12.

DEBT

At June 30, 2015, and December 31, 2014, debt comprised the following:

(In thousands)		Maturity Dates	June 30, 2015		December 31, 2014
Unsecured private placement notes
	3.86%	2019-2025	$	100,000	$	100,000
	4.86%	2017-2023		65,000		65,000
	5.88%	2016-2022		40,000		40,000
	5.69%	2015-2018		22,857		22,857
	6.86%	2015		4,284		4,284
Unsecured U.S. bank debt		2019		10,000		20,000
Debt of foreign subsidiaries
Unsecured bak debt, foreign currency		2015		10,064		12,043
Unsecured bank term loan, foreign currency		2021		4,137		4,840
Secured bank term loan, foreign currency		2015		278		2,723
Secured bank debt, foreign currency		2015		3,350		1,638
Unsecured bank debt, U.S. dollars		2015		500		546
Total debt			$	260,470	$	273,931
Less current maturities				24,826		27,034
Long-term debt			$	235,644	$	246,897

The Company has a committed $125,000,000 multi-currency revolving credit agreement that expires in July 2019. The Company maintains standby letters of credit under its workers’ compensation insurance agreements and for other purposes, as needed from time to time, which are issued under the revolving credit agreement. As of June 30, 2015, the Company had outstanding letters of credit totaling $4,952,000 and outstanding borrowing of $10,000,000 under this agreement. There was $110,048,000 available under the revolving credit agreement as of June 30, 2015.

The various loan agreements contain provisions which, among others, require maintenance of certain financial ratios and place limitations on additional debt, investments and payment of dividends. Based on the loan agreement provisions that place limitations on dividend payments, unrestricted retained earnings (i.e., retained earnings available for dividend distribution) were $107,400,000 and $88,684,000 at June 30, 2015 and December 31, 2014, respectively.

On July 10, 2015, the Company completed a new $100,000,000 unsecured private placement loan. See Note 18.