DEBT

Long-term debt consisted of the following:



In thousands
	September 30, 2015		December 31, 2014
Obligations under capital leases	$	8,390	$	9,185
$1.2 billion senior credit facility weighted average rate 1.51%, due in 2019	176,387		459,975
$1.5 billion term loan facility, due in 2020	—		—
$100 million private placement notes 5.64%, due in 2015	—		100,000
$175 million private placement notes 3.89%, due in 2017	175,000		175,000
$125 million private placement notes 2.68%, due in 2019	125,000		125,000
$225 million private placement notes 4.47%, due in 2020	225,000		225,000
$125 million private placement notes 3.26%, due in 2022	125,000		125,000
$200 million private placement notes 2.72%, due in 2022	200,000		—
$100 million private placement notes 2.79%, due in 2023	100,000		—
Promissory notes and deferred consideration weighted average rate of 3.74% and weighted average maturity of 3.5 years	271,568		279,590
Foreign bank debt weighted average rate 9.20% and weighted average maturity of 2.3 years	109,747		160,465
Total debt	1,516,092		1,659,215
Less: current portion of total debt	106,405		131,969
Long-term portion of total debt	$	1,409,687	$	1,527,246

Our $1.2 billion senior credit facility maturing in June 2019, our $175.0 million private placement notes maturing in October 2017, our $125.0 million private placement notes maturing in December 2019, our $225.0 million private placement notes maturing in October 2020, our $125.0 million private placement notes maturing in December 2022, our $200.0 million private placement notes maturing July 2022, and our $100.0 million private placement notes maturing in July 2023 all require us to comply with various financial, reporting and other covenants and restrictions, including a restriction on dividend payments. The financial debt covenants are the same for the senior credit facility and the private placement notes. At September 30, 2015, we were in compliance with all of our financial debt covenants.

As of September 30, 2015 and December 31, 2014, we had $149.2 million and $162.9 million, respectively, committed to outstanding letters of credit under our senior credit facility. The unused portion of the revolving credit facility as of September 30, 2015 and December 31, 2014 was $874.4 million and $577.1 million, respectively.

We repaid our $100.0 million private placement notes that matured in April 2015 by borrowing from our long-term senior credit facility.

On April 30, 2015, we entered into a note purchase agreement with several institutional purchasers pursuant to which we have issued and sold to the purchasers $200.0 million of our new seven-year 2.72% unsecured senior notes ("Series A") and $100.0 million of our new eight-year 2.79% unsecured senior notes ("Series B"). Closing of the issuance and sale of the notes occurred on July 31, 2015.

The Series A notes bear interest at the fixed rate of 2.72% per annum, and the Series B notes bear interest at the fixed rate of 2.79% per annum. Interest will be payable in arrears semi-annually on January 1 and July 1 beginning on January 1, 2016. The principal of the Series A notes will be payable at the maturity of the notes on July 1, 2022, and the principal of the Series B notes will be payable at the maturity of the notes on July 1, 2023. The notes are unsecured obligations.

The Company entered into a Term Loan Credit Agreement dated as of August 21, 2015 (the “Term Loan Credit Agreement”) with Bank of America, N.A., as the Administrative Agent maturing on August 21, 2020. The Term Loan Credit Agreement provides for a term loan facility (“Term Loan Facility”) under which the Company may obtain loans up to an aggregate amount of $1.5 billion.

Borrowings under the Term Loan Facility may bear interest at a Base Rate or Eurodollar Rate, respectively, plus the Applicable Rate. The Base Rate is for any day a fluctuating rate per annum equal to the highest of (i) the Federal Funds Rate plus 1/2 of 1.00%, (ii) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate” and (iii) the Eurodollar Rate plus 1.00%. The Eurodollar Rate is a rate per annum determined for the applicable interest period by reference to the London interbank offered rate. The Applicable Rate for any Base Rate Loans is between 0 and 100 basis points per annum, and the Applicable Rate for any Eurodollar Rate Loan is between 100 and 200 basis points per annum, in each case depending on the consolidated leverage ratio for the Company and its subsidiaries as set forth in the most recent compliance certificate received by the administrative agent.