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Senior Notes
12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Senior Notes
Senior Notes
At December 31, 2013, the Company has two senior notes outstanding. The principal terms of these notes are summarized below.
 
2022
Senior
Notes
 
2042
Senior
Notes
Issue date
October 2012

 
August 2012

Maturity date
October 2022

 
August 2042

Potential Call Date
October 2015

 
August 2017

Par value (in millions)
$
140.0

 
$
200.0

Call Price
At Par

 
At Par

Stated coupon
5.25
%
 
6.375
%
Coupon frequency
Quarterly

 
Quarterly



On February 11, 2014, The Company sold $400.0 million aggregate principal amount of 4.25% senior notes due 2024 (the “2024 senior notes”). The unsecured 2024 senior notes pay interest semi-annually and may be redeemed at any time, in whole or in part, at a make-whole redemption price plus accrued and unpaid interest. In addition to customary event of default provisions, the indenture limits the Company’s ability to consolidate, merge or sell all or substantially all of its assets, and to create certain liens.