Long-Term Debt and Loan Agreement

Long-term debt consisted of the following:



	June 30,		December 31,
	2015		2014
Loan Agreement	$	101,977	$	137,109
4.67% Senior Unsecured Notes due 2021	40,000		40,000
5.25% Senior Unsecured Notes due 2024	11,000		11,000
5.30% Senior Unsecured Notes due 2024	29,000		29,000
5.45% Senior Unsecured Notes due 2026	20,000		20,000
	201,977		237,109
Less unamortized deferred financing fees	592		680
	$	201,385	$	236,429

On December 13, 2013, the Company entered into a Fourth Amended and Restated Loan Agreement (the “Loan Agreement”). The Loan Agreement provided for a $200 million senior revolving credit facility expiring on December 13, 2018. In addition, on May 30, 2014, the Company entered into a First Amendment to the Loan Agreement (the "Loan Amendment"). The Loan Amendment increased the senior revolving credit facility from $200 million to $300 million through December 2018 and provided for an additional subsidiary of the Company as a borrower and as a guarantor of the credit facility. On July 2, 2014, the Company borrowed approximately $135.3 million under the Loan Agreement to fund the acquisition of Scepter. Amounts borrowed under the agreement are secured by pledges of stock of certain of our foreign and domestic subsidiaries.

Under the terms of the Loan Agreement, the Company may borrow up to $300 million, reduced for letters of credit issued. As of June 30, 2015, the Company had $193.7 million available under the Loan Agreement. The Company also had $4.3 million of letters of credit issued related to insurance and other financing contracts in the ordinary course of business at June 30, 2015. Borrowings under the Loan Agreement bear interest at the LIBOR rate, prime rate, federal funds effective rate, the Canadian deposit offered rate, or the eurocurrency reference rate depending on the type of loan requested by the Company, in each case plus the applicable margin as set forth in the Loan Agreement. The average interest rate on borrowings under our loan agreements for the three and six months ended June 30, 2015 were 4.61% and 4.58%. The average interest rate on borrowings under our loan agreements for the three and six months ended June 30, 2014 were 4.05% and 4.68%. The average interest rate calculation includes a quarterly facility fee on the used and unused portion.

Long-term debt at June 30, 2015 and December 31, 2014 includes $0.6 million and $0.7 million, respectively, of unamortized deferred financing costs, which are accounted for as debt valuation accounts.