Debt

White Mountains’s debt outstanding as of September 30, 2014 and December 31, 2013 consisted of the following:



Millions	September 30, 2014			December 31, 2013
2012 OBH Senior Notes, at face value	$	275.0		$	275.0
Unamortized original issue discount	(.3		)	(.3		)
2012 OBH Senior Notes, carrying value	274.7			274.7
SIG Senior Notes, at face value	400.0			400.0
Unamortized original issue discount	(.4		)	(.4		)
SIG Senior Notes, carrying value	399.6			399.6
WTM Bank Facility	—			—
Old Lyme Note	2.8			2.1
QuoteLab	1.0			—
Total debt	$	678.1		$	676.4

WTM Bank Facility

On August 14, 2013, White Mountains entered into a revolving credit facility with a syndicate of lenders administered by Wells Fargo Bank, N.A., which has a total commitment of $425.0 million and has a maturity date of August 14, 2018 (the “WTM Bank Facility”). As of September 30, 2014, the WTM Bank Facility was undrawn.

The WTM Bank Facility contains various affirmative, negative and financial covenants which White Mountains considers to be customary for such borrowings, including certain minimum net worth and maximum debt to capitalization standards. Failure to meet one or more of these covenants could result in an event of default, which ultimately could eliminate availability under these facilities and result in acceleration of principal repayment on any amounts outstanding.

Debt Covenants

At September 30, 2014, White Mountains was in compliance with all debt covenants.