LONG-TERM DEBT

Long-term debt outstanding as of September 30, 2016 and December 31, 2015 consisted of the following:



(In thousands)	September 30, 2016			December 31, 2015
Senior Secured Credit Facilities⁽¹⁾	$	6,300,000		$	6,300,000
Receivables Based Credit Facility Due 2017⁽²⁾	230,000			230,000
9.0% Priority Guarantee Notes Due 2019	1,999,815			1,999,815
9.0% Priority Guarantee Notes Due 2021	1,750,000			1,750,000
11.25% Priority Guarantee Notes Due 2021	575,000			575,000
9.0% Priority Guarantee Notes Due 2022	1,000,000			1,000,000
10.625% Priority Guarantee Notes Due 2023	950,000			950,000
Subsidiary Revolving Credit Facility Due 2018⁽³⁾	—			—
Other secured subsidiary debt⁽⁴⁾	24,610			25,228
Total consolidated secured debt	12,829,425			12,830,043

14.0% Senior Notes Due 2021⁽⁵⁾	1,729,168			1,695,097
Legacy Notes⁽⁶⁾	667,900			667,900
10.0% Senior Notes Due 2018⁽⁷⁾	347,028			730,000
Subsidiary Senior Notes due 2022	2,725,000			2,725,000
Subsidiary Senior Subordinated Notes due 2020	2,200,000			2,200,000
Clear Channel International B.V. Senior Notes due 2020	225,000			225,000
Other subsidiary debt	28,663			165
Purchase accounting adjustments and original issue discount	(176,863		)	(204,611		)
Long-term debt fees	(120,918		)	(147,983		)
Total debt	20,454,403			20,720,611
Less: current portion	204,591			181,512
Total long-term debt	$	20,249,812		$	20,539,099


(1)	Term Loan D and Term Loan E mature in 2019.


(2)	The Receivables Based Credit Facility provides for borrowings up to the lesser of $535.0 million (the revolving credit commitment) or the borrowing base, subject to certain limitations contained in the Company's material financing agreements.


(3)	The Subsidiary Revolving Credit Facility provides for borrowings up to $75.0 million (the revolving credit commitment).


(4)	Other secured subsidiary debt matures at various dates from 2016 through 2045.


(5)	The 14.0% Senior Notes due 2021 are subject to required payments at various dates from 2018 through 2021. 2.0% per annum of the interest is paid through the issuance of payment-in-kind notes in the first and third quarters.


(6)	The Legacy Notes, all of which were issued prior to the acquisition of the Company by Parent in 2008, consist of Senior Notes maturing at various dates in 2016, 2018 and 2027.


(7)	On July 15, 2016, Broader Media, LLC, an indirect wholly-owned subsidiary of the Company, repurchased approximately $383.0 million aggregate principal amount of the Company's 10.0% Senior Notes due 2018 for an aggregate purchase price of approximately $222.2 million.

The Company’s weighted average interest rate as of September 30, 2016 and December 31, 2015 was 8.5%. The aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $16.5 billion and $15.2 billion as of September 30, 2016 and December 31, 2015, respectively. Under the fair value hierarchy established by ASC 820-10-35, the market value of the Company’s debt is classified as either Level 1 or Level 2.

Surety Bonds, Letters of Credit and Guarantees

As of September 30, 2016, the Company had outstanding surety bonds, commercial standby letters of credit and bank guarantees of $60.9 million, $99.0 million and $59.9 million, respectively. Bank guarantees of $26.1 million were backed by cash collateral. These surety bonds, letters of credit and bank guarantees relate to various operational matters including insurance, bid, concession and performance bonds as well as other items.

Solicitation of Consents for Senior Notes due 2021

On October 4, 2016, the Company announced the successful completion of the solicitation of consents (the “Consent Solicitation”) from holders of its outstanding Senior Notes due 2021 (the “2021 Notes”) to an amendment to the indenture governing the 2021 Notes (the “Indenture”) to increase the aggregate principal amount of indebtedness under Credit Facilities (as defined in the Indenture) permitted to be incurred under Section 4.09(b)(1) of the Indenture by $500.0 million to $17.3 billion. We paid an aggregate consent fee of $8.6 million to holders of the 2021 Notes that consented to the amendment in accordance with the terms of the Consent Solicitation, which will be amortized over the remaining term of the 2021 Notes.