Debt

The following table summarizes our outstanding debt as of June 30, 2016 and December 31, 2015 (in thousands):



Description	Type	Maturity Date	Weighted Average Interest Rate at June 30, 2016	June 30, 2016			December 31, 2015
Funding Debt:
ODAST Agreement ⁽¹⁾	Securitization Facility	May 2018	—%	$	—		$	174,980
PORT Agreement	Revolving	June 2017	2.7%	78,289			59,415
RAOD Agreement	Revolving	May 2017	3.4%	99,985			47,465
ODART Agreement	Revolving	September 2017	3.2%	62,402			42,090
ODAC Agreement	Revolving	May 2017	9.7%	55,002			27,699
SBAF Agreement	Revolving	Various ⁽²⁾	6.6%	7,625			12,783
ODAP Agreement	Revolving	August 2017 ⁽³⁾	5.0%	—			8,819
ODAST II Agreement	Securitization Facility	May 2020 ⁽⁴⁾	4.7%	250,000			—
Partner Synthetic Participations	Term	Various ⁽⁵⁾	Various	5,568			6,861
				558,871			380,112
Deferred Debt Issuance Cost				(4,948		)	(4,222		)
Total Funding Debt				$	553,923		$	375,890

Corporate Debt:
Square 1 Agreement	Revolving	October 2016	4.5%	$	2,700		$	2,700
Deferred Debt Issuance Cost				(2		)	(5		)
Total Corporate Debt				$	2,698		$	2,695

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(1)	This debt facility was terminated in May 2016


(2)	Maturity dates range from August 2016 through August 2017


(3)	The period during which new borrowings may be made under this debt facility expires in August 2016


(4)	The period during which remaining cash flow can be used to purchase additional loans expires April 30, 2018


(5)	Maturity dates range from July 2016 through June 2018

On April 28, 2016, we amended the ODAC Agreement to increase the revolving commitment from an aggregate amount of $50 million to $75 million, increase the interest rate from LIBOR plus 8.25% to LIBOR plus 9.25%, increase in the borrowing base advance rate from 70% to 75% and make certain other related changes.

On May 17, 2016, we, through a wholly-owned subsidiary, ODAST II, entered into a $250 million asset-backed securitization facility with Deutsche Bank Trust Company Americas, as indenture trustee. The notes under the facility were issued in two classes; Class A in the amount of $211.5 million and Class B in the amount of $38.5 million. The Class A and Class B notes bear interest at a fixed rate of 4.21% and 7.63%, respectively. Interest only payments began in June 2016 and are payable monthly through May 2018. Beginning June 2018, monthly payments will consist of both principal and interest with a final maturity of May 2020. Concurrent with the closing of the ODAST II securitization, we voluntarily prepaid in full $175 million of funding debt outstanding from our prior securitization transaction, ODAST. The remaining unamortized deferred issuance costs related to ODAST of $1.6 million were written-off and are included within Funding Costs on the unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2016.

On June 17, 2016, we amended the ODART agreement to reintroduce Class B revolving loans from the Class B Revolving Lender resulting in additional funding capacity of $12.4 million, thereby increasing the total revolving commitment from $150 million to $162.4 million, establishing a Class B interest rate equal to LIBOR plus 8%, a borrowing base advance rate for the Class B revolving loans of 92% and make certain other changes.