NOTE 10-FINANCING:

Long-term debt:

	Issuance		Face		As of December 31,
(in millions)	Date	Due Date	amount		2013		2012
1.763% Mitsui credit agreement	1999	2013	$	100	$	—	$	10.0
6.375% Senior unsecured notes	2005	2015	200		199.7		199.6
5.375% Senior unsecured notes	2010	2020	400		398.6		398.4
3.500% Senior unsecured notes	2012	2022	300		299.1		299.0
9.250% Yankee Bonds	1998	2028	125		51.1		51.1
7.500% Senior unsecured notes	2005/2006	2035	1,000		985.5		985.3
6.750% Senior unsecured notes	2010	2040	1,100		1,092.1		1,092.0
5.250% Senior unsecured notes	2012	2042	1,200		1,178.8		1,178.5
Total debt					4,204.9		4,213.9
Less, current portion					—		(10.0		)
Total long-term debt					$	4,204.9	$	4,203.9

The difference between the face amount and the balance as of December 31, 2013 and 2012 of the senior unsecured notes is the unamortized issuance discount, which is being amortized over the term of the related debt.

The bonds, referred above as “Yankee bonds”, contain a covenant requiring Minera Mexico to maintain a ratio of EBITDA to interest expense of not less than 2.5 to 1.0 as such terms are defined in the debt instrument. At December 31, 2013, Minera Mexico was in compliance with this covenant.

The Mitsui credit agreement which was collateralized by pledges of receivables on 31,000 tons of copper per year was fully repaid in December 31, 2013.

Between July 2005 and November 2012 the Company issued senior unsecured notes six times totaling $4.2 billion as listed above. Interest on the notes is paid semi-annually in arrears. The notes rank pari passu with each other and rank pari passu in right of payment with all of the Company’s other existing and future unsecured and unsubordinated indebtedness.

The indentures relating to the notes contain certain restrictive covenants, including limitations on liens, limitations on sale and leaseback transactions, rights of the holders of the notes upon the occurrence of a change of control triggering event, limitations on subsidiary indebtedness and limitations on consolidations, mergers, sales or conveyances. Certain of these covenants cease to be applicable before the notes mature if the Company obtains an investment grade rating. The Company obtained investment grade rating in 2005. The Company has registered these notes under the Securities Act of 1933, as amended. The Company may issue additional debt from time to time pursuant to certain of the indentures.

Related to these notes, the Company capitalized $28.9 million of issuance costs which unamortized balance is included in “Other assets”, non-current on the consolidated balance sheet and are being amortized as interest expense over the life of the loans. At December 31, 2013 and 2012, the balance of capitalized debt issuance costs was $26.1 million and $25.9 million, respectively. Amortization charged to interest expense was $1.9 million, $1.3 million and $0.5 million in 2013, 2012 and 2011, respectively.

The net proceeds from the issuance and sale of the July 2005 notes were principally used to repay outstanding indebtedness of the Company and the balance was used for general corporate purposes. Net proceeds from the other notes were used for general corporate purposes, including the financing of the Company’s capital expenditure program.

If the Company experiences a Change of Control Triggering Event, the Company must offer to repurchase the notes at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any. A Change of Control Trigger Event means a Change of Control (as defined) and a rating decline (as defined), that is, if the rating of the notes, by at least one of the rating agencies shall be decreased by one or more gradations.

At December 31, 2013, the Company was in compliance with the covenants of the notes.

Aggregate maturities of the outstanding borrowings at December 31, 2013, are as follows:

Years	*Principal Due ()**
	(in millions)
2014	—
2015	$	200.0
2016	—
2017	—
Thereafter	4,051.2
Total	$	4,251.2

(*)Total debt maturities do not include the debt discount valuation account of $46.3 million.

At December 31, 2012 other assets included $5.1 million held in escrow accounts as required by the Mitsui’s loan agreement. The funds were released from escrow since the loan was paid in December 2013.