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Debt and Financing Arrangements
6 Months Ended
Jun. 30, 2013
Debt and Financing Arrangement [Abstract]  
DEBT AND FINANCING ARRANGEMENT
3. DEBT AND FINANCING ARRANGEMENT
 

Credit Facility

 

       Total letter of credit capacity available to WPZ under the $2.4 billion credit facility is $1.3 billion. At June 30, 2013, no letters of credit have been issued and no loans are outstanding under the credit facility. We may borrow up to $400 million under the credit facility to the extent not otherwise utilized by WPZ and Transcontinental Gas Pipe Line Company, LLC (Transco). At June 30, 2013, the full $400 million under the credit facility was available to us.

 

       On July 31, 2013, WPZ amended the $2.4 billion credit facility to increase the aggregate commitments to $2.5 billion and extend the maturity date to July 31, 2018. The amended credit facility may also, under certain conditions, be increased by up to an additional $500 million. We may borrow up to $500 million under the amended credit facility to the extent not otherwise utilized by WPZ and Transco.

 

       WPZ participates in a commercial paper program, and WPZ management considers amounts outstanding under this program to be a reduction of available capacity under the credit facility. At June 30, 2013, WPZ had $710 million in outstanding commercial paper.