As at September 30, 20171 Drawn Total Facility Cash-pay rate Current all-in rate6 Maturity
US$ m US$ m LC2 m
2018 Euro Term Loan 237.1 237.1 EUR 200.8 5.0% 6.0%3 2018
2019 Euro Term Loan 277.8 277.8 EUR 235.3 5.0% 6.0%3 2019
2021 Euro Term Loan 553.5 553.5 EUR 468.8 5.0% 6.0%3 2021
2021 Revolving Credit Facility - 115.04 USD 115.0 L+5.0% L+7.0%5 2021
Lease Obligations 7.8 -
-
Var.  Var. Var.
Total debt 1,076.1  
Accrued guarantee and commitment fees60.0 
Total debt and related payables 1,136.1  
Less: Unrestricted cash (67.0)  
Net debt 1,069.1  
Weighted average borrowing cost of gross debt​6 6.00%  

1Debt in currencies other than US$ are translated at FX rates as at September 30, 2017.
2LC: local currency.
3All-in rate ranges from 8.5% down to 5.0% depending on CME's net leverage ratio. In addition, we can achieve a further 50 basis point reduction in the all-in rate if we reduce our long-term debt to less than EUR 815.0 million, subject to certain adjustments in respect of specified debt repayments, on or prior to September 30, 2018.

Consolidated Net Leverage Cash Rate  PIK Fee Rate Total Rate
≥ 7.0x 5.00% 3.25% 8.50%
< 7.0x - 6.0x 5.00% 2.25% 7.25%
< 6.0x - 5.0x 5.00% 1.00% 6.00%
< 5.0x 5.00% –% 5.00%

4Facility decreases to US$ 50 million on January 1, 2018 or, if earlier, upon the repayment of the 2018 Euro Term Loan with the expected proceeds from the sale of our Croatia and Slovenia operations.

5​All-in rate ranges from LIBOR (subject to a floor of 1%) plus 9.0% down to LIBOR (subject to a floor of 1%) plus 6.0%, depending on CME's net leverage ratio.

6Rates are effective from the end of October 2017.