Note 6—Debt

Debt consisted of the following (amounts in thousands):

	March 31, 2013		December 31, 2012

Asset backed securitization (ABS) term notes	$	1,559,357	$	1,343,826
Term loan facilities		762,767		698,570
Asset backed warehouse facility		—		355,000
Revolving credit facilities		266,000		75,000
Capital lease obligations		123,478		131,619

Total debt	$	2,711,602	$	2,604,015

As of March 31, 2013, the Company had $1,514.8 million of debt outstanding on facilities with fixed interest rates and $1,196.8 million of debt outstanding on facilities with interest rates based on floating rate indices (primarily LIBOR). The Company economically hedges the risks associated with fluctuations in interest rates on a portion of its floating rate borrowings by entering into interest rate swap agreements that convert a portion of its floating rate debt to a fixed rate basis, thus reducing the impact of interest rate changes on future interest expense. As of March 31, 2013, the Company had interest rate swaps in place with a net notional amount of $765.8 million to fix the floating interest rates on a portion of its floating rate debt obligations.

The Company is subject to certain financial covenants under its debt facilities, and as of March 31, 2013, was in compliance with all such covenants.

Asset Backed Securitization Term Notes

In February 2013, the Company issued $253 million of Class A fixed rate secured notes and $18.8 million of Class B fixed rate secured notes under the Asset Backed Securitization ("ABS") facilities.

Revolving Credit Facilities

In March 2013, the Company closed a $450 million senior secured revolving credit facility.