
	March 31, 2018
(in millions)	Debt Instrument		Unamortized Issuance Expense		Unamortized Debt Discount		Total
Variable rate (4.240% at March 31, 2018) 2016 term loan facility, due December 2020 (1)	$	1,191	$	(8)	$	−	$	1,183
4.05% Senior Notes due January 2020 (2)		92		−		−		92
4.10% Senior Notes due March 2022		1,000		(6)		−		994
4.95% Senior Notes due January 2025 (2)		1,000		(8)		(2)		990
7.50 % Senior Notes due April 2026		650		(9)		−		641
7.75 % Senior Notes due October 2027		500		(7)		−		493
Total debt	$	4,433	$	(38)	$	(2)	$	4,393


	December 31, 2017
(in millions)	Debt Instrument		Unamortized Issuance Expense		Unamortized Debt Discount		Total
Variable rate (3.980% at December 31, 2017) 2016 term loan facility, due December 2020 (1)	$	1,191	$	(8)	$	−	$	1,183
4.05% Senior Notes due January 2020 (2)		92		−		–		92
4.10% Senior Notes due March 2022		1,000		(7)		–		993
4.95% Senior Notes due January 2025 (2)		1,000		(8)		(2)		990
7.50% Senior Notes due April 2026		650		(10)		−		640
7.75% Senior Notes due October 2027		500		(7)		–		493
Total debt	$	4,433	$	(40)	$	(2)	$	4,391

(1)

Concurrent with the closing of the new 2018 credit facility agreement on April 26, 2018, the Company repaid the $1,191 million secured term loan balance with cash on hand and borrowings under the new credit facility. The Company’s initial borrowings under the 2018 credit facility were $360 million, a portion of which related to other working capital needs. See Note 16 – Subsequent Events for more information on the 2018 credit facility.

(2)

In February and June 2016, Moody’s and S&P downgraded certain senior notes, increasing the interest rates by 175 basis points effective July 2016. As a result of the downgrades, interest rates increased to 5.80% for the 2020 Notes and 6.70% for the 2025 Notes.