Related Party Debt

9 Months Ended

Sep. 30, 2020

Related Party DebtConsolidated related party debt obligations comprise the following as of the dates indicated:


	September 30, 2020						December 31, 2019
	Outstanding Balance		Total Capacity		Available Capacity		Outstanding Balance		Total Capacity		Available Capacity
Ten Year Fixed Facility	$	600	$	600	$	—	$	600	$	600	$	—
Seven Year Fixed Facility	600		600		—		600		600		—
Five Year Revolver due July 2023	494		760		266		494		760		266
Five Year Revolver due December 2022	400		1,000		600		400		1,000		600
Five Year Fixed Facility	600		600		—		600		600		—
2019 Zydeco Revolver	—		30		30		—		30		30
Unamortized debt issuance costs	(2)		n/a		n/a		(2)		n/a		n/a
Debt payable – related party	$	2,692	$	3,590	$	896	$	2,692	$	3,590	$	896

For the three and nine months ended September 30, 2020, interest and fee expenses associated with our borrowings, net of capitalized interest, were $22 million and $69 million, respectively, and for the three and nine months ended September 30, 2019, interest and fee expenses associated with our borrowings, net of capitalized interest, were $26 million and $67 million, respectively. We paid $22 million and $71 million for interest, respectively, during the three and nine months ended September 30, 2020, and we paid $23 million and $62 million for interest, respectively, during the three and nine months ended September 30, 2019.

Borrowings under our revolving credit facilities approximate fair value as the interest rates are variable and reflective of market rates, which results in Level 2 instruments. The fair value of our fixed rate credit facilities is estimated based on the published market prices for issuances of similar risk and tenor and is categorized as Level 2 within the fair value hierarchy. As of September 30, 2020, the carrying amount and estimated fair value of total debt (before amortization of issuance costs) was $2,694 million and $2,919 million, respectively. As of December 31, 2019, the carrying amount and estimated fair value of total debt (before amortization of issuance costs) was $2,694 million and $2,825 million, respectively.

For additional information on our credit facilities, refer to Note 8 – Related Party Debt in the Notes to Consolidated Financial Statements in our 2019 Annual Report.

Borrowings and repayments under our credit facilities for the nine months ended September 30, 2020 and September 30, 2019 are disclosed in our unaudited consolidated statements of cash flows. See Note 9 – (Deficit) Equity for additional information regarding the source of our repayments, if applicable to the period.