	December 31,			March 31,
	2020			2021
	(In millions)
Valhi:
Contran credit facility	$	270.7		$	268.4
Subsidiary debt:
Kronos:
Senior Notes		485.7			465.0
BMI:
Bank loan - Western Alliance Bank		16.3			16.3
LandWell:
Note payable to Western Alliance Business Trust		14.2			14.2
Other		1.7			1.6
Total subsidiary debt		517.9			497.1
Total debt		788.6			765.5
Less current maturities		(2.4	)		(2.4	)
Total long-term debt	$	786.2		$	763.1

Valhi – Contran credit facility – During the first three months of 2021, we had no borrowings and repaid $2.3 million under this facility. The average interest rate on the existing balance for the three months ended March 31, 2021 was 4.25%. At March 31, 2021, the interest rate was 4.25% and $51.6 million was available for borrowing under this facility.

Kronos – Senior Notes - At March 31, 2021, the carrying value of Kronos’ 3.75% Senior Secured Notes due September 15, 2025 (€400 million aggregate principal amount outstanding) is stated net of unamortized debt issuance costs of $4.3 million.

Revolving credit facilities– On April 20, 2021, Kronos entered into a new global $225 million revolving credit facility (“Global Revolver”) which matures in April 2026. The Global Revolver replaces Kronos’ previously existing North American and European revolving credit facilities and there were no borrowings on either facility in 2021 through their termination concurrent with entering into the Global Revolver. The full $225 million was available for borrowing upon the commencement of the Global Revolver. Borrowings under the Global Revolver are available for Kronos’ general corporate purposes. Available borrowings are based on formula-determined amounts of eligible trade receivables and inventories, as defined in the agreement, less any outstanding letters of credit issued under the Global Revolver. Borrowings by Kronos’ Canadian, Belgian and German subsidiaries are limited to $25 million, €30 million and €60 million, respectively. Any amounts outstanding under the Global Revolver bear interest, at Kronos’ option, at the applicable non-base rate (LIBOR, CDOR or EURIBOR, dependent on the currency of the borrowing) plus a margin ranging from 1.5% to 2.0%, or at the applicable base rate, as defined in the agreement, plus a margin ranging from .5% to 2.0%. The Global Revolver is collateralized by, among other things, a first priority lien on the borrowers’ trade receivables and inventories. The facility contains a number of covenants and restrictions customary in lending transactions of this type which, among other things, restrict the borrowers’ ability to incur additional debt, incur liens, pay additional dividends or merge or consolidate with, or sell or transfer all or substantially all of their assets to another entity and, under certain conditions, requires the maintenance of a fixed charge coverage ratio, as defined in the agreement, of at least 1.0 to 1.0.

Other – We are in compliance with all of our debt covenants at March 31, 2021.