DEBT

The following is a summary of debt outstanding as of March 31, 2016 and December 31, 2015:



	March 31			December 31
	2016			2015
Loans under facilities:
Revolver	$	390		$	340
Tranche B term loan	690			691
Tranche C term loan	1,871			1,876
Debt discount	(8		)	(8		)
Unamortized debt issuance fees	(10		)	(10		)
Other debt, primarily foreign instruments	182			163
	3,115			3,052
Less:
Short-term debt, including current maturities of long-term debt	(157		)	(138		)
Total long-term debt	$	2,958		$	2,914

During the three months ended March 31, 2016 the Company increased its borrowing capacity under its revolving line of credit by $50 million up to $600 million.

The Replacement Revolving Facility has an available borrowing base of $170 million and $40 million of letters of credit outstanding at March 31, 2016, pertaining to the term loan credit facility. To the extent letters of credit associated with the Replacement Revolving Facility are issued, there is a corresponding decrease in borrowings available under this facility.

Interest expense associated with the amortization of the debt issuance costs recognized in the Company’s condensed consolidated statements of operations, consists of the following:



	Three Months Ended
	March 31
	2016		2015
Amortization of debt issuance fees	$	1	$	1