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Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Schedule of long-term debt
Long-term debt consists of the following:
(in millions)
March 31, 2019
 
December 31, 2018
CVR Partners:
 
 
 
9.25% Senior Secured Notes due 2023 (1)
$
645

 
$
645

6.50% Senior Notes due 2021
2

 
2

Unamortized discount and debt issuance costs
(17
)
 
(18
)
Total CVR Partners Debt
$
630

 
$
629

 


 


6.50% Senior Notes due 2022 (2)
$
500

 
$
500

Finance lease obligations
69

 
44

Unamortized debt issuance cost
(3
)
 
(3
)
Current portion of finance lease obligations
(5
)
 
(3
)
Total Other Debt
$
561

 
$
538

 
 
 
 
Total Long-Term Debt
$
1,191

 
$
1,167


 
(1)
This debt was issued at a $16 million discount which is being amortized, as interest expense, over the remaining term of the debt. Debt issuance costs associated with this debt totaled $9 million.
(2)
Debt issuance costs associated with this debt totaled $9 million. On January 29, 2019, the 2022 Senior Notes were amended such that the CVR Refining was replaced by CVR Energy Inc. as the primary guarantor, on a senior unsecured basis, of the 2022 Senior Notes. The CVR Energy Inc. guarantee is full and unconditional and joint and several. See Note 14 ("Supplemental Cash Flow Information") for further discussion and implications of this change to guarantor.

Credit Facilities
 
 
 
 
 
 
 
 
 
 
(in millions)
Total Capacity
 
Amount Borrowed as of March 31, 2019
 
Outstanding Letters of Credit
 
Available Capacity as of March 31, 2019
 
Maturity Date
 
 
Amended and Restated Asset Based (ABL) Credit Facility (3)
$
400

 
$
—

 
$
7

 
$
393

 
November 14, 2022
Asset Based (ABL) Credit Facility (4)
50

 
—

 
—

 
50

 
September 30, 2021
 
(3)
Loans under the Amended and Restated ABL Credit Facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability.
(4)
Loans under the ABL Credit Facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter’s excess availability.