(table only in thousands)	March 31, 2021			December 31, 2020
Outstanding borrowings under the Credit Facility Term loan payable in quarterly principal installments of $0.6 million through June 2021, $0.9 million through June 2023, and $1.3 million thereafter with balance due upon maturity in June 2024.
- Term loan	$	45,625		$	46,250
- Revolving Credit Loan		25,000			27,700
- Unamortized debt discount		(1,233	)		(1,334	)
Total outstanding borrowings under the Credit Facility		69,392			72,616

Less: current portion		(3,437	)		(3,125	)
Total debt, less current portion	$	65,955		$	69,491

Scheduled principal payments under our Credit Facility are $2.5 million remaining in 2021, $3.7 million in 2022, $4.4 million in 2023, and $60.0 million in 2024.

As of March 31, 2021 and December 31, 2020, $7.9 million and $7.6 million of letters of credit were outstanding, respectively. Total unused credit availability under the Company’s senior secured term loan and senior secured revolver loan with sub-facilities for letters of credit, swing-line loans and senior secured multi-currency loans (collectively, the “Credit Facility”) was $52.8 million and $60.8 million at March 31, 2021 and December 31, 2020, respectively. Revolving loans may be borrowed, repaid and reborrowed until June 11, 2024, at which time all outstanding balances of the Credit Facility must be repaid.

The weighted average stated interest rate on outstanding borrowings was 2.20% and 2.31% at March 31, 2021 and December 31, 2020, respectively.

Under the terms of the Credit Facility, the Company is required to maintain certain financial covenants, including the maintenance of a Consolidated Net Leverage Ratio (as defined in the Credit Faciity). Through September 30, 2021, the maximum Consolidated Net Leverage Ratio is 3.50, after which time the Consolidated Net Leverage Ratio will decrease to 3.25 until the end of the term of the Credit Facility.

As of March 31, 2021 and December 31, 2020, the Company was in compliance with all related financial and other restrictive covenants under the Credit Facility.

The Company has a number of bank guarantee facilities and bilateral lines in various countries currently supported by cash, letters of credit or pledged assets and collateral under the Credit Facility. The Credit Facility allows letters of credit and bank guarantee issuances of up to $50.0 million from the bilateral lines secured by pledged assets and collateral under the Credit Facility. As of March 31, 2021, $24.0 million in bank guarantees were outstanding. In addition, a subsidiary of the Company located in the Netherlands has a Euro-denominated bank guarantee agreement secured by local assets under which $3.4 million in bank guarantees were outstanding as of March 31, 2021. As of March 31, 2021, the borrowers of these facilities and agreements were in compliance with all related financial and other restrictive covenants.