american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 . financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31 , ( in thousands ) : .

Table: 2006 2005 american tower credit facility $ 1000000 $ 793000 spectrasite credit facility 725000 700000 senior subordinated notes 325075 400000 senior subordinated discount notes net of discount and warrant valuation 160252 senior notes net of discount and premium 728507 726754 convertible notes net of discount 704596 773058 notes payable and capital leases 59838 60365 total 3543016 3613429 less current portion of other long-term obligations -253907 ( 253907 ) -162153 ( 162153 ) long-term obligations $ 3289109 $ 3451276

credit facilities 2014in october 2005 , the company refinanced the two existing credit facilities of its principal operating subsidiaries . the company replaced the existing american tower $ 1.1 billion senior secured credit facility with a new $ 1.3 billion senior secured credit facility and replaced the existing spectrasite $ 900.0 million senior secured credit facility with a new $ 1.15 billion senior secured credit facility . in february 2007 , the company secured an additional $ 550.0 million under its credit facilities and drew down $ 250.0 million of the existing revolving loans under the american tower credit facility . ( see note 19. ) during the year ended december 31 , 2006 , the company drew down the remaining amount available under the delayed draw term loan component of the american tower credit facility and drew down $ 25.0 million of the delayed draw term loan component of the spectrasite credit facility to finance debt redemptions and repurchases . in addition , on october 27 , 2006 , the remaining $ 175.0 million undrawn portion of the delayed draw term loan component of the spectrasite facility was canceled pursuant to its terms . as of december 31 , 2006 , the american tower credit facility consists of the following : 2022 a $ 300.0 million revolving credit facility , against which approximately $ 17.8 million of undrawn letters of credit are outstanding at december 31 , 2006 , maturing on october 27 , 2010 ; 2022 a $ 750.0 million term loan a , which is fully drawn , maturing on october 27 , 2010 ; and 2022 a $ 250.0 million delayed draw term loan , which is fully drawn , maturing on october 27 , 2010 . the borrowers under the american tower credit facility include ati , american tower , l.p. , american tower international , inc . and american tower llc . the company and the borrowers 2019 restricted subsidiaries ( as defined in the loan agreement ) have guaranteed all of the loans under the credit facility . these loans are secured by liens on and security interests in substantially all assets of the borrowers and the restricted subsidiaries , with a carrying value aggregating approximately $ 4.5 billion at december 31 , 2006 . as of december 31 , 2006 , the spectrasite credit facility consists of the following : 2022 a $ 250.0 million revolving credit facility , against which approximately $ 4.6 million of undrawn letters of credit were outstanding at december 31 , 2006 , maturing on october 27 , 2010; .

Question: what percentage of outstanding amounts under the company 2019s long-term financing arrangements is current as of december 31 , 2006?
Answer: 7%
Calculation: divide(253907, 3543016)