Debt

TCM's total debt consisted of the following:



(in millions)	September 30, 2013			December 31, 2012
Senior secured notes, net of discount	$	347.2		$	346.8
Senior unsecured notes	550.0			550.0
tMEDS	22.3			30.6
Equipment loans	6.3			10.6
Other	0.2			0.4
Total debt	926.0			938.4
Less: current portion	(15.3		)	(16.6		)
Total long-term debt	$	910.7		$	921.8

9.75% Senior Secured Notes

On November 27, 2012, TCM issued $350.0 million of 9.75% senior secured notes that mature on December 1, 2017 (the “2017 Notes”). The proceeds received in the offering were $336.8 million, net of financing fees of $10.0 million and a discount of $3.2 million.

Interest on the 2017 Notes is payable on February 1 and August 1 of each year, and the first interest payment occurred on February 1, 2013. For the three and nine months ended September 30, 2013, TCM paid $17.0 million and $23.1 million of interest, respectively. For the three and nine months ended September 30, 2013, TCM capitalized $9.2 million and $27.5 million, respectively, of the interest, discount amortization and debt issuance costs related to the 2017 Notes. See Note 10 of TCM's 2012 Form 10-K for further discussion.

For purposes of the fair market value disclosed in Note 7, the carrying value of the 2017 Notes as of September 30, 2013 was lower than their fair value of approximately $386.4 million.

12.5% Senior Unsecured Notes

On May 11, 2012, TCM issued $200.0 million of 12.5% senior unsecured notes that mature on May 1, 2019 (the “2019 Notes”). The proceeds received in the offering were $193.1 million, net of financing fees of $6.9 million.

Interest on the 2019 Notes is payable on May 1 and November 1 of each year, and the first interest payment occurred on November 1, 2012. For the nine months ended September 30, 2013, TCM paid $12.5 million of interest. For the three and nine months ended September 30, 2013, TCM capitalized $6.5 million and $19.5 million, respectively, of interest and debt issuance costs associated with the 2019 Notes. See Note 10 of TCM's 2012 Form 10-K for further discussion.

For purposes of the fair market value disclosed in Note 7, the carrying value of the 2019 Notes as of September 30, 2013 was lower than their fair value of approximately $206.5 million.

7.375% Senior Unsecured Notes

On May 20, 2011, TCM issued $350.0 million of 7.375% senior unsecured notes that mature on June 1, 2018 (the "2018 Notes"). The proceeds received in the offering were $339.9 million, net of financing fees of $10.1 million.

Interest is payable on June 1 and December 1 of each year, and the first interest payment occurred on December 1, 2011. For the nine months ended September 30, 2013, TCM paid $12.9 million of interest. For the three and nine months ended September 30, 2013, $6.8 million and $20.4 million, respectively, of interest and debt issuance costs related to the 2018 Notes was capitalized. See Note 10 of TCM's 2012 Form 10-K for further discussion.

For purposes of fair market value disclosed in Note 7, the carrying value of the 2018 Notes as of September 30, 2013 was higher than their fair value of approximately $306.7 million.

Mobile Mining Equipment Loans

On December 8, 2010, TCM executed an equipment financing agreement with Caterpillar in the amount of $12.8 million secured by six units of mobile mining equipment purchased by TCM during 2010. This fixed-rate loan bears interest at 3.6%, is scheduled to mature no later than December 8, 2015 and has an outstanding payable amount of $6.0 million as of September 30, 2013. TCM has an additional fixed-rate loan with Caterpillar bearing interest at 5.9% that is scheduled to mature no later than October 31, 2013 and has an outstanding payable amount of $0.3 million as of September 30, 2013.