7. Debt

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

	June 30,		December 31,		June 30,
	2013		2012		2012
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	—	$	—	$	—
Term Loans:
Term Loan A (25 million AUD at June 30, 2013)	23		53		173
Term Loan B	525		525		600
Term Loan C (102 million CAD at June 30, 2013)	97		102		113
Term Loan D (€123 million at June 30, 2013)	161		163		177
Senior Notes:
3.00%, Exchangeable, due 2015	607		642		633
7.375%, due 2016	592		591		589
6.875%, due 2017 (€300 million)			396		377
6.75%, due 2020 (€500 million)	653		660		628
4.875%, due 2021 (€330 million)	431
Senior Debentures:
7.80%, due 2018	250		250		250
Other	84		95		128
Total long-term debt	3,423		3,477		3,668
Less amounts due within one year	87		23		101
Long-term debt	$	3,336	$	3,454	$	3,567

On May 19, 2011, the Company’s subsidiary borrowers entered into the Secured Credit Agreement (the “Agreement”). At June 30, 2013, the Agreement included a $900 million revolving credit facility, a 25 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 June 30, 2013, the Company’s subsidiary borrowers had unused credit of $816 million available under the Agreement.

The weighted average interest rate on borrowings outstanding under the Agreement at June 30, 2013 was 2.13%.

During the six months ended June 30, 2013, a subsidiary of the Company repurchased $46 million of the 2015 Exchangeable Notes. The amount by which the cash paid exceeded the fair value of the notes repurchased was recorded as a reduction to share owners’ equity. The Company recorded $3 million of additional interest charges for the loss on debt extinguishment and the related write-off of unamortized finance fees.

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:

	June 30,			December 31,			June 30,
	2013			2012			2012

Balance (included in short-term loans)	$	290		$	264		$	302

Weighted average interest rate	1.20		%	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 June 30, 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	$	644	101.78	$	655
7.375%, due 2016	600		112.70	676
6.75%, due 2020 (€500 million)	653		110.91	724
4.875%, due 2021 (€330 million)	431		99.26	428
Senior Debentures:
7.80%, due 2018	250		115.50	289