The components of the Company’s outstanding long-term debt were as follows (in thousands):

	Carrying Value of Debt
	May 1, 2021			January 30, 2021
Term Loan (principal of $4,992 and $5,007, respectively)	$	4,958		$	4,904
Priming Loan (principal of $229,088 and $229,773, respectively)		223,011			223,296
Subordinated Facility (principal and paid-in kind interest of $16,181 and $15,666, respectively)		3,772			3,311
Less: Current portion		(2,799	)		(2,799	)
Net long-term debt	$	228,942		$	228,712

The Company is party to a term loan credit agreement, dated as of May 8, 2015, by and among Jill Holdings, Inc. (as successor to Jill Holdings LLC), Jill Acquisition LLC, a wholly-owned subsidiary of us, and the various lenders party thereto, as amended on May 27, 2016 by Amendment No. 1 thereto, as further amended by Amendment No. 2 thereto (the “Term Loan”).

The Company is party to a senior secured priming term loan facility, dated August 31, 2020 (the “Priming Loan” and, the lenders thereunder, the “Priming Lenders”).

The Company is party to a secured $40.0 million asset-based revolving credit facility agreement (the “ABL Facility”) with a maturity date of May 8, 2023.

The Company had short-term borrowings of $23.0 million and $11.1 million under the Company’s ABL Facility as of May 1, 2021 and January 30, 2021, respectively. The Company’s available borrowing capacity under the ABL Facility as of May 1, 2021 and January 30, 2021 was $14.1 million and $23.8 million, respectively. As of May 1, 2021 and January 30, 2021, there were outstanding letters of credit of $2.9 million which reduced the availability under the ABL Facility. As of May 1, 2021, the maximum commitment for letters of credit was $10.0 million.