Note 5 — Debt

(In millions)	March 31, 2015		December 31, 2014
Working capital line of credit — China	$	0.2	$	1.3
Short-term borrowings		0.2		1.3
Senior unsecured credit facility — revolving loan due 2019		480.0		—
Senior secured credit facility — revolving loan due 2018		—		415.0
Long-term debt		480.0		415.0
Total debt	$	480.2	$	416.3

At March 31, 2015, total borrowings under our $700 million Senior Unsecured Credit Facility (the “Facility”) were $480 million. The Facility permits us to issue letters of credit up to an aggregate amount of $40.0 million. Outstanding letters of credit reduce the amount available for borrowing under our revolving loan. As of March 31, 2015, we had issued letters of credit under the Facility totaling $1.7 million, resulting in undrawn availability under the Facility as of March 31, 2015 of $218.3 million.

The Facility contains financial and other covenants, including, but not limited to, restrictions on the incurrence of debt and the granting of liens, as well as the maintenance of an interest coverage ratio and a leverage ratio. In accordance with the terms of the Facility, we are required to maintain a minimum interest coverage ratio of 3.50 (based on the ratio of EBITDA, as defined in the credit agreement, to interest expense) and may not exceed a maximum leverage ratio of 3.50 (based on the ratio of total debt to EBITDA) throughout the term of the Facility. In addition, the Facility contains other terms and conditions such as customary representations and warranties, additional covenants and customary events of default.