At June 30, 2020 and December 31, 2019, long-term debt was comprised of the following:


	June 30,					December 31,
(in thousands)		2020			2019
Subordinated notes payable, maturing June 2045		$	150,000		$		150,000
Subordinated notes payable, maturing June 2060			172,500				—
Other long-term debt			73,786				87,890
Less: unamortized debt issuance costs			(10,017	)			(4,428	)
Total long-term debt		$	386,269		$		233,462

The following table sets forth unamortized debt issuance costs associated with the respective debt instruments as of June 30, 2020:

					Unamortized
					Debt
					Issuance
(in thousands)		Principal			Costs
Subordinated notes payable, maturing June 2045	$		150,000	$		4,340
Subordinated notes payable, maturing June 2060			172,500			5,677
Other long-term debt			73,786			—
Total	$		396,286	$		10,017

On June 9, 2020, the Company completed the issuance of subordinated notes payable with an aggregate principal amount of $172.5 million with a stated maturity of June 15, 2060. The notes accrue interest at a fixed rate of 6.25% per annum, with quarterly interest payments beginning September 15, 2020. Subject to prior approval by the Federal Reserve, the Company may redeem the notes in whole or in part on any interest payment date on or after June 15, 2025. This debt qualifies as tier 2 capital in the calculation of certain regulatory capital ratios. The proceeds from the issuance are intended for use for general corporate purposes, including providing capital to Hancock Whitney Bank if and when deemed appropriate.

On March 9, 2015, the Company completed the issuance of subordinated notes payable with an aggregate principal amount of $150 million with a stated maturity of June 15, 2045. These notes accrue interest at a fixed rate of 5.95% per annum, with quarterly interest payments that began in June 2015. Subject to prior approval by the Federal Reserve, the Company may redeem the notes in whole or in part on any interest payment date on or after June 15, 2020. This debt qualifies as tier 2 capital in the calculation of certain regulatory capital ratios.

Substantially all of the Company’s other long-term debt consists of borrowings associated with tax credit fund activities. Although these borrowings have indicated maturities through 2053, each is expected to be satisfied at the end of the seven-year compliance period for the related tax credit investments.