The following table summarizes the terms of such revolving credit facilities as of September 30, 2016:

			TDS			U.S. Cellular
(Dollars in millions)
Maximum borrowing capacity			$	400		$	300
Letters of credit outstanding			$	1		$	16
Amount borrowed			$	–		$	–
Amount available for use			$	399		$	284
Illustrative borrowing rate: One-month London Interbank Offered
	Rate ("LIBOR") plus contractual spread1			2.28	%		2.28	%
	Illustrative LIBOR Rate			0.53	%		0.53	%
	Contractual spread			1.75	%		1.75	%
Commitment fees on amount available for use2				0.30	%		0.30	%

Agreement date				June 2016			June 2016
Maturity date				June 2021			June 2021

1		Borrowings under the revolving credit facility bear interest either at a LIBOR rate or at an alternative Base Rate as defined in the revolving credit agreement, plus an applicable margin, at TDS' or U.S. Cellular’s option. TDS and U.S. Cellular may select a borrowing period of either one, two, three or six months (or other period of twelve months or less if requested by TDS or U.S. Cellular and approved by the lenders).

2		The revolving credit facility has commitment fees based on the unsecured senior debt ratings assigned to TDS and U.S. Cellular by certain ratings agencies.