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Debt And Interest Expense
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt And Interest Expense Debt
Senior Notes
The following table summarizes information related to our Senior notes:
Issuance DateMaturity DateInterest RatePrincipal
As of December 31,
20232022
(in millions except interest rates)
Senior notes due 2025March 27, 2015April 1, 20255.25 %$500.0 $500.0 
Senior notes due 2027July 5, 2017July 15, 20274.75 %550.0 550.0 
Senior notes due 2031June 8, 2021June 15, 20312.70 %750.0 750.0 
Principal amount of senior notes1,800.0 1,800.0 
Less: unamortized issuance costs(9.8)(12.1)
Total Senior notes $1,790.2 $1,787.9 
The 2031 Notes were issued at 99.712% of par value. The 2025 and 2027 notes were issued at par and all outstanding senior notes are senior unsecured obligations of the Company. Interest is payable on each of the senior notes semi-annually. Each of the senior notes issuances is redeemable, in whole or in part, at the Company’s option at times and redemption prices specified in the indentures.
2023 Credit Facility
On December 6, 2023, the Company entered into a credit agreement for a $200.0 million committed unsecured revolving credit facility (the “2023 Credit Facility”) which takes the place of its prior unsecured revolving credit facility. The 2023 Credit Facility includes a financial covenant requiring that the Company’s leverage ratio not exceed 4.0 to 1.0, which may be increased subject to certain conditions defined in the 2023 Credit Facility Agreement. As of December 31, 2023, there were no borrowings outstanding under the 2023 Credit Facility, and the Company was in compliance with the financial covenants. The 2023 Credit Facility expires on December 6, 2028, at which time any outstanding borrowings are due. Verisign may from time to time request lenders to agree on a discretionary basis to increase the commitment amount by up to an aggregate of $150.0 million.