DEBT

Short-term borrowings consist of lines of credit which are secured by certain assets of the Company and its subsidiaries and in some cases are guaranteed by the Company as summarized below (in thousands):



			Facilities Used
	Total Amount of Facilities		Short-term Borrowings		Letters of Credit		Facilities Available		Weighted average interest rate
February 28, 2015	$	59,387	$	4,470	$	380	$	54,537	5.86	%
August 31, 2014	$	61,869	$	—	$	436	$	61,433	N/A

As of February 28, 2015, we had approximately $40.0 million of short-term facilities in the U.S. that require us to comply with certain quarterly financial covenants, which include debt service and leverage ratios. As of February 28, 2015 and August 31, 2014, we were in compliance with respect to these covenants. Each of the facilities expires annually and is normally renewed.

The following table provides the changes in our long-term debt for the six months ended February 28, 2015:



(Amounts in millions)	Current Portion of Long-term debt			Long-term debt			Total
Balances as of August 31, 2014	$	11,848		$	79,591		$	91,439		⁽¹⁾
Proceeds from long-term debt incurred during the period:
Panama subsidiary	1,000			9,000			10,000
Honduras subsidiary	1,600			6,750			8,350
Colombia subsidiary	1,500			13,500			15,000
Trinidad subsidiary	907			2,720			3,627
Repayments of long-term debt:
Repayment of loan by Honduras subsidiary, originally entered into on January 12, 2012 with Scotiabank El Salvador, S.A.	(3,200		)	—			(3,200		)
Partial repayment of loan by Honduras subsidiary, originally entered into on March 7, 2014 with Banco de America Central Honduras, S.A.	—			(5,000		)	(5,000		)
Repayment of loan by Honduras subsidiary, originally entered into on March 6, 2010 with Banco del Pais, S.A.	(87		)	—			(87		)
Repayment of loan by Trinidad subsidiary, originally entered into on August 26, 2008 with Royal Bank of Trinidad and Tobago, Ltd.	(900		)	(2,325		)	(3,225		)
Regularly scheduled loan payments	(579		)	(4,567		)	(5,146		)
Reclassifications of long-term debt	2,850			(2,850		)	—
Translation adjustments on foreign-currency debt of subsidiaries whose functional currency is not the U.S. dollar ⁽²⁾	(147		)	(6,491		)	(6,638		)
Balances as of February 28, 2015	$	14,792		$	90,328		$	105,120		⁽³⁾


⁽¹⁾	The carrying amount cash assets assigned as collateral for this total was $24.6 million and the carrying amount on non-cash assets assigned as collateral for this total was $84.2 million.


⁽²⁾	These foreign currency translation adjustments are recorded within Other comprehensive income.


⁽³⁾	The carrying amount cash assets assigned as collateral for this total was $24.0 million and the carrying amount on non-cash assets assigned as collateral for this total was $103.5 million.

As of February 28, 2015, the Company had approximately $78.3 million of long-term loans in Trinidad, Panama, El Salvador, Honduras and Colombia that require these subsidiaries to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. As of February 28, 2015, we were in compliance with all covenants or amended covenants.

As of August 31, 2014, we had approximately $62.5 million of long-term loans in Trinidad, Panama, El Salvador, Honduras and Colombia that require these subsidiaries to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. As of August 31, 2014, we were in compliance with all covenants or amended covenants.

Annual maturities of long-term debt are as follows (in thousands):



Twelve months ended February 28,	Amount
2016	$	14,792
2017	29,679
2018	12,626
2019	12,176
2020	32,021
Thereafter	3,826
Total	$	105,120