Debt

The Company’s debt (excluding debt related to discontinued operations) consists of the following:



(dollars in millions)	March 31, 2015			December 31, 2014
Current portion of long-term debt:
Corporate Credit Agreement - Tranche B Term Loan	$	5.4		$	5.4
Capital lease obligations and other debt	7.2			6.2
Current portion of long-term debt	12.6			11.6
Long-term debt, less current portion:
Corporate Credit Agreement	—			—
Receivables facility	26.7			19.2
8 3/4% Senior Subordinated Notes due 2018	300.0			300.0
Corporate Credit Agreement - Tranche B Term Loan	526.5			527.8
8 3/8% Senior Notes due 2020	661.2			661.2
7 1/4% Senior Notes due 2023	40.0			40.0
Various Cincinnati Bell Telephone notes	134.5			134.5
Capital lease obligations and other debt	62.9			9.9
	1,751.8			1,692.6
Net unamortized discount	(3.0		)	(3.2		)
Long-term debt, less current portion	1,748.8			1,689.4
Total debt	$	1,761.4		$	1,701.0

There were no outstanding borrowings on the Corporate Credit Agreement's revolving credit facility, leaving $150.0 million available for borrowings as of March 31, 2015. This revolving credit facility expires in July 2017.

The Company entered into an Incremental Assumption Agreement to the Company's existing Corporate Credit Agreement on April 6, 2015. Effective with the consummation of the sale of 14.3 million CyrusOne LP operating partnership units, the aggregate available borrowings on the Corporate Credit Agreement's revolving credit facility increased to $175.0 million for the remainder of the term.

As of March 31, 2015, the Company had $26.7 million of borrowings and $6.3 million of letters of credit outstanding under the accounts receivable securitization facility (“Receivables Facility”), leaving $69.0 million of remaining availability on the total borrowing capacity of $102.0 million. The Receivables Facility will terminate June 2, 2016, unless terminated earlier pursuant to its terms. In the event the Receivables Facility is not renewed, the Company has the ability to refinance any outstanding borrowings with borrowings under the Corporate Credit Agreement. Under the terms of the Agreement, Cincinnati Bell Inc. could obtain up to $120.0 million depending on the quantity and quality of accounts receivable. 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 Company.

On April 7, 2015, the Company notified its trustee of its election to redeem $300.0 million of the outstanding 8 ¾% Senior Subordinated Notes due 2018, at a redemption rate of 102.188% on May 7, 2015. As a result, a loss on extinguishment of debt of approximately $10 million will be recorded in the second quarter of 2015.