7. Debt

The following table summarizes the long-term debt of the Company:

	March 31,		December 31,		March 31,
	2013		2012		2012
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	126	$	—	$	55
Term Loans:
Term Loan A (51 million AUD at March 31, 2013)	53		53		177
Term Loan B	525		525		600
Term Loan C (102 million CAD at March 31, 2013)	100		102		117
Term Loan D (€123 million at March 31, 2013)	158		163		188
Senior Notes:
3.00%, Exchangeable, due 2015	647		642		628
7.375%, due 2016	591		591		588
6.875%, due 2017 (€300 million)			396		401
6.75%, due 2020 (€500 million)	641		660		668
4.875%, due 2021 (€330 million)	423
Senior Debentures:
7.80%, due 2018	250		250		250
Other	92		95		139
Total long-term debt	3,606		3,477		3,811
Less amounts due within one year	56		23		87
Long-term debt	$	3,550	$	3,454	$	3,724

On May 19, 2011, the Company’s subsidiary borrowers entered into the Secured Credit Agreement (the “Agreement”). At March 31, 2013, the Agreement included a $900 million revolving credit facility, a 51 million Australian dollar term loan, a $525 million term loan, a 102 million Canadian dollar term loan, and a €123 million term loan, each of which has a final maturity date of May 19, 2016. At March 31, 2013, the Company’s subsidiary borrowers had unused credit of $717 million available under the Agreement.

The weighted average interest rate on borrowings outstanding under the Agreement at March 31, 2013 was 2.20%.

During March 2013, a subsidiary of the Company issued senior notes with a face value of €330 million due March 31, 2021. The notes bear interest at 4.875% and are guaranteed by substantially all of the Company’s domestic subsidiaries. The net proceeds, after deducting debt issuance costs, totaled approximately $418 million.

During March 2013, a subsidiary of the Company discharged, in accordance with the indenture, all €300 million of the 6.875% senior notes due 2017. The Company recorded $11 million of additional interest charges for note repurchase premiums and the related write-off of unamortized finance fees.

The Company has a €240 million European accounts receivable securitization program, which extends through September 2016, subject to annual renewal of backup credit lines. Information related to the Company’s accounts receivable securitization program is as follows:

	March 31,			December 31,			March 31,
	2013			2012			2012

Balance (included in short-term loans)	$	241		$	264		$	276

Weighted average interest rate	1.38		%	1.33		%	1.42		%

The carrying amounts reported for the accounts receivable securitization program, and certain long-term debt obligations subject to frequently redetermined interest rates, approximate fair value. Fair values for the Company’s significant fixed rate debt obligations are based on published market quotations, and are classified as Level 1 in the fair value hierarchy.

Fair values at March 31, 2013 of the Company’s significant fixed rate debt obligations are as follows:

			Indicated
	Principal		Market	Fair
	Amount		Price	Value
Senior Notes:
3.00%, Exchangeable, due 2015	$	690	100.98	$	697
7.375%, due 2016	600		114.80	689
6.75%, due 2020 (€500 million)	641		112.55	721
4.875%, due 2021 (€330 million)	423		101.14	428
Senior Debentures:
7.80%, due 2018	250		117.00	293