DEBT

6 Months Ended

Jun. 30, 2022

(6) DEBT

Long-term debt, net, consisted of the following as of June 30, 2022 and December 31, 2021:


	June 30, 2022		December 31, 2021
Term Loan due 2027 at 3.87% and 2.84% at June 30, 2022 and December 31, 2021, respectively	$	2,150.7	$	2,161.7
Senior Secured Notes due 2028 at 4.125% at both June 30, 2022 and December 31, 2021	850.0		850.0
ABL Revolving Credit Facility	175.0		—
Unamortized discount and issuance costs	(36.4)		(39.4)
	3,139.3		2,972.3
Less: Current Portion	(21.8)		(21.8)
Total long-term debt, net of current portion	$	3,117.5	$	2,950.5

ABL Revolving Credit Facility

At June 30, 2022, Vertiv Group Corporation (a wholly-owned subsidiary of the Company), as the “Borrower,” and certain subsidiaries of the Borrower as co-borrowers (the “Co-Borrowers”), had $262.3 of availability under the Asset Based Revolving Credit Facility (the “ABL Revolving Credit Facility“) (subject to customary conditions, and subject to separate sublimits for letters of credit, swingline borrowings and borrowings made to certain non-U.S. Co-Borrowers), net of letters of credit outstanding in the aggregate principal amount of $17.7, and taking into account the borrowing base limitations set forth in the ABL Revolving Credit Facility. At June 30, 2022, there was a $175.0 balance on the ABL Revolving Credit Facility with a weighted-average borrowing rate of 2.44%. At December 31, 2021, there was no borrowing balance on the ABL Revolving Credit Facility.

Short-Term Borrowings

As of June 30, 2022, we had short-term borrowings of $17.9 with a borrowing rate of 3.7% included in “Accrued expenses and other liabilities” on the Unaudited Condensed Consolidated Balance Sheets.