american tower corporation and subsidiaries notes to consolidated financial statements 2014 (continued) the term of the economic rights agreement is seventy years; however, tv azteca has the right to purchase, at fair market value, the economic rights from the company at any time during the last fifty years of the agreement. should tv azteca elect to purchase the economic rights (in whole or in part), it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election. the company 2019s obligation to pay tv azteca $1.5 million annually would also be reduced proportionally. the company has accounted for the annual payment of $1.5 million as a capital lease (initially recording an asset and a corresponding liability of approximately $18.6 million). the capital lease asset and the discount on the note, which aggregate approximately $30.2 million, represent the cost to acquire the economic rights and are being amortized over the seventy-year life of the economic rights agreement. on a quarterly basis, the company assesses the recoverability of its note receivable from tv azteca. as of december 31, 2005 and 2004, the company has assessed the recoverability of the note receivable from tv azteca and concluded that no adjustment to its carrying value is required. an executive officer and former director of the company served as a director of tv azteca from december 1999 to february 2006. as of december 31, 2005 and 2004, the company also had other long-term notes receivable outstanding of approximately $11.1 million and $11.2 million, respectively. 7. financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31, (in thousands):.

- | 2005 | 2004
american tower credit facility | $793000 | $698000
spectrasite credit facility | 700000 | -
senior subordinated notes | 400000 | 400000
senior subordinated discount notes net of discount and warrant valuation | 160252 | 303755
senior notes net of discount and premium | 726754 | 1001817
convertible notes net of discount | 773058 | 830056
notes payable and capital leases | 60365 | 59986
total | 3613429 | 3293614
less current portion of other long-term obligations | -162153 (162153) | -138386 (138386)
long-term debt | $3451276 | $3155228

new 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. as a result of the repayment of the previous credit facilities, the company recorded a net loss on retirement of long-term obligations of $9.8 million in the fourth quarter of 2005..

between the years of 2004 and 2005, what was the variation in the long-term debt?