Note I. Debt

Debt is composed of the following obligations.

Debt



December 31
(In millions)	2013		2012
Short term debt:
Senior notes of CNAF, 5.850%, face amount of $549, due December 15, 2014	$	549	$	—
Other debt	—		13
Total short term debt	549		13

Long term debt:
Senior notes of CNAF:
5.850%, face amount of $549, due December 15, 2014	—		548
6.500%, face amount of $350, due August 15, 2016	349		348
6.950%, face amount of $150, due January 15, 2018	149		149
7.350%, face amount of $350, due November 15, 2019	348		348
5.875%, face amount of $500, due August 15, 2020	497		496
5.750%, face amount of $400, due August 15, 2021	397		397
Debenture of CNAF, 7.250%, face amount of $243, due November 15, 2023	241		241
Subordinated variable rate debt of Hardy, face amount of $30, due September 15, 2036	30		30
Total long term debt	2,011		2,557
Total debt	$	2,560	$	2,570

In 2013, CCC became a member of the Federal Home Loan Bank of Chicago (FHLBC). FHLBC membership provides participants with access to additional sources of liquidity through various programs and services. As a requirement of membership in the FHLBC, CCC acquired $16 million of FHLBC stock giving it access to approximately $330 million of additional liquidity. As of December 31, 2013, CCC has no outstanding borrowings from the FHLBC.

In 2012, the Company entered into a credit agreement with a syndicate of banks. The credit agreement established a four-year $250 million senior unsecured revolving credit facility which is intended to be used for general corporate purposes. At the Company's election, the commitments under the credit agreement may be increased from time to time up to an additional aggregate amount of $100 million, and there is an option to extend the facility for an additional year prior to the second anniversary of the closing date subject to applicable consents. Under the credit agreement, the Company is required to pay a facility fee which would adjust automatically in the event of a change in the Company's financial ratings. The credit agreement includes several covenants, including maintenance of a minimum consolidated net worth and a specified ratio of consolidated indebtedness to consolidated total capitalization. The minimum consolidated net worth, as defined as of December 31, 2013, was $8.2 billion. As of December 31, 2013, we had no outstanding borrowings under the credit agreement.

The Company's remaining debt obligations contain customary covenants for investment grade issuers. The Company is in compliance with all covenants as of and for the year ended December 31, 2013.

The combined aggregate maturities for debt at December 31, 2013 are presented in the following table.

Maturity of Debt



(In millions)
2014	$	549
2015	—
2016	350
2017	—
2018	150
Thereafter	1,523
Less discount	(12		)
Total	$	2,560