Debt — Debt consisted of:



	June 30, 2014				June 30, 2013				December 31, 2013
(millions)	Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
7% Notes due 2013	$	0	$	0	$	150.0	$	152.3	$	0	$	0
3.75% Senior Notes due 2021	497.7		532.8		497.4		517.6		497.6		509.1
6 5/8% Senior Notes due 2029	295.4		395.9		295.2		362.1		295.3		359.6
6.25% Senior Notes due 2032	394.7		514.7		394.6		479.1		394.6		473.7
4.35% Senior Notes due 2044	346.3		355.0		0		0		0		0
6.70% Fixed-to-Floating Rate Junior Subordinated Debentures due 2067	673.9		753.2		726.7		789.7		673.4		731.3
Total	$	2,208.0	$	2,551.6	$	2,063.9	$	2,300.8	$	1,860.9	$	2,073.7

In April 2014, we issued $350 million of 4.35% Senior Notes due 2044 (the “4.35% Senior Notes”). We received proceeds of $346.3 million, after deducting underwriter’s discounts and commissions. In addition, we incurred expenses of approximately $0.7 million related to the issuance. Upon issuance of the 4.35% Senior Notes, we closed a forecasted debt issuance hedge, which was entered into to hedge against a possible rise in interest rates, and recognized a $1.6 million pretax loss as part of accumulated other comprehensive income (loss); the loss will be recognized as an adjustment to interest expense and amortized over the life of the 4.35% Senior Notes.

In October 2013, we retired the entire $150 million of our 7% Notes at maturity.

We did not repurchase any debt securities during the first six months of 2014 or 2013. During the third quarter 2013, we repurchased, in the open market, $54.1 million in aggregate principal amount of our 6.70% Fixed-to-Floating Rate Junior Subordinated Debentures due 2067 (the “6.70% Debentures”). Since the amount paid exceeded the carrying value of the debt we repurchased, we recognized losses on these extinguishments of $4.3 million. In addition, for the portion of the 6.70% Debentures we repurchased, we reclassified $0.8 million, on a pretax basis, of the unrealized gain on forecasted transactions from accumulated other comprehensive income on the balance sheet to net realized gains on securities on the comprehensive income statement.

During the first quarter 2014, we renewed the unsecured, discretionary line of credit (the "Line of Credit") with PNC Bank, National Association ("PNC") in the maximum principal amount of $100 million. The prior line of credit, entered into in the first quarter 2013, has expired. The Line of Credit is on substantially the same terms and conditions as the prior line of credit. Subject to the terms and conditions of the Line of Credit documents, advances under the Line of Credit (if any) will bear interest at a variable rate equal to the higher of PNC's Prime Rate and the sum of the Federal Funds Open Rate plus 50 basis points. Each advance must be repaid on the 30th date after the advance or, if earlier, on March 25, 2015, the expiration date of the Line of Credit. Prepayments are permitted without penalty. All advances under the Line of Credit are subject to PNC's discretion. We had no borrowings under the Line of Credit or the prior line of credit during the first six months of 2014 or throughout 2013.