Debt

Debt is composed of the following obligations.



December 31
(In millions)	2018		2017
Short term debt:
Senior notes of CNAF, 6.950%, face amount of $150, due January 15, 2018	$	—	$	150

Long term debt:
Senior notes of CNAF:
5.875%, face amount of $500, due August 15, 2020	499		498
5.750%, face amount of $400, due August 15, 2021	399		398
3.950%, face amount of $550, due May 15, 2024	547		547
4.500%, face amount of $500, due March 1, 2026	498		498
3.450%, face amount of $500, due August 15, 2027	495		495
Debenture of CNAF, 7.250%, face amount of $243, due November 15, 2023	242		242
Subordinated variable rate debt of Hardy, face amount of $30, due September 15, 2036⁽¹⁾	—		30
Total long term debt	2,680		2,708
Total debt	$	2,680	$	2,858

(1) In the third quarter of 2018, the Company redeemed $30 million of subordinated variable rate debt of Hardy due September 15, 2036.

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, 2018 giving it immediate access to approximately $111 million of additional liquidity. As of December 31, 2018 and 2017, 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. 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, 2018, was $8.7 billion. As of December 31, 2018 and 2017, the Company had no outstanding borrowings under the credit agreement.

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, 2018 and 2017.

The combined aggregate maturities for debt as of December 31, 2018 are presented in the following table.



(In millions)
2019	$	—
2020	500
2021	400
2022	—
2023	243
Thereafter	1,550
Less discount	(13		)
Total	$	2,680