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Debt (Tables)

6 Months Ended

Jun. 30, 2020

Our debt at June 30, 2020 and December 31, 2019, was as follows (in millions):



	June 30, 2020		December 31, 2019
First Lien Term Loans	$	3,155	$	3,167
Senior Unsecured Notes	3,042		3,663
First Lien Notes	2,408		2,835
CCFC Term Loan	962		967
GPC Term Loan	867		—
Project financing, notes payable and other	481		879
Finance lease obligations	68		73
Revolving facilities	122		122
Subtotal	11,105		11,706
Less: Current maturities	231		1,268
Total long-term debt	$	10,874	$	10,438

First Lien Term Loans

The amounts outstanding under our First Lien Term Loans are summarized in the table below (in millions):



	June 30, 2020		December 31, 2019
2024 First Lien Term Loan	$	1,508	$	1,514
2026 First Lien Term Loans	1,647		1,653
Total First Lien Term Loans	$	3,155	$	3,167

Senior Unsecured Notes

The amounts outstanding under our Senior Unsecured Notes are summarized in the table below (in millions):



	June 30, 2020		December 31, 2019
2023 Senior Unsecured Notes⁽¹⁾	$	—	$	623
2024 Senior Unsecured Notes⁽²⁾	479		479
2025 Senior Unsecured Notes⁽²⁾	1,175		1,174
2028 Senior Unsecured Notes⁽¹⁾	1,388		1,387
Total Senior Unsecured Notes	$	3,042	$	3,663

First Lien Notes

The amounts outstanding under our First Lien Notes are summarized in the table below (in millions):



	June 30, 2020		December 31, 2019
2022 First Lien Notes⁽¹⁾	$	—	$	245
2024 First Lien Notes⁽²⁾	—		184
2026 First Lien Notes	1,173		1,172
2028 First Lien Notes	1,235		1,234
Total First Lien Notes	$	2,408	$	2,835

____________


(1)

Schedule of line of credit facilities

The table below represents amounts issued under our letter of credit facilities at June 30, 2020 and December 31, 2019 (in millions):



	June 30, 2020		December 31, 2019
Corporate Revolving Facility⁽¹⁾	$	462	$	604
CDHI	3		3
Various project financing facilities⁽²⁾	336		184
Other corporate facilities⁽³⁾	275		294
Total	$	1,076	$	1,085

____________


(1)	The Corporate Revolving Facility represents our primary revolving facility and matures on March 8, 2023.


(2)	On June 9, 2020, we entered into the GPC Term Loan which provides for $200 million in letter of credit facilities.


(3)	On April 9, 2020, we amended one of our unsecured letter of credit facilities to partially extend the maturity of $100 million in commitments from June 20, 2020 to June 20, 2022.

Schedule of carrying values and estimated fair values of debt instruments

The following table details the fair values and carrying values of our debt instruments at June 30, 2020 and December 31, 2019 (in millions):



	June 30, 2020				December 31, 2019
	Fair Value		Carrying Value		Fair Value		Carrying Value
First Lien Term Loans	$	3,081	$	3,155	$	3,238	$	3,167
Senior Unsecured Notes	3,027		3,042		3,764		3,663
First Lien Notes	2,404		2,408		2,929		2,835
CCFC Term Loan	941		962		982		967
GPC Term Loan	900		867		—		—
Project financing, notes payable and other⁽¹⁾	426		419		822		817
Revolving facilities	122		122		122		122
Total	$	10,901	$	10,975	$	11,857	$	11,571

____________


(1)	Excludes an agreement that is accounted for as a failed sale-leaseback transaction under U.S. GAAP.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details