Note 12—Debt

Our total debt as of September 30, 2017 and December 31, 2016 was as follows:


	September 30, 2017						December 31, 2016
(in millions of U.S. dollars)	Principal		Unamortized Debt Issuance Costs		Net		Principal		Unamortized Debt Issuance Costs		Net
10.000% senior notes due in 2021 ¹		271.1		—		271.1		384.2		—		384.2
5.500% senior notes due in 2024		531.1		9.8		521.3		474.1		9.8		464.3
5.500% senior notes due in 2025		750.0		11.2		738.8		—		—		—
Capital leases		5.4		—		5.4		5.8		—		5.8

*Total debt*		1,557.6		21.0		1,536.6		864.1		9.8		854.3
Capital leases - current maturities		2.6		—		2.6		2.9		—		2.9

*Total current debt*		2.6		—		2.6		2.9		—		2.9

*Total long-term debt*	$	1,555.0	$	21.0	$	1,534.0	$	861.2	$	9.8	$	851.4

^1.	Includes unamortized premium of $21.1 million and $34.2 million at September 30, 2017 and December 31, 2016, respectively. The effective interest rate is 7.515%.

5.500% Senior Notes due in 2025 (the “2025 Notes”)

On March 22, 2017, we issued $750.0 million of 2025 Notes to qualified purchasers in a private placement offering under Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. purchasers pursuant to Regulation S under the Securities Act and other applicable laws. The 2025 Notes were issued by our wholly-owned subsidiary Cott Holdings Inc., and most of our U.S., Canadian, U.K., Luxembourg and Dutch subsidiaries guarantee the 2025 Notes. The 2025 Notes will mature on April 1, 2025 and interest is payable semi-annually on April 1st and October 1st of each year commencing on October 1, 2017.

We incurred $11.7 million of financing fees in connection with the issuance of the 2025 Notes. The financing fees are being amortized using the effective interest method over an eight-year period, which represents the term to maturity of the 2025 Notes.

10.000% Senior Notes due in 2021 (the “DSS Notes”)

On May 5, 2017, we used a portion of the proceeds from the issuance of the 2025 Notes to purchase $100.0 million in aggregate principal amount of the DSS Notes. The redemption included $7.7 million in premium payments, accrued interest of $1.8 million, and the write-off of $9.2 million of unamortized premium.