Borrowings:

Debt consists of the following:



(DOLLARS IN THOUSANDS)	Rate		Maturities	September 30, 2016			December 31, 2015
Senior notes - 2006 ⁽¹⁾	6.14	%	2016	$	—		$	124,964
Senior notes - 2007 ⁽¹⁾	6.40	%	2017-27	499,638			499,618
Senior notes - 2013 ⁽¹⁾	3.20	%	2023	297,916			297,683
Euro Senior notes - 2016 ⁽¹⁾	1.75	%	2024	555,381			—
Credit facility	2.67	%	2019	—			131,196
Bank overdrafts and other				13,112			10,982
Deferred realized gains on interest rate swaps				1,829			3,279
				1,367,876			1,067,722
Less: Current portion of long-term debt				(257,675		)	(132,349		)
				$	1,110,201		$	935,373

⁽¹⁾ Amount is net of unamortized discount and debt issuance costs.

Senior Notes

On March 14, 2016, the Company issued Euro 500.0 million face amount of 1.75% Senior Notes ("Euro Senior Notes - 2016") due 2024 at a discount of Euro 0.9 million. The Company received proceeds related to the issuance of these Euro Senior Notes - 2016 of Euro 496.0 million which was net of the Euro 0.9 million discount and Euro 3.1 million underwriting discount (recorded as deferred financing costs). In addition, the Company incurred $1.3 million of other deferred financing costs in connection with the debt issuance. In connection with the debt issuance, the Company entered into pre-issuance hedging transactions that were settled upon issuance of the debt and resulted in a loss of approximately $3.2 million. The discount, deferred financing costs and pre-issuance hedge loss are being amortized as interest expense over the eight year term of the debt. The Euro Senior Notes - 2016 bear interest at a rate of 1.75% per annum, with interest payable on March 14 of each year, commencing on March 14, 2017. The Euro Senior Notes - 2016 will mature on March 14, 2024.

Upon 30 days’ notice to holders of the Euro Senior Notes - 2016 , the Company may redeem the Euro Senior Notes - 2016 for cash in whole, at any time, or in part, from time to time, prior to maturity, at redemption prices that include accrued and unpaid interest and a make-whole premium, as specified in the indenture governing the Euro Senior Notes - 2016. However, no make-whole premium will be paid for redemptions of the Euro Senior Notes - 2016 on or after December 14, 2023. The indenture provides for customary events of default and contains certain negative covenants that limit the ability of the Company and its subsidiaries to grant liens on assets, or to enter into sale-leaseback transactions. In addition, subject to certain limitations, in the event of the occurrence of both (1) a change of control of the Company and (2) a downgrade of the Euro Senior Notes - 2016 below investment grade rating by both Moody’s Investors Services, Inc. and Standard & Poor’s Ratings Services within a specified time period, the Company will be required to make an offer to repurchase the Notes at a price equal to 101% of the principal amount of the Euro Senior Notes - 2016, plus accrued and unpaid interest to the date of repurchase.

As discussed in Note 11, the Euro Senior Notes - 2016 have been designated as a hedge of the Company's net investment in certain subsidiaries.

During the third quarter of 2016, the Company made a final payment of $125.0 million on the Senior Notes - 2006.

Commercial Paper

During the fourth quarter of 2016, the Company issued $50 million face value of commercial paper.