Details of the Company’s debt as of June 30, 2020 and December 31, 2019 were as follows (dollars in thousands):



	June 30, 2020					December 31, 2019
	Outstanding				Average	Outstanding				Average
	Current		Long-term		Interest	Current		Long-term		Interest	Maturity

Revolving credit	$	2,000	$	695,000	1.7%	$	-	$	624,000	3.3%	June 2023
Revolving credit facility - Rail (1)		-		137,500	1.7%		-		137,500	3.3%	October 2023
Revolving credit facility - Euro		21,561		-	2.0%		21,537		-	2.0%	September 2020
Term loan		1,800		24,600	2.8%		1,800		25,500	3.9%	April 2023
Term loan		72,000		-	2.7%		7,000		68,500	3.5%	June 2021
Term loan		14,647		-	3.4%		15,284		-	3.4%	December 2020
Term loan		3,071		36,086	3.6%		3,016		37,635	3.6%	August 2021
Term loan		6,000		83,500	4.6%		6,000		86,500	4.6%	October 2023
Senior secured notes		6,110		43,610	4.9%		6,110		46,665	4.9%	September 2022
Asset-backed notes 2012-1 (2)		-		-	-		17,100		31,350	3.5%	-
Asset-backed notes 2013-1 (2)		-		-	-		22,900		51,525	3.4%	-
Asset-backed notes 2017-1		25,307		151,842	3.7%		25,307		164,496	3.7%	June 2042
Asset-backed notes 2018-1		34,890		232,600	4.0%		34,890		250,045	4.0%	February 2043
Asset-backed notes 2018-2		34,350		249,038	4.4%		34,350		266,213	4.4%	September 2043
Collateralized financing obligations		27,808		54,455	0.8%		21,681		69,615	1.5%	February 2026
Term loans held by VIE		5,367		28,520	4.2%		5,250		31,234	4.2%	February 2026
		254,911		1,736,751			222,225		1,890,778
Debt issuance costs		(3,661)		(8,441)			(4,131)		(10,656)
Total Debt	$	251,250	$	1,728,310		$	218,094	$	1,880,122

(1) The maximum credit commitment under the Rail revolving credit facility was decreased on July 2, 2020 from $250 million to $150 million.

(2) On April 27, 2020, the Company repaid in full the outstanding debt associated with the asset-backed notes 2012-1 and 2013-1.

The Company maintains its revolving credit facilities to finance the acquisition of rental equipment and for general working capital purposes. As of June 30, 2020, the Company had $521.9 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, 2020, the borrowing availability under the Company’s revolving credit facilities was $162.7 million, assuming no additional contributions of assets.

The agreements relating to all of the Company’s debt contain various financial and other covenants. As of June 30, 2020, the Company was in compliance with all of its financial and other covenants.

In early July 2020, the Company completed an interest rate hedging transaction swapping one month LIBOR for a fixed rate of 0.29% on $500 million of its floating rate debt for a term of five years.

For further information on the Company’s debt instruments, see Note 10 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 5, 2020.