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Long-Term Debt
 6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt

Long-term debt consisted of the following (in millions):
 
June 30, 2019
 
December 31, 2018
 
Principal
 
Discount and Issue Costs
 
Carrying Value
 
Principal
 
Discount and Issue Costs
 
Carrying Value
Direct Senior Obligations of AFG:
 
 
 
 
 
 
 
 
 
 
 
4.50% Senior Notes due June 2047
$
590

 
$
(2
)
 
$
588

 
$
590

 
$
(2
)
 
$
588

3.50% Senior Notes due August 2026
425

 
(4
)
 
421

 
425

 
(4
)
 
421

Other
3

 
—

 
3

 
3

 
—

 
3

 
1,018

 
(6
)
 
1,012

 
1,018

 
(6
)
 
1,012

 
 
 
 
 
 
 
 
 
 
 
 
Direct Subordinated Obligations of AFG:
 
 
 
 
 
 
 
 
 
 
 
6-1/4% Subordinated Debentures due September 2054
150

 
(5
)
 
145

 
150

 
(5
)
 
145

6% Subordinated Debentures due November 2055
150

 
(5
)
 
145

 
150

 
(5
)
 
145

5.875% Subordinated Debentures due March 2059
125

 
(4
)
 
121

 
—

 
—

 
—

 
425

 
(14
)
 
411

 
300

 
(10
)
 
290

 
$
1,443

 
$
(20
)
 
$
1,423

 
$
1,318

 
$
(16
)
 
$
1,302


AFG has no scheduled principal payments on its long-term debt for the balance of 2019 or in the subsequent five years.

In March 2019, AFG issued $125 million in 5.875% Subordinated Debentures due in 2059.

AFG can borrow up to $500 million under its revolving credit facility, which expires in June 2021. Amounts borrowed under this agreement bear interest at rates ranging from 1.00% to 1.875% (currently 1.375%) over LIBOR based on AFG’s credit rating. No amounts were borrowed under this facility at June 30, 2019 or December 31, 2018.