v3.7.0.1
Debt (Notes)
 3 Months Ended
Mar. 31, 2017
Debt Disclosure [Abstract]  
Debt
DEBT

DEBT BALANCE, NET OF UNAMORTIZED ISSUANCE COSTS (in millions)
 
March 31,
2017
 
December 31, 2016
Total debt
$
3,819

 
$
4,109

Unamortized issuance costs
(53
)
 
(55
)
Current maturities
(1
)
 
(1
)
Debt, Net of Current Maturities and Unamortized Issuance Costs
$
3,765

 
$
4,053



REVOLVING CREDIT FACILITY AND DROPDOWN CREDIT FACILITY

AVAILABLE CAPACITY UNDER CREDIT FACILITIES (in millions)
 
Total
Capacity
 
Amount Borrowed as of March 31, 2017
 
Outstanding
Letters of Credit
 
Available Capacity
 
Expiration
TLLP Revolving Credit Facility (a)
$
600

 
$
40

 
$
—

 
$
560

 
January 29, 2021
TLLP Dropdown Credit Facility
1,000

 
—

 
—

 
1,000

 
January 29, 2021
Total Credit Facilities (b)
$
1,600

 
$
40

 
$
—

 
$
1,560

 
 


(a)    The weighted average interest rate for borrowings under our Revolving Credit Facility was 3.23% at March 31, 2017.
(b)
We are allowed to request that the loan availability be increased up to an aggregate of $2.1 billion, subject to receiving increased commitments from the lenders.