Note H. Debt

Debt is composed of the following obligations.



December 31
(In millions)	2016		2015
Short term debt:
Senior notes of CNAF, 6.500%, face amount of $350, due August 15, 2016	$	—	$	350

Long term debt:
Senior notes of CNAF:
6.950%, face amount of $150, due January 15, 2018	150		150
7.350%, face amount of $350, due November 15, 2019	349		349
5.875%, face amount of $500, due August 15, 2020	498		497
5.750%, face amount of $400, due August 15, 2021	398		397
3.950%, face amount of $550, due May 15, 2024	546		546
4.500%, face amount of $500, due March 1, 2026	498		—
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	2,710		2,210
Total debt	$	2,710	$	2,560

CCC is a member of the 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 held $5 million of FHLBC stock as of December 31, 2016 giving it access to approximately $111 million of additional liquidity. As of December 31, 2016 and 2015, CCC had no outstanding borrowings from the FHLBC.

During 2015, the Company entered into a five-year $250 million senior unsecured revolving credit facility with a syndicate of banks which may 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 the credit agreement includes two optional one-year extensions prior to the first and 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 defined ratio of consolidated indebtedness to consolidated total capitalization. The minimum consolidated net worth, as defined as of December 31, 2016, was $8.7 billion. As of December 31, 2016 and 2015, the Company had no outstanding borrowings under the credit agreements.

The Company's debt obligations contain customary covenants for investment grade issuers. The Company was in compliance with all covenants as of and for the years ended December 31, 2016 and 2015.

The combined aggregate maturities for debt as of December 31, 2016 are presented in the following table.



(In millions)
2017	$	—
2018	150
2019	350
2020	500
2021	400
Thereafter	1,323
Less discount	(13		)
Total	$	2,710