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Debt
3 Months Ended
Mar. 31, 2013
Debt  
Debt

Note 6 Debt

 

Long-term debt consisted of the following:

 

 

 

March 31,

 

December 31,

 

 

 

2013

 

2012

 

 

 

(In thousands)

 

6.15% senior notes due February 2018

 

$

969,012

 

$

968,708

 

9.25% senior notes due January 2019

 

1,125,000

 

1,125,000

 

5.00% senior notes due September 2020

 

697,724

 

697,648

 

4.625% senior notes due September 2021

 

697,967

 

697,907

 

Revolving credit facility

 

890,000

 

890,000

 

Other

 

490

 

437

 

 

 

$

4,380,193

 

$

4,379,700

 

Less: current portion

 

435

 

364

 

 

 

$

4,379,758

 

$

4,379,336

 

 

Revolving Credit Facility

 

At March 31, 2013, we had $610 million of remaining availability from a total of $1.5 billion under our existing revolving credit facility. The weighted average interest rate on borrowings at March 31, 2013 was 1.51%.  The revolving credit facility contains various covenants and restrictive provisions that limit our ability to incur additional indebtedness, make investments or loans and create liens and require us to maintain a net funded indebtedness to total capitalization ratio, as defined in each agreement. We were in compliance with all covenants under the agreement at March 31, 2013 and December 31, 2012. If we should fail to perform our obligations under the covenants, the revolving credit commitment could be terminated and any outstanding borrowings under the facility could be declared immediately due and payable.