Long-term Debt

Total long-term debt consists of the following (in millions):



	December 31,		December 31,
	2016		2015
Amounts borrowed (Credit Facility)	$	336.0	$	47.0
Obligations under capital leases (Note 9)	11.7		13.4
Total long-term debt	$	347.7	$	60.4

The Company has a Credit Facility with a borrowing capacity of $600 million, as of December 31, 2016. On November 4, 2016, the Company entered into a ninth amendment to the Credit Facility (the "Ninth Amendment"), which increased its Credit Facility from $450 million to $600 million. The Credit Facility has an expansion feature which can be increased up to an additional $100 million, limited by a borrowing base primarily consisting of eligible accounts receivable and inventories. All obligations under the Credit Facility are secured by first priority liens on substantially all of the Company’s present and future assets. The terms of the Credit Facility permit prepayment without penalty at any time (subject to customary breakage costs with respect to London Interbank Offer Rate ("LIBOR") or Canadian Dollar Offer Rate ("CDOR") based loans prepaid prior to the end of an interest period). This will be subject to the same borrowing base limitations as the Eighth amendment.

On May 16, 2016, the Company entered into an eighth amendment to the Credit Facility ("Eighth amendment"), which increased the size of the Credit Facility from $300 million to $450 million. In addition, the Eighth amendment allows for unlimited stock repurchases and dividends, as long as the Company meets certain credit availability percentages and fixed charge coverage ratios.

The Credit Facility matures in May 2020. The Company incurred fees of approximately $1.3 million in connection with the amendments.

Amounts borrowed, outstanding letters of credit and amounts available to borrow, net of certain reserves required under the Credit Facility, were as follows (in millions):



	December 31,		December 31,
	2016		2015
Amounts borrowed	$	336.0	$	47.0
Outstanding letters of credit	17.4		18.5
Amounts available to borrow ⁽¹⁾	224.8		123.9

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(1)	Excluding $100 million expansion feature.

Average borrowings during the years ended December 31, 2016 and 2015 were $184.4 million and $39.6 million, respectively, with amounts borrowed at any one time during the years then ended ranging from zero to $428.0 million and zero to $120.9 million, respectively.

The weighted-average interest rate on the Credit Facility for the years ended December 31, 2016 and 2015 were 1.7%, and 1.6%, respectively. The weighted-average interest rate is calculated based on the daily cost of borrowing, reflecting a blend of prime and LIBOR rates. The Company paid fees for unused credit facility and letter of credit participation, which are included in interest expense, of $0.7 million, $0.6 million, and $0.7 million for December 31, 2016, 2015 and 2014, respectively. The Company recorded charges related to amortization of debt issuance costs, which are included in interest expense, of $0.5 million, $0.3 million, and $0.3 million for the years ended December 31, 2016, 2015 and 2014, respectively. Unamortized debt issuance costs were $2.3 million and $1.2 million as of December 31, 2016 and 2015, respectively.