Debt

The following is a summary of the Company's debt:



	As of
(in millions)	December 30, 2016		April 1, 2016
Short-term debt and current maturities of long-term debt
Euro-denominated commercial paper	$	622	$	559
Current maturities of long-term debt	48		79
Current maturities of capitalized lease liabilities	36		72
Short-term debt and current maturities of long term debt	$	706	$	710

Long-term debt, net of current maturities
4.45% term notes, due September 2022	$	454	$	454
Loan payable, due July 2021	72		—
Loan payable, due March 2021	571		575
Loan payable, due January 2019	227		284
Loan payable, due May 2016	—		71
Revolving credit facility⁽¹⁾	675		395
Lease credit facility, various⁽¹⁾	63		49
Capitalized lease liabilities	101		141
Borrowings for assets acquired under long-term financing	74		51
Mandatorily redeemable preferred stock outstanding, due March 2023	61		61
Other borrowings	3		4
Long-term debt	2,301		2,085
Less: current maturities of long-term debt	84		151
Long-term debt, net of current maturities	$	2,217	$	1,934

⁽¹⁾Classified as short-term if the Company intends to repay within 12 months and as long-term otherwise.

During fiscal 2017, CSC increased the maximum size of its existing euro-denominated commercial paper program (the ECP Program) from €500 million to €1 billion, or its equivalent, in alternative currencies. The Company had borrowings of $1.7 billion and repayments of $1.6 billion under the ECP Program during the nine months ended December 30, 2016.

During the first nine months of fiscal 2017, the Company, through its CSC Australia PTY Limited (CSCA) subsidiary, entered into an AUD $100 million loan payable maturing July 2021, the proceeds of which were used to repay amounts drawn under the revolving credit facility by CSCA incurred to complete the UXC acquisition. The loan payable agreement permits the Company to request incremental loans of up to AUD $175 million which, if requested by the Company and agreed to by the lenders, would result in a maximum of AUD $275 million in total term facilities. During the nine months ended December 30, 2016, the Company repaid $18 million of its loan payable due January 2019. During fiscal 2017, the loan payable due May 2016 was replaced with borrowings under the revolving credit facility.

During the nine months ended December 30, 2016, the Company repaid $54 million and borrowed $50 million under the loan payable due March 2021.

During the nine months ended December 30, 2016, CSC amended its existing revolving credit facility to expand its borrowing capacity to $3.02 billion and extend the maturity date. In addition, the Company entered into conditional revolver commitments totaling $740 million which will further expand CSC's borrowing capacity up to $3.76 billion if fully accepted by the Company, contingent upon the closing of its announced merger with the Enterprise Services segment of Hewlett Packard Enterprise Company (HPES). CSC drew down $920 million on the revolving credit facility largely to fund the UXC and Xchanging acquisitions and repaid $520 million during the first nine months of fiscal 2017. Additionally, during the first nine months of fiscal 2017, the Company repaid $254 million of acquired credit facility borrowings related to its acquisition of Xchanging (see Note 3 - Acquisitions). The amended maturity dates of commitments under the credit facility are as follows:



Fiscal year	(in millions)
2020	$	70
2021	70
2022	2,880
Total	$	3,020

During the first nine months of fiscal 2016, the Company amended its existing master loan and security agreement entered into by CSC Asset Funding I LLC , which reduced the aggregate commitment under its lease credit facility from $250 million to $150 million. The drawdown availability period of the lease credit facility expires November 29, 2017 and, once drawn, converts into individual term notes of varying terms up to 60 months, depending upon the nature of the underlying equipment or software being financed. CSC was in compliance with all financial covenants associated with its borrowings as of December 30, 2016.