15. Debt



			Carrying amount
			September 30,		December 31,
				2018		2017
Short-term debt			$	10,532	$	7,018

Long-term debt:

	Term Loans (previously referred to as Delayed draw term loans):
		Denominated in Canadian dollars, secured, bearing interest at a weighted
		average rate of 4.015%, due in monthly installments of interest only and
		quarterly installments of principal, maturing in October 2021		173,345		185,143
		Denominated in United States dollars, secured, bearing interest at a weighted
		average rate of 4.219%, due in weekly installments of interest only and
		quarterly installments of principal, maturing in October 2021		92,690		144,544
		Less: unamortized debt issue costs		(2,940)		(4,134)
	Senior unsecured notes:
		Bearing interest at 5.375% due in semi-annual installments, with the full
		amount of principal due in January 2025		500,000		500,000
		Less: unamortized debt issue costs		(11,317)		(12,661)
Total Long-term debt				751,778		812,892

Total debt			$	762,310	$	819,910

Long-term debt:
Current portion			$	11,556	$	16,907
Non-current portion				740,222		795,985
Total long-term debt			$	751,778	$	812,892

Short-term debt at September 30, 2018 is comprised of drawings in different currencies on the Company’s committed revolving credit facilities and have a weighted average interest rate of 2.4% (December 31, 2017: 2.7%).

For the three and nine months ended September 30, 2018, the Company made scheduled debt repayments of $2,270,000 and $8,825,000, respectively, on the term loans (2017: $4,154,000 and $4,154,000). For the nine months ended September 30, 2018, the Company made voluntary prepayments totalling $50,000,000 on the term loan denominated in United States dollars. Prepayments are applied against future scheduled mandatory payments. The amount available pursuant to the term loan facility was only available to finance the acquisition of IronPlanet and will not be available for other corporate purposes upon repayment of amounts borrowed under that facility.

On June 21, 2018, the Company reduced the amount available on the Company’s committed revolving credit facilities by $185,000,000. At September 30, 2018, the Company’s credit agreement with a syndicate of lenders, and Bank of America, N.A. as administrative agent provides the Company with:

Revolving facilities of up to $490,000,000

The term loan facility used to finance the acquisition of IronPlanet and

At the Company’s election and subject to certain conditions, including receipt of related commitments, incremental term loan facilities and/or increases to the revolving facilities in an aggregate amount of up to $50,000,000.

15. Debt (continued)

As at September 30, 2018, the Company had unused committed revolving credit facilities aggregating $477,007,000 of which $472,881,000 is available until October 27, 2021.