	December 31,			December 31,
(In millions)	2018			2017
Current portion of capital lease	$	0.3		$	—
Current portion of Euro term loan		9.1		4.3
Current portion of debt		9.4			4.3

Non-current portion of Euro term loan	51.4			63.3
Senior unsecured credit facility – due 2021		202.0			50.0
4.7% senior notes — due 2025		300.0			300.0
3.95% senior notes — due 2027		400.0			400.0
Senior notes — original issue discount		(2.0	)		(2.3	)
Senior notes — deferred financing costs		(4.8	)		(5.5	)
Non-current portion of capital leases and other		0.8			0.1
Long-term debt		947.4			805.6
Total debt	$	956.8		$	809.9

In 2017, the Company issued $400 million in aggregate principal amount of 3.95% Senior Unsecured Notes due in 2027. The interest rate on these senior notes may be increased by 0.25% each time a credit rating applicable to the notes is downgraded. The maximum rate is 5.95%. The net proceeds of approximately $394.6 million were initially used to repay, in part, $350 million of our Senior Unsecured Revolving Credit Facility (the “Facility”) and the remainder was used for general purposes including share repurchases. The effective interest rate for 2018 was 3.88% inclusive of approximately a 0.25% benefit of treasury locks. The fair value of the senior notes due in 2027 based on quoted prices utilizing Level 2 inputs was $386.6 million at December 31, 2018. The balance of unamortized deferred financing costs and debt discount related to the senior notes was $4.4 million at December 31, 2018 and $5.0 million at December 31, 2017.

In 2016, the Company amended and extended its $700 million Facility, which matures in June 2021. The amendment provided for a modest reduction in interest costs, as well as less restrictive covenants. The interest rate for the revolver at December 31, 2018 is LIBOR + 1.25%. The interest rate ranges from LIBOR + 0.875% to a maximum of LIBOR + 1.875%, depending upon the Company’s leverage ratio.

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.

As of December 31, 2018, total borrowings under our $700 million Facility were $202.0 million, which approximates fair value using Level 2 inputs. The Facility permits us to issue letters of credit up to an aggregate amount of $40 million. Outstanding letters of credit reduce the amount available for borrowing under our Facility. As of December 31, 2018, there were no outstanding letters of credit under the Facility, resulting in undrawn availability under the Facility as of December 31, 2018 of $498.0 million. The weighted average interest rate for the Facility was 3.42% during 2018.

In 2015, the Company issued $300 million in aggregate principal amount of 4.7% Senior Unsecured Notes due in 2025. The interest rate on these senior notes may be increased by 0.25% each time a credit rating applicable to the notes is downgraded. The maximum rate is 6.7% and the rate at December 31, 2018 remained at 4.7%. The net proceeds of approximately $296.4 million were initially used to repay, in part, our Facility. The conditions and covenants related to the senior notes are less restrictive than those of our Facility. The effective interest rate for 2018 was 4.84%. The fair value of the senior notes based on quoted prices utilizing level 2 inputs was $307.8 million at December 31, 2018. The balance for unamortized deferred financing costs and debt discount related to the senior notes was $2.4 million at December 31, 2018 and $2.8 million at December 31, 2017.

In June 2016, we also entered into a $67.4 million European term loan. The loan has two tranches of which the first tranche for €25 million has a rate of Euribor +1.2% and a final maturity date of June 30, 2023. The second tranche for €35 million a rate of Euribor +1.25% and a final maturity date of June 30, 2024. There is a zero percent floor on the Euribor. The loans are payable in annual installments, that began on June 30, 2017 and beginning on June 30, 2019, respectively. We had $60.5 million outstanding under this loan at December 31, 2018, which approximates fair value using level 2 inputs under the market approach. The facility is guaranteed by Hexcel Corporation. Required payments for the next five years and thereafter are as follows: $9.1 million for 2019 through 2022, $14.1 million for 2023 and $10.0 million thereafter.

We have a $10.0 million revolving credit line for working capital needs in China with no outstanding balance at December 31, 2018. These funds can only be used locally. The facility is guaranteed by Hexcel Corporation, but is uncommitted and cancellable by the lender at any time.