Debt



	June 30, 2019				December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Secured debt
Revolving credit facilities	$	2,280	$	2,286	$	3,410	$	3,413
Securitization notes payable	38,767		38,987		39,425		39,422
Total secured debt	41,047		41,273		42,835		42,835
Unsecured debt
Senior notes	44,864		46,251		42,611		42,015
Credit facilities	1,785		1,783		2,157		2,151
Other unsecured debt	3,418		3,420		3,385		3,390
Total unsecured debt	50,067		51,454		48,153		47,556
Total secured and unsecured debt	$	91,114	$	92,727	$	90,988	$	90,391
Fair value utilizing Level 2 inputs			$	90,699			$	88,305
Fair value utilizing Level 3 inputs			$	2,028			$	2,086

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 six months ended June 30, 2019, we entered into new or renewed credit facilities with a total net additional borrowing capacity of $150 million, and we issued $10.4 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 2.98% and legal final maturity dates ranging from 2022 to 2026.

Unsecured Debt During the six months ended June 30, 2019, we issued $5.4 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 4.20% and maturity dates ranging from 2021 to 2029.

The principal amount outstanding of our commercial paper in the U.S. was $1.0 billion and $1.2 billion at June 30, 2019 and December 31, 2018.

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 June 30, 2019, we were in compliance with these debt covenants.