DEBT

Long-term debt consisted of the following:



(In millions)	March 31, 2019			December 31, 2018
Revolving credit facility	$	—		$	—
Bilateral credit facilities	—			—
Commercial paper	1,456.7			1,916.1
Synthetic bonds due 2021	484.7			490.9
3.45% Senior Notes due 2022	500.0			500.0
5.00% 2010 Private placement notes due 2020	224.7			229.0
3.40% 2012 Private placement notes due 2022	168.5			171.8
3.15% 2013 Private placement notes due 2023	146.0			148.9
3.15% 2013 Private placement notes due 2023	140.4			143.1
4.00% 2012 Private placement notes due 2027	84.2			85.9
4.00% 2012 Private placement notes due 2032	112.3			114.5
3.75% 2013 Private placement notes due 2033	112.3			114.5
Bank borrowings	478.7			265.2
Other	36.1			23.2
Unamortized issuing fees	(10.7		)	(11.4		)
Total debt	3,933.9			4,191.7
Less: current borrowings	208.9			67.4
Long-term debt	$	3,725.0		$	4,124.3

Bilateral credit facilities - We have access to four bilateral credit facilities in the aggregate of €320.0 million. The bilateral credit facilities consist of:


•	two credit facilities of €80.0 million each expiring in May 2019;


•	a credit facility of €60.0 million expiring in June 2019; and


•	a credit facility of €100.0 million expiring in May 2021.

Each bilateral credit facility contains usual and customary covenants, representations and warranties and events of default for credit facilities of this type.

Commercial paper - Under our commercial paper program, we have the ability to access $1.5 billion and €1.0 billion of short-term financing through our commercial paper dealers, subject to the limit of unused capacity of our revolving facility agreement. As we have both the ability and intent to refinance these obligations on a long-term basis, our commercial paper borrowings were classified as long-term debt in the consolidated balance sheets as of March 31, 2019 and December 31, 2018. Commercial paper borrowings are issued at market interest rates. As of March 31, 2019, our commercial paper borrowings had a weighted average interest rate of 2.89% on the U.S. dollar denominated borrowings and (0.22)% on the Euro denominated borrowings.

Bank borrowings - In January 2019, we executed a sale-leaseback transaction to finance the purchase of a deepwater dive support vessel, Deep Discoverer (the “Vessel”) for the full transaction price of $116.8 million. The sale-leaseback agreement (“Charter”) was entered into with a French joint-stock company, owned by Credit Industrial et Commercial (“CIC”) which was formed for the sole purpose to purchase and act as the lessor of the Vessel. It is a variable interest entity, which is fully consolidated in our condensed consolidated financial statements. The transaction was funded through debt of $96.2 million which is primarily long-term, expiring on January 8, 2031.