v3.4.0.3

DEBT | 3 Months Ended
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Mar. 31, 2016
DEBT |
DEBT | 11.DEBT Bunge’s commercial paper program is supported by an identical amount of committed back-up bank credit lines (the “Liquidity Facility”) provided by banks that are rated at least A-1 by Standard & Poor’s Financial Services and P-1 by Moody’s Investors Service. The cost of borrowing under the Liquidity Facility would typically be higher than the cost of issuing under Bunge’s commercial paper program. At March 31, 2016, there was $150 million outstanding under the commercial paper program and no borrowings were outstanding under the Liquidity Facility. At March 31, 2016, Bunge had $3,313 million of unused and available borrowing capacity under its committed credit facilities with a number of lending institutions. The fair value of Bunge’s long-term debt is based on interest rates currently available on comparable maturities to companies with credit standing similar to that of Bunge. The carrying amounts and fair value of long-term debt are as follows:
|  | March 31, 2016 |  | December 31, 2015 |
|  | Carrying |  | Fair Value |  | Fair Value |  | Carrying |  | Fair Value |  | Fair Value |
(US$ in millions) |  | Value |  | (Level 2) |  | (Level 3) |  | Value |  | (Level 2) |  | (Level 3) |
Long-term debt, including current portion |  | $ | 4,058 |  | $ | 4,214 |  | $ | — |  | $ | 3,795 |  | $ | 3,879 |  | $ | 53 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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