LINES OF CREDIT:

Credit facilities and available liquidity as of December 31, 2013 were as follows (in thousands):



	Total Facility		Usage		Available Liquidity		Expiration Date
Commercial Paper Program/ Revolving Credit Facility	$	200,000	$	65,500	$	134,500	May 2018
Uncommitted Bank Lines	10,000		—		10,000		August 2014

Total	$	210,000	$	65,500	$	144,500

SJG renewed the uncommitted bank line of credit during the third quarter 2013. Also, SJG amended and extended its revolving credit facility during the third quarter of 2013; as a result, the maturity date was extended from May 2015 to May 2018.

The SJG facility is provided by a syndicate of banks and contains one financial covenant limiting the ratio of indebtedness to total capitalization (as defined in the credit agreement) to not more than 0.65 to 1 measured at the end of each fiscal quarter. SJG was in compliance with this covenant as of December 31, 2013.

SJG manages a commercial paper program under which SJG may issue short-term, unsecured promissory notes to qualified investors up to a maximum aggregate amount outstanding at any time of $200.0 million. The notes have fixed maturities which vary by note, but may not exceed 270 days from the date of issue. Proceeds from the notes are used for general corporate purposes. SJG uses the commercial paper program in tandem with the $200.0 million revolving credit facility and does not expect the principal amount of borrowings outstanding under the commercial paper program and the credit facility at any time to exceed an aggregate of $200.0 million.

Average borrowings outstanding under these credit facilities, not including letters of credit, during the twelve months ended December 31, 2013 and 2012 were $91.4 million and $142.4 million, respectively. The maximum amount outstanding under these credit facilities, not including letters of credit, during the twelve months ended December 31, 2013 and 2012 were $121.9 million and $180.5 million, respectively.

Based upon the existing credit facilities and a regular dialogue with our banks, we believe that there will continue to be sufficient credit available to meet our business’ future liquidity needs. Borrowings under these credit facilities are at market rates. The weighted average interest rate on these borrowings, which changes daily, was 0.37% , 0.48% and 0.62% at December 31, 2013 , 2012 and 2011, respectively.