	December 31,
	2018		2017
Revolving credit facility	$	30,950	$	—
Obligations held under capital leases (Note 19)		813		207
Other borrowings		75		203
Total debt		31,838		410
Less: unamortized debt issuance costs		90		—
Less: current portion of long-term debt		331		232
Long-term debt, net of current portion	$	31,417	$	178

On October 18, 2017, the Company entered into an amended and restated credit agreement with Altair Engineering Inc., as borrower, JPMorgan Chase Bank, N.A., as the lead arranger, sole book runner, the administrative agent, swingline lender and letter of credit issuer, and a syndicate of lenders (“2017 Credit Agreement”). The 2017 Credit Agreement provided for an initial aggregate commitment amount of $100.0 million, with a sublimit for the issuance of letters of credit of up to $5.0 million and a sublimit for swingline loans of up to $5.0 million. The 2017 Credit Agreement matures on October 18, 2022. The 2017 Credit Agreement provides for an accordion feature that allows the Company to expand the size of the revolving line of credit by an additional $50.0 million, subject to certain conditions, by obtaining additional commitments from the existing lenders or by causing a person acceptable to the administrative agent to become a lender (in each case subject to the terms and conditions set forth in the 2017 Credit Agreement).

On October 31, 2018, the Company increased the revolving commitment available under the 2017 Credit Agreement from $100.0 million to $150.0 million. There were no other material changes to the terms of the 2017 Credit Agreement.

As of December 31, 2018, the Company had $31.0 million of outstanding borrowings under the 2017 Credit Agreement and there was $119.0 million available for future borrowing. The 2017 Credit Agreement is available for general corporate purposes, including working capital, capital expenditures, and permitted acquisitions. The weighted average interest rate on borrowings under the 2017 Credit Agreement was 4.6% for the year ended December 31, 2018.

Borrowings under the 2017 Credit Agreement bear interest at a rate per annum equal to an agreed upon applicable margin plus, at the Company’s option, either the Alternate Base Rate (defined as the greatest of (1) the Prime Rate (as defined in the 2017 Credit Agreement) in effect on such day, (2) the Federal Funds Effective Rate (as defined in the 2017 Credit Agreement) in effect on such day plus 1/2 of 1.00% or (3) the Adjusted LIBO Rate (as defined in the 2017 Credit Agreement) for a one month interest period on such day (or if such day is not a business day, the immediately preceding business day) plus 1.00%) or the Adjusted LIBO Rate. The applicable margin for borrowings under the 2017 Credit Agreement is based on the Company’s most recently tested consolidated total net leverage ratio and will vary from (a) in the case of Eurodollar loans, 1.25% to 2.00%, and (b) in the case of ABR loans or swingline loans, 0.25% to 1.00%. The Company pays a commitment fee ranging from 0.15% to 0.30% on the unused portion of the 2017 Credit Agreement.

The 2017 Credit Agreement is secured by collateral including (i) substantially all of the Company’s properties and assets, and the properties and assets of the Company’s domestic subsidiaries but excluding any patents, copyrights, patent applications or copyright applications or any trade secrets or software products and (ii) pledges of the equity interests in all present and future domestic subsidiaries (subject to certain exceptions as provided for under the 2017 Credit Agreement). The Company’s direct and indirect domestic subsidiaries are guarantors of all the obligations under the 2017 Credit Agreement.

The 2017 Credit Agreement requires the Company to maintain the following financial covenants:

At December 31, 2018, the Company was in compliance with all such financial covenants.

Prior to entering into the 2017 Credit Agreement, the Company’s credit agreement consisted of a $65.0 million term loan and a $60.0 million revolving commitment, including a $5.0 million swingline subfacility, and a letter of credit subfacility (collectively, the “Secured Credit Agreement”.) At December 31, 2016, the Company had $84.9 million outstanding under the Secured Credit Agreement and there was $32.6 million available for future borrowing. All borrowings under the Secured Credit Agreement were due on the termination date in April 2019.

On November 3, 2017, in connection with the completion of the Company’s IPO, the Company repaid in full all outstanding debt under the Secured Credit Agreement. The Company paid a total of approximately $93.1 million, which included outstanding principal, interest, and other nominal costs. Upon the repayment of the Secured Credit Agreement, all unamortized debt issuance costs were recorded as interest expense.

The Company has available overdraft and line of credit facilities in several countries in which it operates. These credit facilities are with various domestic and international banks and are at quoted market rates. At both December 31, 2018 and 2017, the Company had $3.5 million of availability under these facilities and there were no outstanding commitments.

At December 31, 2018, future maturities of long-term debt, excluding capital leases, were as follows (in thousands):

Year ending December 31,
2019	$	75
2020		—
2021		—
2022		30,950
2023		—
Total	$	31,025