Notes payable and long-term debt consists of the following:



	June 30, 2013				December 31, 2012
	Outstanding		Weighted Average Rate		Outstanding		Weighted Average Rate
Notes payable
Commercial paper ⁽¹⁾	$	129	0.1	%	$	381	0.2	%
$200.0 European revolving credit facility, due March 13, 2014 ⁽²⁾	—		—		—		—
Sigma-Aldrich Korea Limited credit facility, due June 30, 2014 ⁽³⁾	—		—		—		—
Sigma-Aldrich Japan GK credit facilities ⁽⁴⁾	—		—		—		—
Other short-term credit facilities ⁽⁵⁾	—		—		2		1.5	%
Total notes payable	$	129	0.1	%	$	383	0.2	%
Long-term debt
Senior notes, due November 1, 2020 ⁽⁶⁾	$	300	3.4	%	$	300	3.4	%
Total long-term debt	$	300	3.4	%	$	300	3.4	%

(1)

The Company has a $600 five-year revolving credit facility with a syndicate of banks in the U.S. supporting the Company's commercial paper program that will mature on May 9, 2017. At June 30, 2013 and December 31, 2012, the Company did not have any borrowings outstanding under the facility. However, the amount available under the facility is reduced by the amount of commercial paper outstanding. The facility contains financial covenants that require the maintenance of a ratio of consolidated debt to total capitalization of no more than 65.0 percent and an aggregate amount of subsidiary debt plus consolidated secured debt of no more than 25.0 percent of total net worth. The Company's total consolidated debt as a percentage of total capitalization and aggregate amount of subsidiary debt plus consolidated secured debt as a percentage of total net worth, as defined in the underlying credit agreement, was 14.2 percent and 0.0 percent, respectively, at June 30, 2013.

(2)

This facility contains financial covenants that require the maintenance of consolidated net worth of at least $750, a ratio of consolidated debt to total capitalization of no more than 55.0 percent and an aggregate amount of subsidiary debt plus consolidated secured debt of no more than 25.0 percent of total net worth. The Company's consolidated net worth, consolidated debt as a percentage of total capitalization and aggregate amount of subsidiary debt plus consolidated secured debt as a percentage of total net worth, as defined in the underlying credit agreement, were $2,584, 14.2 percent and 0.0 percent, respectively, at June 30, 2013.


(3)	There were no outstanding borrowings under this facility, which had a total commitment of 20 billion Korean Won ($18), at June 30, 2013.


(4)	Sigma-Aldrich Japan GK has two credit facilities having a total commitment of 2 billion Japanese Yen ($20), with one facility due April 30, 2014 and the other representing a line of credit with no expiration. There were no borrowings under the facilities at June 30, 2013.


(5)	There were no borrowings under these facilities, which have total commitments in U.S. Dollar equivalents of $3, at June 30, 2013.

(6)

The Company has $300 of 3.375 percent Senior Notes due November 1, 2020. Interest on the notes is payable May 1 and November 1 of each year. The notes may be redeemed, in whole or in part at the Company’s option, (i) at any time at specific redemption prices plus accrued interest or (ii) three months prior to the maturity date at a redemption price equal to 100 percent of the principal amount plus accrued interest.