CREDIT FACILITIES AND INDEBTEDNESS

9 Months Ended

Jun. 30, 2014

10. CREDIT FACILITIES AND INDEBTEDNESS

	June 30, 2014			September 30, 2013
Credit facility	$	625.0		$	-
3.25% Convertible Notes (due May 2014)		-			850.0
7.5% Bonds (due June 2019)		500.0			500.0
5.5% Bonds (due June 2020)		300.0			300.0
5.35% Bonds (due October 2023)		500.0			500.0
Total principal debt obligations (at face)		1,925.0			2,150.0

Discounts:
3.25% Convertible Notes		-			(23.3	)
7.5% Bonds		(1.6	)		(1.8	)
5.5% Bonds		(0.9	)		(0.9	)
5.35% Bonds		(1.9	)		(2.1	)

Swap FV adjustments:
7.5% Bonds		44.6			48.4
5.5% Bonds		22.5			22.6
Total outstanding debt recorded, net	$	1,987.7		$	2,192.9

IGT was compliant with all covenants and embedded features required no bifurcation at June 30, 2014.

Credit Facility

At June 30, 2014, $625.0 million was outstanding under our $1.0 billion revolving credit facility, $353.5 million was available, and $21.5 million was reserved for letters of credit, performance bonds, and bank guarantees.

3.25% Convertible Notes

At maturity on May 1, 2014, these notes were redeemed for cash at the face amount.

	Third Quarters				Nine Months
Periods Ended June 30,	2014		2013		2014		2013
Contractual interest expense	$	2.5	$	6.9	$	16.4	$	20.7
Discount amortization		3.6		9.3		23.4		27.3

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details