Note 6 — Financing

Long-term debt consists of:


	June 30,		December 31,
(in millions)	2011		2010

3.125% senior notes due 2016, net of unamortized discount	$	1,494.1	$	—
5.25% senior notes due 2012, net of unamortized discount		999.7		999.6
6.25% senior notes due 2014, net of unamortized discount		997.3		996.9
7.25% senior notes due 2019, net of unamortized discount		497.2		497.1
Revolving credit facility due August 13, 2013		100.0		—
Other		0.2		0.2

Total debt		4,088.5		2,493.8

Less current maturities		999.8		0.1

Long-term debt	$	3,088.7	$	2,493.7

On August 13, 2010, we entered into a credit agreement with a commercial bank syndicate providing for a three-year revolving credit facility of $750.0 million ($100.0 million of which was outstanding as of June 30, 2011) available for general corporate purposes. Our credit agreement requires us to pay interest periodically on the London Interbank Offered Rates (“LIBOR”) or base rate options, plus a margin ranging from 1.55% to 1.95%, depending on our consolidated leverage ratio. Under the credit agreement we are required to pay commitment fees on the unused portion of the $750.0 million revolving credit facility. The commitment fee will range from 0.20% to 0.30% depending on our consolidated leverage ratio.

The credit agreement contains covenants which limit our ability to incur additional indebtedness, create or permit liens on assets, and engage in mergers, consolidations, or disposals. The covenants also include a minimum interest coverage ratio and a maximum leverage ratio. At June 30, 2011, we believe we were in compliance in all material respects with all covenants associated with our credit agreement.

On May 2, 2011, we issued $1.5 billion aggregate principal amount of 3.125% Senior Notes due 2016 (“2016 Senior Notes”). The 2016 Senior Notes require interest to be paid semi-annually on May 15 and November 15. We may redeem some or all of the 2016 Senior Notes prior to maturity at a price equal to the greater of (1) 100% of the aggregate principal amount of any notes being redeemed, plus accrued and unpaid interest; or (2) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed, not including unpaid interest accrued to the redemption date, discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate plus 20 basis points with respect to any 2016 Senior Notes being redeemed, plus in each case, unpaid interest on the notes being redeemed accrued to the redemption date. The 2016 Senior Notes are jointly and severally and fully and unconditionally guaranteed on a senior basis by most of our current and future 100% owned domestic subsidiaries.

Financing costs of $10.9 million for the issuance of the 2016 Senior Notes are being amortized over 5 years and are reflected in other intangible assets, net in the accompanying unaudited consolidated balance sheet. We used the net proceeds to repurchase treasury shares.