Note 6 Debt

Debt consisted of the following:

	September 30,		December 31,
	2014		2013
	(In thousands)
2.35% senior notes due September 2016	$	349,870	$	349,820
6.15% senior notes due February 2018	948,900		969,928
9.25% senior notes due January 2019	339,607		339,607
5.00% senior notes due September 2020	698,177		697,947
4.625% senior notes due September 2021	698,328		698,148
5.10% senior notes due September 2023	348,861		348,765
Commercial paper	771,374		329,844
Revolving credit facility	100,000		170,000
Other	215		10,243
	$	4,255,332	$	3,914,302
Less: current portion	196		10,185
	$	4,255,136	$	3,904,117

Commercial Paper Program

As of September 30, 2014, we had approximately $771.4 million of commercial paper outstanding. The weighted average interest rate on borrowings at September 30, 2014 was 0.35%. Our commercial paper borrowings are classified as long-term debt because the borrowings are fully supported by availability under our revolving credit facility, which as currently structured matures in November 2017, more than one year from the date of the Consolidated Balance Sheets.

Revolving Credit Facility

As of September 30, 2014, we had approximately $100.0 million of borrowings outstanding. The weighted average interest rate on borrowings at September 30, 2014 was 1.46%. 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 the agreement. We were in compliance with all covenants under the agreement at September 30, 2014. If we 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.

6.15% Senior Notes Due February 2018

During the three months ended September 30, 2014, Nabors Delaware redeemed $22.0 million principal amount of these notes. Nabors Delaware paid the holders an aggregate of approximately $25.7 million which includes approximately $0.6 million in accrued interest and $3.1 million premium, which is reflected in losses (gains) on sales and disposals of long-lived assets and other expenses (income), net in our Consolidated Statements of Income (Loss).