20. Debt



		Carrying value
		September 30,		December 31,
			2016		2015
Short-term debt		$	39,013	$	12,350

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.		25,894		24,567

	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

	Revolving loan, denominated in Canadian dollars, unsecured, bearing
	interest at a weighted average rate of 1.75%, due in monthly
	installments of interest only, with the committed, revolving credit
	facility available until May 2018.		45,696		-

	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

			101,590		97,915

Total debt		$	140,603	$	110,265
Total long-term debt:
Current portion		$	-	$	43,348
Non-current portion			101,590		54,567
		$	101,590	$	97,915

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, revolving credit facility. The Company refinanced this term loan on a long-term basis when it fell due on May 4, 2016 by drawing on its committed, revolving credit facility.

Short-term debt at September 30, 2016 is comprised of drawings in different currencies on the Company’s committed and uncommitted revolving credit facilities of $359,358,000 (December 31, 2015: committed revolving credit facilities of $312,693,000), and have a weighted average interest rate of 1.6% (December 31, 2015: 1.8%).

As at September 30, 2016, the Company had available committed revolving credit facilities aggregating $256,801,000, of which $168,139,000 is available until May 2018. The Company also had available uncommitted credit facilities aggregating $193,367,000, of which $169,106,000 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 September 30, 2016.

20. Debt (continued)

On August 29, 2016, the Company obtained a financing commitment (the “Commitment Letter”) from Goldman Sachs Bank USA (“GS Bank”) pursuant to which GS Bank is committing to provide (i) a senior secured revolving credit facility in an aggregate principal amount of $150,000,000 (the “Revolving Facility”) and (ii) a senior unsecured bridge loan facility in an aggregate principal amount of up to $850,000,000 (the “Bridge Loan Facility”, and together with the Revolving Facility, the “Facilities”). Under the terms of the Commitment Letter, the Company may replace all or a portion of the Bridge Loan Facility with senior unsecured debt securities or certain other bank loan facilities. Debt issue costs related to these Facilities are discussed in note 24.