Debt

A summary of borrowings under lines of credit and long-term debt as of the dates indicated is as follows:



In thousands	Maturity	April 30, 2015			October 31, 2014
Lines of credit - 0.7% Floating	October 31, 2016	$	33,037		$	32,929
2017 Notes - 8.875% Fixed	December 15, 2017	220,590			252,188
ABL Credit Facility - 2.1% to 4.6% Floating	May 24, 2018	60,779			35,933
2018 Notes - 7.875% Fixed	August 1, 2018	278,957			278,834
2020 Notes - 10.000% Fixed	August 1, 2020	222,743			222,582
Capital lease obligations and other borrowings - Various %	Various	4,661			6,124
Total debt		820,767			828,590
Less current portion		(35,285		)	(35,361		)
Long-term debt, net of current portion		$	785,482		$	793,229

As of April 30, 2015, the Company’s credit facilities allowed for total cash borrowings and letters of credit of $184 million. The total maximum borrowings and actual availability fluctuate with the amount of assets comprising the borrowing base under certain of the credit facilities. At April 30, 2015, the Company had a total of $94 million of direct borrowings and $28 million in letters of credit outstanding. As of April 30, 2015, the remaining availability for borrowings under the Company’s credit facilities was $45 million, $20 million of which could also be used for letters of credit in the United States and APAC. In addition to the $45 million of availability for borrowings, the Company also had $18 million in additional capacity for letters of credit in EMEA as of April 30, 2015. Many of the Company’s debt agreements contain customary default provisions and restrictive covenants. The Company is not subject to financial covenant restrictions unless remaining borrowing availability under the ABL Credit Facility was to fall below the greater of $15 million or 10.0% of total borrowing base availability.

The estimated fair value of the Company’s borrowings under lines of credit and long-term debt as of April 30, 2015 was $710 million, compared to a carrying value of $821 million. The fair value of the Company’s debt is calculated based on the market price of the Company’s publicly traded 2020 Notes, the trading prices of the Company’s 2018 Notes and 2017 Notes (all Level 1 inputs) and the carrying values of the Company’s other debt obligations due to the variable rate nature of those debt obligations.