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v3.19.3.a.u2

DEBT (Tables) | 6 Months Ended
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Dec. 31, 2019
DEBT |
Schedule of long-term debt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Unamortized | ​ | Debt | ​ | Semi-annual
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Debt | ​ | Issuance | ​ | interest
Notes |  | Issue Date |  | Price |  | Yield |  | Discount |  | Costs |  | payments
($ in millions) | ​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2024 Senior Notes | ​ | November 2019 | ​ | 99.421 | % | 2.122 | % | $ | 3 | ​ | $ | 3 | ​ | June 1/December 1
2029 Senior Notes (1) |  | November 2019 |  | 99.046 |  | 2.483 |  | ​ | 6 |  | ​ | 4 |  | June 1/December 1
2049 Senior Notes |  | November 2019 |  | 98.769 |  | 3.189 |  | ​ | 8 |  | ​ | 7 |  | June 1/December 1
(1) | In April and May 2019, in anticipation of the issuance of the 2029 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $500 million at a weighted-average all-in rate of 2.50%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a loss in OCI of $33 million that is being amortized to interest expense over the life of the 2029 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the 2029 Senior Notes will be 3.15% over the life of the debt.

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