
3.	LONG-TERM DEBT

Long-term debt consists of the following:



	June 30, 2016		December 31, 2015
	(in millions)

Revolving Credit Facility	$	—	$	—
7.75% Notes	200.0		200.0
6.625% Notes	550.0		550.0
6.25% Notes	400.0		400.0
5.125% Notes	200.0		200.0
Foreign credit facilities	64.6		38.0
Capital lease obligations	5.3		5.6
Total debt	1,419.9		1,393.6
Less: Current portion of long-term debt	3.4		3.3
Long-term debt	1,416.5		1,390.3
Less: Debt issuance costs	13.2		14.6
Long-term debt, net	$	1,403.3	$	1,375.7

Revolving Credit Facility As of June 30, 2016, the revolving credit facility provided up to $523.5 million of revolving bank financing commitments through September 13, 2018. At June 30, 2016, we had $513.1 million available under the revolving credit facility. This availability reflects a reduction of $10.4 million for standby letters of credit issued against the facility.

The revolving credit facility provides back-up liquidity for our foreign credit facilities. We intend to use the availability of long-term financing under the revolving credit facility to refinance any current maturities related to such debt agreements that are not otherwise refinanced on a long-term basis in their local markets, except where otherwise reclassified to current portion of long-term debt on our Condensed Consolidated Balance Sheet.

Foreign credit facilities We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries. During the six months ended June 30, 2016, we increased the borrowings on our foreign credit facilities, primarily to fund capital expenditures and working capital in preparation for the launch of programs in China. At June 30, 2016, $64.6 million was outstanding under our foreign credit facilities and an additional $62.9 million was available.

The weighted-average interest rate of our long-term debt outstanding was 6.6% at June 30, 2016 and 6.5% at December 31, 2015.