9. Debt

The following table summarizes the long-term debt of the Company:

	September 30,		December 31,		September 30,
	2014		2013		2013
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	60	$	—	$	—
Term Loans:
Term Loan B	405		405		450
Term Loan C (81 million CAD at September 30, 2014)	73		76		79
Term Loan D (€85 million at September 30, 2014)	108		117		133
Senior Notes:
3.00%, Exchangeable, due 2015	616		617		612
7.375%, due 2016	595		593		592
6.75%, due 2020 (€500 million)	635		690		675
4.875%, due 2021 (€330 million)	419		455		446
Payable to OI Inc.	250		250		250
Other	80		58		79
Total long-term debt	3,241		3,261		3,316
Less amounts due within one year	807		16		18
Long-term debt	$	2,434	$	3,245	$	3,298

On May 19, 2011, the Company’s subsidiary borrowers entered into the Secured Credit Agreement (the “Agreement”). At September 30, 2014, the Agreement included a $900 million revolving credit facility, a $405 million term loan, a 81 million Canadian dollar term loan, and a €85 million term loan, each of which has a final maturity date of May 19, 2016. At September 30, 2014, the Company’s subsidiary borrowers had unused credit of $736 million available under the Agreement.

The weighted average interest rate on borrowings outstanding under the Agreement at September 30, 2014 was 2.02%.

The Company repurchased $15 million and $46 million of the 2015 Exchangeable Notes during the nine months ended September 30, 2014 and 2013, respectively. The amount by which the cash paid exceeded the fair value of the notes repurchased was recorded as a reduction to share owners’ equity. The Company recorded $3 million of additional interest charges for the loss on debt extinguishment and the related write-off of unamortized finance fees for the nine months ended September 30, 2013. As of September 30, 2014 the remaining $616 million balance of the Exchangeable Notes are classified as current liabilities on the balance sheet since they mature on June 1, 2015. The Company intends to refinance these notes prior to their due date.

During March 2013, the Company issued senior notes with a face value of €330 million due March 31, 2021. The notes bear interest at 4.875% and are guaranteed by substantially all of the Company’s domestic subsidiaries. The net proceeds, after deducting debt issuance costs, totaled approximately $418 million.

During March 2013, the Company discharged, in accordance with the indenture, all €300 million of the 6.875% senior notes due 2017. The Company recorded $11 million of additional interest charges for note repurchase premiums and the related write-off of unamortized finance fees.

The Company has a €215 million European accounts receivable securitization program, which extends through September 2016, subject to periodic renewal of backup credit lines.

Information related to the Company’s accounts receivable securitization program is as follows:

	September 30,			December 31,			September 30,
	2014			2013			2013

Balance (included in short-term loans)	$	242		$	276		$	287

Weighted average interest rate	0.57		%	1.41		%	1.23		%

The carrying amounts reported for the accounts receivable securitization program, and certain long-term debt obligations subject to frequently redetermined interest rates, approximate fair value. Fair values for the Company’s significant fixed rate debt obligations are based on published market quotations, and are classified as Level 1 in the fair value hierarchy.

Fair values at September 30, 2014 of the Company’s significant fixed rate debt obligations are as follows:

			Indicated
	Principal		Market		Fair
	Amount		Price		Value
Senior Notes:
3.00%, Exchangeable, due 2015	$	629	$	101.00	$	635
7.375%, due 2016	600		107.50		645
6.75%, due 2020 (€500 million)	635		117.05		743
4.875%, due 2021 (€330 million)	419		107.62		451