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Debt
 6 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Debt
Note 8—Debt
The Company had outstanding debt as follows:
 
March 31,
2020
 
September 30,
2019
 
Effective Interest Rate(1)
 
(in millions, except percentages)
Commercial paper
$
1,002

 
$
—

 
1.55
%
2.20% Senior Notes due December 2020
3,000

 
3,000

 
2.30
%
2.15% Senior Notes due September 2022
1,000

 
1,000

 
2.30
%
2.80% Senior Notes due December 2022
2,250

 
2,250

 
2.89
%
3.15% Senior Notes due December 2025
4,000

 
4,000

 
3.26
%
2.75% Senior Notes due September 2027
750

 
750

 
2.91
%
4.15% Senior Notes due December 2035
1,500

 
1,500

 
4.23
%
4.30% Senior Notes due December 2045
3,500

 
3,500

 
4.37
%
3.65% Senior Notes due September 2047
750

 
750

 
3.73
%
Total debt
17,752

 
16,750

 
 
Unamortized discounts and debt issuance costs
(103
)
 
(108
)
 
 
Hedge accounting fair value adjustments(2)
243

 
87

 
 
Total carrying value of debt
$
17,892

 
$
16,729

 
 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
Current maturities of debt
$
3,999

 
$
—

 
 
Long-term debt
13,893

 
16,729

 
 
Total carrying value of debt
$
17,892

 
$
16,729

 
 

(1) 
Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2) 
Represents the change in fair value of interest rate swap agreements entered into on a portion of certain outstanding senior notes.
Commercial Paper Program
Visa maintains a commercial paper program to support its working capital requirements and for other general corporate purposes. Under the program, the Company is authorized to issue up to $3.0 billion in outstanding notes, with maturities up to 397 days from the date of issuance. At March 31, 2020, the commercial paper outstanding had remaining maturities of less than 12 months.
Senior Notes
In April 2020, the Company issued fixed-rate senior notes in a public offering in an aggregate principal amount of $4.0 billion, with maturities ranging between 7 and 20 years. The April 2027 Notes, 2030 Notes and 2040 Notes, or collectively, the "2020 Notes", have interest rates of 1.90%, 2.05% and 2.70%, respectively. Interest on the 2020 Notes is payable semi-annually on April 15 and October 15 of each year, commencing October 15, 2020. The net aggregate proceeds, after deducting discounts and debt issuance costs, were approximately $4.0 billion. The Company plans to use the net proceeds for general corporate purposes.