Debt



	September 30, 2018				December 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Secured debt
Revolving credit facilities	$	2,327	$	2,331	$	4,694	$	4,713
Securitization notes payable	37,395		37,348		35,193		35,235
Total secured debt	39,722		39,679		39,887		39,948
Unsecured debt
Senior notes	41,004		41,417		36,820		37,969
Credit facilities	2,118		2,114		2,368		2,375
Other unsecured debt	3,533		3,531		1,642		1,645
Total unsecured debt	46,655		47,062		40,830		41,989
Total secured and unsecured debt	$	86,377	$	86,741	$	80,717	$	81,937
Fair value utilizing Level 2 inputs			$	84,693			$	79,623
Fair value utilizing Level 3 inputs			$	2,048			$	2,314

Secured Debt Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged assets. Refer to Note 7 for further discussion.

During the nine months ended September 30, 2018, we entered into new credit facilities or renewed credit facilities with a total net additional borrowing capacity of $345 million, and we issued $16.3 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 2.89% and legal final maturity dates ranging from 2022 to 2026.

Unsecured Debt During the nine months ended September 30, 2018, we issued $7.2 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 3.17% and maturity dates ranging from 2020 to 2028.

During the nine months ended September 30, 2018, we launched an unsecured commercial paper notes program in the U.S. At September 30, 2018, the principal amount outstanding of our commercial paper in the U.S. was $1.5 billion.

General Motors Financial Company, Inc. is the sole guarantor of its subsidiaries' unsecured debt obligations for which a guarantee is provided.

Compliance with Debt Covenants Several of our revolving credit facilities require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Certain of our secured debt agreements also contain various covenants, including maintaining portfolio performance ratios as well as limits on deferment levels. Our unsecured debt obligations contain covenants including limitations on our ability to incur certain liens. At September 30, 2018, we were in compliance with these debt covenants.