10. Short and Long-Term Debt

Short and long-term debt is summarized as follows:



	March 31,		December 31,
	2018		2017

Domestic asset-based revolving credit facility	$	5,865	$	4,000
Capital expenditure loan facility		-		-
Foreign overdraft and letter of credit facility		1,253		1,250
Domestic term loan		6,000		6,250
Unamortized finance costs		(107)		(139)
Total debt		13,011		11,361
Less: current maturities		(2,063)		(2,040)
Total long-term debt	$	10,948	$	9,321

Domestic Credit Facilities

The Company and its domestic subsidiaries are parties to a credit facility with CIBC Bank USA (formerly known as The PrivateBank and Trust Company). The credit facility, as amended through March 31, 2018, provides for:

a $9,000 revolving credit facility, with a $200 sub facility for letters of credit. Under the revolving credit facility, the availability of funds depends on a borrowing base composed of stated percentages of the Company’s eligible trade receivables and eligible inventory, and eligible equipment less a reserve;

a $2,500 capital expenditure loan facility under which the Company at its election, can draw up to $2,500 for qualifying capital expenditures over the period ending December 15, 2018, with monthly amortization commencing after such time; and

a term loan in the original amount of $6,500.

The credit facility matures on December 15, 2022.

All of the borrowings under this agreement have been characterized as either a current or long-term liability on our balance sheet in accordance with the repayment terms described more fully below.

Weighted average interest on the revolving credit facility was 5.26% for the three months ended March 31, 2018 and 5.51% for the year ended December 31, 2017. The total availability on the revolving credit facility was approximately $3,135 and $5,000 at March 31, 2018 and December 31, 2017, respectively.

The outstanding principal balance of the term loan, as amended, is payable in quarterly installments of $250. Any remaining principal and accrued interest is payable on December 15, 2022. IntriCon is also required to use 100% of the net cash proceeds of certain asset sales (excluding inventory and certain other dispositions), sale of capital securities or issuance of debt to pay down the term loan.

The Company was in compliance with the financial covenants under the facility as of March 31, 2018.

Foreign Credit Facility

In addition to its domestic credit facilities, the Company’s wholly-owned subsidiary, IntriCon, PTE LTD., entered into an international senior secured credit agreement with Oversea-Chinese Banking Corporation Ltd. that provides for an asset based line of credit. Borrowings bear interest at a rate of .75% to 2.5% over the lender’s prevailing prime lending rate. Weighted average interest on the international credit facilities was 4.26% and 3.87% for the three months ended March 31, 2018 and the year ended December 31, 2017, respectively. The total remaining availability on the international senior secured credit agreement was approximately $571 and $545 at March 31, 2018 and December 31, 2017, respectively.