Debt

The Company’s debt consists of the following:



(dollars in millions)	June 30, 2011			December 31, 2010
Current portion of long-term debt:
Capital lease obligations and other debt	$	17.5		$	16.5
Current portion of long-term debt	17.5			16.5
Long-term debt, less current portion:
7% Senior Notes due 2015*	250.9			251.4
8 1/4% Senior Notes due 2017	500.0			500.0
8 3/4% Senior Subordinated Notes due 2018	625.0			625.0
8 3/8% Senior Notes due 2020	775.0			775.0
7 1/4% Senior Notes due 2023	40.0			40.0
Various Cincinnati Bell Telephone notes	207.5			207.5
Capital lease obligations and other debt	118.0			118.5
	2,516.4			2,517.4
Net unamortized discount	(9.5		)	(10.3		)
Long-term debt, less current portion	2,506.9			2,507.1
Total debt	$	2,524.4		$	2,523.6

* The face amount of these notes has been adjusted for the unamortized called amounts received on terminated interest rate swaps.

In June 2011, the Company amended its accounts receivable securitization facility (“Receivables Facility”). Among other things, this amendment increased the facility limit to $105.0 million, removed certain provisions which were no longer applicable to the facility, extended the termination date of the facility to June 2014, added an additional purchaser, added a letter of credit subfacility, and added the Company's wholly owned subsidiary Cyrus Networks, LLC as an originator. The Receivables Facility is subject to renewal every 364 days. In the event the Receivables Facility is not renewed, the Company believes it would be able to refinance any outstanding borrowings with borrowings under the revolving credit facility. The permitted borrowings vary depending on the level of eligible receivables and other factors. Under the Receivables Facility, certain subsidiaries, or originators, sell their respective trade receivables on a continuous basis to Cincinnati Bell Funding LLC ("CBF"). Although CBF is a wholly-owned consolidated subsidiary of the Company, CBF is legally separate from the Company and each of the Company’s other subsidiaries. Upon and after the sale or contribution of the accounts receivable to CBF, such accounts receivable are legally assets of CBF, and as such are not available to creditors of other subsidiaries or the parent company. At June 30, 2011, the Company had $0.4 million of borrowings and $4.6 million of letters of credit outstanding under the Receivables Facility, leaving $100.0 million remaining on the available borrowings of $105.0 million.

As of June 30, 2011, the Company had no outstanding borrowings, and $21.7 million of outstanding letters of credit under its revolving credit facility, leaving $188.3 million remaining of the $210.0 million capacity.