NOTE 11 – DEBT

Long-term debt consisted of the following:


In thousands
	September 30, 2012		December 31, 2011
Obligations under capital leases	$	4,435	$	4,679
$1 billion revolver weighted average rate 1.71%, due in 2016		231,804		527,884
$100 million Private Placement notes 5.64%, due in 2015		100,000		100,000
$200 million Term Loan with rate of 1.09% due Dec 2012		200,000		0
$175 million Private Placement notes 3.89%, due in 2017		175,000		175,000
$225 million Private Placement notes 4.47%, due in 2020		225,000		225,000
Acquisition notes weighted average rate of 2.96% and weighted average maturity of 3.9 years		220,096		240,138
Foreign bank debt weighted average rate 5.94% and Weighted average maturity of 2.0 years		140,815		111,938

Total debt		1,297,150		1,384,639
Less: current portion of total debt		286,636		100,526

Long-term portion of total debt	$	1,010,514	$	1,284,113

Our $1.0 billion senior credit facility maturing in September 2016, our $100.0 million private placement notes maturing April 2015, our $175.0 million private placement notes maturing in October 2017, and our $225.0 million private placement notes maturing in October 2020, 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, 2012, we were in compliance with all of our financial debt covenants.

As of September 30, 2012 and December 31, 2011, we had $158.4 million and $159.1 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, 2012 and December 31, 2011 was $609.8 million and $313.0 million, respectively.

As of September 30, 2012 we had $200.0 million outstanding under a short term loan agreement. Proceeds from the Term Loan were used to pay down our senior credit facility. This loan matures in December 2012.

Guarantees

We have guaranteed a loan to JPMorganChase Bank N.A. on behalf of Shiraishi-Sogyo Co. Ltd (“Shiraishi”). Shiraishi is a customer in Japan that is expanding its medical waste management business and has a one year loan with a current balance of $6.3 million with JPMorganChase Bank N.A. that matures on May 31, 2013. We also have extended loans to Shiraishi for $15.4 million in support of its medical waste business. These amounts are collateralized with the assets of Shiraishi and related companies.