 2015, the current portion of long-term debt consisted of a Canadian dollar 60,000,000 term loan under the Company’s uncommitted, non-revolving credit facility.

Short-term debt at December 31, 2015 is comprised of drawings in different currencies on the Company’s committed revolving credit facilities of $312,693,000 (2014: $285,000,000), and have a weighted average interest rate of 1.82% (December 31, 2014: 1.83%).

As at December 31, 2015, principal repayments for the remaining period to the contractual maturity dates are as follows:



		Face value
2016	$	55,698
2017		-
2018		-
2019		-
2020		-
Thereafter		54,567
	$	110,265

23. Debt (continued)

As at December 31, 2015, the Company had available committed revolving credit facilities aggregating $300,358,000, of which $212,665,000 is available until May 2018. The Company also had available uncommitted credit facilities aggregating $170,049,000, of which $127,076,000 expires November 2017. The Company has a committed seasonal bulge credit facility of $50,000,000, which is available in February, March, August and September until May 2018. This bulge credit facility is not included in the available credit facilities totals above as at December 31, 2015.

The Company is required to meet financial covenants established by its lenders. These include fixed charge coverage ratio and leverage ratio measurements. As at December 31, 2015 and 2014, the Company is in compliance with these covenants. The Company is not subject to any statutory capital requirements, and has not made any changes with respect to its overall capital management strategy during the years ended December 31, 2015 and 2014.