Note 4 - Debt

The amortized cost of debt outstanding at March 31, 2016 and December 31, 2015 was:



(Dollars in Millions)	Mar 31, 2016		Dec 31, 2015
Senior Notes:
6.00% Senior Notes due May 15, 2017	$	359.3	$	359.1
4.35% Senior Notes due February 15, 2025	247.5		247.4
7.375% Subordinated Debentures due February 27, 2054	144.1		144.1
Total Debt Outstanding	$	750.9	$	750.6

There were no outstanding borrowings under Kemper’s $225.0 million, unsecured, revolving credit agreement which expires June 2, 2020 at either March 31, 2016 or December 31, 2015.

Kemper’s subsidiaries, Trinity Universal Insurance Company (“Trinity”) and United Insurance Company of America (“United Insurance”), are members of the Federal Home Loan Bank (“FHLB”) of Dallas and Chicago, respectively. During the first three months of 2016 and 2015, Trinity borrowed and repaid $10.0 million and $20.5 million, respectively, under its agreement with the FHLB of Dallas. There were no advances from the FHLB of Dallas or Chicago outstanding at either March 31, 2016 or December 31, 2015.

Interest Expense, including facility fees, accretion of discount and amortization of issuance costs, for the three months ended March 31, 2016 and 2015 was:



	Three Months Ended
(Dollars in Millions)	Mar 31, 2016			Mar 31, 2015
Notes Payable under Revolving Credit Agreement	$	0.2		$	0.2
Federal Home Loan Bank of Dallas	—			—
Federal Home Loan Bank of Chicago	—			—
Senior Notes Payable:
6.00% Senior Notes due November 30, 2015	—			3.7
6.00% Senior Notes due May 15, 2017	5.6			5.6
4.35% Senior Notes due February 15, 2025	2.8			1.1
7.375% Subordinated Debentures due February 27, 2054	2.8			2.8
Interest Expense before Capitalization of Interest	11.4			13.4
Capitalization of Interest	(0.2		)	(0.2		)
Total Interest Expense	$	11.2		$	13.2

Note 4 - Debt (Continued)

Interest paid, including facility fees, for the three months ended March 31, 2016 and 2015 was:



	Three Months Ended
(Dollars in Millions)	Mar 31, 2016		Mar 31, 2015
Notes Payable under Revolving Credit Agreement	$	0.1	$	0.2
Federal Home Loan Bank of Dallas	—		—
Federal Home Loan Bank of Chicago	—		—
Senior Notes Payable:
6.00% Senior Notes due November 30, 2015	—		4.8
6.00% Senior Notes due May 15, 2017	—		—
4.35% Senior Notes due February 15, 2025	5.4		—
7.375% Subordinated Debentures due February 27, 2054	2.8		2.8
Total Interest Paid	$	8.3	$	7.8