SHORT-TERM DEBT AND LINES OF CREDIT

3 Months Ended

Mar. 31, 2013

SHORT-TERM DEBT AND LINES OF CREDIT

SHORT-TERM DEBT AND LINES OF CREDIT

NOTE 9 — SHORT-TERM DEBT AND LINES OF CREDIT

Our outstanding short-term borrowings were as follows:

(Millions, except percentages)	March 31, 2013		December 31, 2012
Commercial paper	$	556.4	$	482.4
Average discount rate on commercial paper	0.33%		0.40%
Loan under term credit facility *	$	200.0	—
Average interest rate on loan under term credit facility	0.80%		—

* Relates to the purchase of Fox Energy Company LLC. See Note 4, "Acquisitions," for more information regarding this purchase.

The commercial paper outstanding at March 31, 2013, had maturity dates ranging from April 1, 2013, through May 24, 2013. The terms of the loan outstanding under the term credit facility require repayment upon the earlier of issuance of replacement long-term debt or December 31, 2013.

The table below presents our average amount of short-term borrowings based on daily outstanding balances during the three months ended March 31:

(Millions)	2013		2012
Average amount of commercial paper	$	400.7	$	357.5
Average amount of loan under term credit facility	8.9		—

We manage our liquidity by maintaining adequate external financing commitments. The information in the table below relates to our revolving credit facilities used to support our commercial paper borrowing program, including remaining available capacity under these facilities, and our short-term debt:

(Millions)	Maturity	March 31, 2013		December 31, 2012
Revolving credit facility (Integrys Energy Group)	05/17/2014	$	275.0	$	275.0
Revolving credit facility (Integrys Energy Group)	05/17/2016	200.0		200.0
Revolving credit facility (Integrys Energy Group)	06/13/2017	635.0		635.0
Revolving credit facility (WPS)	05/17/2014	135.0		135.0
Revolving credit facility (WPS)	06/13/2017	115.0		115.0
Revolving credit facility (PGL)	06/13/2017	250.0		250.0
Term credit facility (WPS) *	12/31/2013	200.0		—
Total short-term credit capacity		$	1,810.0	$	1,610.0
Less:
Letters of credit issued inside credit facilities		$	29.1	$	25.5
Loan outstanding under term credit facility *		200.0		—
Commercial paper outstanding		556.4		482.4
Accrued interest or original discount on outstanding commercial paper		0.1		—
Available capacity under existing agreements		$	1,024.4	$	1,102.1

* Relates to the purchase of Fox Energy Company LLC. See Note 4, "Acquisitions," for more information regarding this purchase.