Debt

The Company’s debt consists of the following:



(dollars in millions)	September 30, 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	7.0			6.2
Current portion of long-term debt	12.4			11.6
Long-term debt, less current portion:
Receivables facility	—			19.2
8 3/4% Senior Subordinated Notes due 2018	—			300.0
Corporate Credit Agreement - Tranche B Term Loan	523.8			527.8
8 3/8% Senior Notes due 2020	478.5			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	61.4			9.9
	1,238.2			1,692.6
Net unamortized discount	(1.9		)	(3.2		)
Long-term debt, less current portion	1,236.3			1,689.4
Total debt	$	1,248.7		$	1,701.0

The Company entered into an Incremental Assumption Agreement to the Company's existing Corporate Credit Agreement on April 6, 2015. Effective with the sale of our 14.3 million CyrusOne LP operating partnership units on April 7, 2015, the aggregate available borrowings on the Corporate Credit Agreement's revolving credit facility increased to $175.0 million for the remainder of the term. There were no outstanding borrowings on the Corporate Credit Agreement's revolving credit facility, leaving $175.0 million available for borrowings as of September 30, 2015. This revolving credit facility expires in July 2017.

On June 1, 2015, the Company executed an amendment of its accounts receivable securitization facility (“Receivables Facility”). The amendment replaced, amended, and added certain provisions and definitions to increase the credit availability, renew the facility, which is subject to renewal every 364 days, until May 30, 2016, extend the facility's termination date to May 30, 2018, and include a Libor Market Index Rate floor of zero. As of September 30, 2015, the Company had no borrowings and $6.3 million of letters of credit outstanding under the Receivables Facility, leaving $103.0 million remaining availability on the total borrowing capacity of $109.3 million. 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 Receivables Facility, the Company could obtain up to $120.0 million depending on the quantity and quality of accounts receivable. Under this agreement, 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 May 7, 2015, the Company redeemed the remaining $300.0 million of its outstanding 8 ¾% Senior Subordinated Notes due 2018, at a redemption rate of 102.188%. As a result, a loss on extinguishment of debt of $10.4 million was recorded in the second quarter of 2015. Additionally, during the second quarter of 2015, the Company redeemed $45.1 million of its outstanding 8 ³/₈ % Senior Notes due 2020 at an average redemption price of 106.450% which resulted in recording a loss on extinguishment of debt of $3.1 million.

During the third quarter of 2015, the Company redeemed $137.6 million of its outstanding 8 ³/₈ % Senior Notes due 2020 at an average redemption price of 105.242% which resulted in recording a loss on extinguishment of debt of $7.8 million.