DEBT

On June 16, 2014, GPII entered into Amendment No. 3 to the Amended and Restated Credit Agreement with a syndicate of lenders consisting primarily of commercial banks (the "Credit Agreement"). This Amendment No. 3 increased the revolving credit facilities under which borrowings may be made in Sterling or Euro by €63.0 million (approximately $86 million). The fees of $0.2 million were deferred and will be amortized over the term of the credit facilities.

For more information regarding the Company’s debt, see “Note 5 — Debt” of the Notes to Consolidated Financial Statements of the Company’s 2013 Form 10-K.

Long-Term Debt is composed of the following:



In millions	September 30, 2014		December 31, 2013
Senior Notes with interest payable semi-annually at 7.875%, payable in 2018 ($250.0 million face amount)	$	247.7	$	247.3
Senior Notes with interest payable semi-annually at 4.75%, payable in 2021	425.0		425.0
Senior Secured Term Loan Facility with interest payable at various dates at floating rates (1.90% at September 30, 2014) payable through 2018	1,168.5		1,214.6
Senior Secured Revolving Facilities with interest payable at floating rates (2.15% at September 30, 2014) payable in 2018	227.6		344.3
Capital Lease Obligations	3.6		5.6
Other	6.8		16.8
Total Debt	2,079.2		2,253.6
Less: Short-Term Debt and Current Portion of Long-Term Debt	68.0		77.4
Total Long-Term Debt	$	2,011.2	$	2,176.2

At September 30, 2014, the Company and its U.S. and international subsidiaries had the following commitments, amounts outstanding and amounts available under revolving credit facilities:



In millions	Total Commitments		Total Outstanding		Total Available
Domestic Revolving Credit Facility ^(a)	$	1,000.0	$	105.5	$	868.3
International Facilities	228.9		128.8		100.1
Total	$	1,228.9	$	234.3	$	968.4

(a)

In accordance with its debt agreements, the Company’s availability under its revolving credit facilities has been reduced by the amount of standby letters of credit issued of $26.2 million as of September 30, 2014. These letters of credit are used primarily as security against its self-insurance obligations and workers’ compensation obligations. These letters of credit expire at various dates through mid-2015 unless extended.

The Credit Agreement and the indenture governing the 7.875% Senior Notes due 2018 and the 4.75% Senior Notes due 2021 (the “Indenture”) limit the Company’s ability to incur additional indebtedness. Additional covenants contained in the Credit Agreement and the Indenture, among other things, restrict the ability of the Company to dispose of assets, incur guarantee obligations, prepay other indebtedness, make dividend and other restricted payments, create liens, make equity or debt investments, make acquisitions, modify terms of the Indenture, engage in mergers or consolidations, change the business conducted by the Company and its subsidiaries, and engage in certain transactions with affiliates. Such restrictions could limit the Company’s ability to respond to changing market conditions, fund its capital spending program, provide for unexpected capital investments or take advantage of business opportunities.

Under the terms of the Credit Agreement, the Company must comply with a maximum consolidated total leverage ratio and a minimum consolidated interest coverage ratio. The Company's obligations under the Credit Agreement are secured by substantially all of the Company's domestic assets.

As of September 30, 2014, the Company was in compliance with the covenants in the Credit Agreement and the Indenture.