Note 7 - Long-term debt:

	December 31,		March 31,
	2015		2016
	(In millions)
Term loan	$	338.0	$	337.5
Revolving North American credit facility		-		9.2
Other		3.0		3.1
Total debt		341.0		349.8
Less current maturities		3.8		3.7
Total long-term debt	$	337.2	$	346.1

Term loan - During the first three months of 2016, we made our required quarterly principal payment of $.9 million. The average interest rate on the term loan borrowings as of and for the quarter ended March 31, 2016 was 4.0%. The carrying value of the term loan at March 31, 2016 is stated net of unamortized original issue discount of $1.1 million and debt issuance costs of $4.4 million.

See Note 13 for a discussion of the interest rate swap we entered into in 2015 pursuant to our interest rate risk management strategy.

Revolving North American credit facility - During the first three months of 2016, we borrowed $9.2 million under our North American revolving credit facility. The average interest rate on outstanding borrowings as of and for the quarter ended March 31, 2016 was 4.25%. At March 31, 2016 we had approximately $79.1 million available for additional borrowing under this revolving facility.

Revolving European credit facility - Our European revolving credit facility requires the maintenance of certain financial ratios, and one of such requirements is based on the ratio of net debt to last twelve months earnings before income tax, interest, depreciation and amortization expense (EBITDA) of the borrowers. Based upon the borrowers’ last twelve months EBITDA as of March 31, 2016 and the net debt to EBITDA financial test, our borrowing availability at March 31, 2016 is approximately 6% of the credit facility, or €6.7 million ($7.5 million).

Other - We are in compliance with all of our debt covenants at March 31, 2016.