SHORT-TERM DEBT AND LINES OF CREDIT

9 Months Ended

Sep. 30, 2013

SHORT-TERM DEBT AND LINES OF CREDIT

SHORT-TERM DEBT AND LINES OF CREDIT

SHORT-TERM DEBT AND LINES OF CREDIT

Our outstanding short-term borrowings were as follows:

(Millions, except percentages)	September 30, 2013			December 31, 2012
Commercial paper	$	114.4		$	95.4
Average discount rate on commercial paper	0.15		%	0.24		%
Loan under term credit facility	$	200.0		$	—
Average interest rate on loan under term credit facility	0.78		%	—

Our average amount of commercial paper borrowings based on daily outstanding balances during the nine months ended September 30, 2013, and 2012, was $88.4 million and $156.3 million, respectively.

We manage our liquidity by maintaining adequate external financing commitments. The information in the table below relates to our short-term debt and revolving credit facilities used to support our commercial paper borrowing program, including remaining available capacity under these facilities:

(Millions)	Maturity	September 30, 2013		December 31, 2012
Revolving credit facility	05/17/2014	$	135.0	$	135.0
Revolving credit facility	06/13/2017	115.0		115.0
Term credit facility	12/31/2013	200.0		—
Total short-term credit capacity		$	450.0	$	250.0
Less:
Loan outstanding under term credit facility		$	200.0	$	—
Commercial paper outstanding		114.4		95.4
Available capacity under existing agreements		$	135.6	$	154.6

The loan outstanding under our term credit facility relates to the purchase of Fox Energy Company LLC and must be repaid upon the earlier of our issuance of replacement long-term debt or December 31, 2013. See Note 4, "Acquisition of Fox Energy Center," for more information. The commercial paper outstanding at September 30, 2013, had maturity dates ranging from October 1, 2013, through October 22, 2013.