Debt

The Company’s debt consists of the following:



	March 31,			December 31,
(dollars in millions)	2018			2017
Current portion of long-term debt:
Credit Agreement - Tranche B Term Loan due 2024	$	6.0		$	6.0
Capital lease obligations and other debt	12.2			12.4
Current portion of long-term debt	18.2			18.4
Long-term debt, less current portion:
Credit Agreement - Tranche B Term Loan due 2024	594.0			594.0
7 1/4% Senior Notes due 2023	22.3			22.3
7% Senior Notes due 2024	625.0			625.0
8% Senior Notes due 2025	350.0			350.0
Cincinnati Bell Telephone Notes	87.9			87.9
Capital lease obligations and other debt	67.7			70.5
	1,746.9			1,749.7
Net unamortized premium	1.9			1.9
Unamortized note issuance costs	(21.9		)	(22.3		)
Long-term debt, less current portion	1,726.9			1,729.3
Total debt	$	1,745.1		$	1,747.7

Credit Agreement

There were no outstanding borrowings on the Credit Agreement's revolving credit facility, leaving $200.0 million available for borrowings as of March 31, 2018. This revolving credit facility expires in October 2022.

In April 2018, the Company amended its Credit Agreement dated as of October 2, 2017 to reduce the applicable margin on the Tranche B Term Loan due 2024 and revolving credit facility with respect to LIBOR borrowings from the previous 3.75% per annum to 3.25% per annum and, with respect to adjusted base rate borrowings, from the previous 2.75% per annum to 2.25% per annum. The letter of credit fees were reduced from the previous 3.75% per annum to 3.25% per annum.

Accounts Receivable Securitization Facility

As of March 31, 2018, the Company had no borrowings and $6.7 million of letters of credit outstanding under the accounts receivable securitization facility ("Receivables Facility"), leaving $92.5 million remaining availability on the total borrowing capacity of $99.2 million. In the second quarter of 2017, the Company executed an amendment of its Receivables Facility, which replaced, amended and added certain provisions and definitions to increase the credit availability and renew the facility, which is subject to renewal every 364 days, until May 2018. The facility's termination date is in May 2019 and was not changed by this amendment. 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 U.S. 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.