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Corporate Debt
 6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
CORPORATE DEBT
CORPORATE DEBT
Corporate debt at June 30, 2017 and December 31, 2016 is outlined in the following table (dollars in millions):
 
Face Value
 
Discount
 
Net
June 30, 2017
 
 
 
 
 
Interest-bearing notes:
 
 
 
 
 
5 3/8% Notes, due 2022
$
540

 
$
(4
)
 
$
536

4 5/8% Notes, due 2023
460

 
(4
)
 
456

Total corporate debt
$
1,000

 
$
(8
)
 
$
992

December 31, 2016
 
 
 
 
 
Interest-bearing notes:
 
 
 
 
 
5 3/8% Notes, due 2022
$
540

 
$
(5
)
 
$
535

4 5/8% Notes, due 2023
460

 
(4
)
 
456

Total interest-bearing notes
1,000

 
(9
)
 
991

Non-interest-bearing debt:
 
 
 
 
 
0% Convertible debentures, due 2019
3

 
—

 
3

Total corporate debt
$
1,003

 
$
(9
)
 
$
994


Conversions of Convertible Debentures
During the six months ended June 30, 2017, $3 million of the Company’s convertible debentures were converted into 0.3 million shares of common stock.
Credit Facility
On June 23, 2017, we entered into an unsecured committed revolving credit facility with certain lenders, which replaced our previous secured committed revolving credit facility entered into in November 2014 and increased our total borrowing capacity under the facility to $300 million. The Company has the ability to borrow against the credit facility for working capital and general corporate purposes. The unsecured committed revolving credit facility will mature on June 23, 2020. At June 30, 2017, there was no outstanding balance under this revolving credit facility.