(10) Debt

Details of the Company’s debt as of June 30, 2019 and December 31, 2018 were as follows (dollars in thousands):



	June 30, 2019					December 31, 2018
	Outstanding				Average	Outstanding				Average
	Current		Long-term		Interest	Current		Long-term		Interest	Maturity

Revolving credit	$	13,000	$	391,500	3.9%	$	4,200	$	301,000	4.2%	June 2023
Revolving credit facility - Rail (1)		-		189,500	3.9%		-		272,500	4.2%	October 2023
Revolving credit facility - Euro		-		19,338	2.0%		-		19,457	2.0%	September 2020
Term loan		1,800		26,400	4.6%		1,800		27,300	4.5%	April 2023
Term loan		107,250		-	4.0%		111,750		-	3.8%	October 2019
Term loan		7,000		72,000	4.3%		7,000		75,500	4.0%	June 2021
Term loan (1)		1,262		14,647	3.4%		1,240		15,284	3.4%	December 2020
Term loan (1)		2,962		39,157	3.6%		2,909		40,651	3.6%	August 2021
Term loan		6,000		89,500	4.6%		6,000		92,500	4.6%	October 2023
Senior secured notes		6,110		49,720	4.9%		6,110		52,775	4.9%	September 2022
Asset-backed notes 2012-1		17,100		39,900	3.5%		17,100		48,450	3.5%	October 2027
Asset-backed notes 2013-1		22,900		62,975	3.4%		22,900		74,425	3.4%	March 2028
Asset-backed notes 2017-1		25,307		177,149	3.7%		25,307		189,802	3.7%	June 2042
Asset-backed notes 2018-1		34,890		267,490	4.0%		34,890		284,935	4.0%	February 2043
Asset-backed notes 2018-2		34,350		283,388	4.4%		34,350		300,563	4.4%	September 2043
Collateralized financing obligations		32,939		82,424	1.5%		39,610		67,615	1.2%	December 2021
Term loans held by VIE		5,131		33,887	4.2%		1,456		-	3.3%	June 2019
		318,001		1,838,975			316,622		1,862,757
Debt issuance costs		(4,937)		(13,117)			(5,241)		(15,124)
Total Debt	$	313,064	$	1,825,858		$	311,381	$	1,847,633

(1) These facilities will be repaid upon the sale of the railcar assets.

The Company maintains its revolving credit facilities to finance the acquisition of rental equipment and for general working capital purposes. As of June 30, 2019, the Company had $1,065.0 million in total availability under its revolving credit facilities (net of $0.1 million in letters of credit), subject to the Company’s ability to meet the collateral requirements under the agreements governing the facilities. Based on the borrowing base and collateral requirements at June 30, 2019, the borrowing availability under the Company’s revolving credit facilities was $102.7 million, assuming no additional contributions of assets.

On March 29, 2019, one of the Japanese investor funds that is consolidated by the Company as a VIE (see Note 4) entered into a term loan agreement with a bank. Under the terms of the term loan agreement, the Japanese investor fund entered into a seven-year, amortizing term loan of $40.8 million at a fixed interest rate of 4.2%. The term loan is secured by assets of the Japanese investor fund, and is subject to certain borrowing conditions set out in the term loan agreement.

The agreements relating to all of the Company’s debt contain various financial and other covenants. As of June 30, 2019, the Company was in compliance with all of its financial and other covenants.

For further information on the Company’s debt instruments, see Note 8 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on March 5, 2019.