Note 10 – Debt

As of the indicated dates, the principal amount of QEP's debt, including amounts outstanding under its revolving credit facility, consisted of the following:


	June 30, 2011			December 31, 2010
	(in millions)
Revolving Credit Facility	$	500.0		$	400.0
7.50% Senior Notes due 2011		—			58.5
6.05% Senior Notes due 2016		176.8			176.8
6.80% Senior Notes due 2018		138.6			138.6
6.80% Senior Notes due 2020		138.0			138.0
6.875% Senior Notes due 2021		625.0			625.0

Total principal amount of debt		1,578.4			1,536.9

Less unamortized discount		(5.8	)		(6.1	)

Total long-term debt outstanding	$	1,572.6		$	1,530.8

Of the total debt outstanding on June 30, 2011, only the $500 million drawn under the revolving credit facility (described below) will mature within the next five years.

Credit Arrangements

QEP has a revolving credit facility which provides for loan commitments of $1.0 billion from a syndicate of financial institutions. The facility matures March 2013. The credit facility has restrictive covenants that limit the amount of funded indebtedness that QEP may incur. At June 30, 2011, QEP was in compliance with all of its debt covenants.

Senior Notes

The Company has $1,078.4 million principal amount of senior notes outstanding with maturities ranging from September 2016 to March 2021 and coupons ranging from 6.05% to 6.875%. The senior notes pay interest semi-annually, are unsecured and senior obligations and rank equally with all of our other existing and future unsecured and senior obligations. QEP may redeem some or all of its senior notes at any time before their maturity at a redemption price based on a make-whole amount plus accrued and unpaid interest to the date of redemption. The indenture governing QEP's senior notes contains customary events of default and covenants that may limit QEP's ability to, among other things, place liens on its property or assets.