LONG-TERM DEBT

A summary of long-term debt is as follows:



(In thousands)	June 30, 2013		September 30, 2012
Senior Notes, bearing fixed interest at 6.5% per annum, net of unamortized premium	$	658,500	$	450,000
2011 Revolving Credit Facility, bearing interest at approximately 3.0%⁽¹⁾ per annum at June 30, 2013 and 3.2%⁽¹⁾ per annum at September 30, 2012	680,000		380,000
(1) After the impact of our interest rate swaps.	$	1,338,500	$	830,000

6.50% Senior Notes due 2020

On June 21, 2013, we issued an additional $200 million aggregate principal amount (the "Additional Notes") of our 6.50% Senior Notes due 2020 (the "Senior Notes"). The Additional Notes constitute an issuance under the same indenture governing the $450 million aggregate principal amount of Senior Notes issued on January 18, 2012, which together form a single series with an aggregate principal amount of $650 million. We received net proceeds from the Additional Notes, after deducting underwriting discounts and offering expenses, of approximately $211.6 million. This amount includes $5.1 million of accrued interest due from February 1, 2013 through the date of issuance. The net proceeds also include a premium of $8.5 million to be amortized through maturity on February 1, 2020. The receipt of a premium results in an effective interest rate of 5.72% for the Additional Notes and an effective interest rate of 6.26% on the aggregate principal amount of $650 million.

2011 Revolving Credit Facility

As of June 30, 2013, we had $680 million of outstanding borrowings under our five-year $750 million senior secured revolving credit facility (the "Credit Facility"). The Credit Facility was entered into in May 2011 and matures in May 2016. Our wholly-owned subsidiary, Atwood Offshore Worldwide Limited (“AOWL”), is the borrower under the Credit Facility, and we and certain of our other subsidiaries are guarantors under the facility. Except as described below, borrowings under the Credit Facility bear interest at the Eurodollar rate plus a margin of 2.5%. Currently, certain borrowings effectively bear interest at a fixed rate due to our interest rate swaps (See Note 6).

We were in compliance with all financial covenants under the Credit Facility at June 30, 2013.

In July 2013, we and AOWL amended the Credit Facility to, among other things, eliminate all scheduled commitment reductions totaling $200 million under the Credit Facility. In addition, AOWL entered into an Incremental Commitment Agreement (the "Incremental Commitment Agreement") further modifying the Credit Facility. The Incremental Commitment Agreement provides for an additional tranche of commitments and increases the amount of the Credit Facility by $350 million to an aggregate of $1.1 billion. The maturity date of all borrowings under the Credit Facility remains May 6, 2016. Borrowings under the incremental tranche of commitments bear interest at the Eurodollar rate plus a margin ranging from 2.00% to 2.25%, based on our corporate credit ratings. In connection with the Incremental Commitment Agreement, we mortgaged as additional collateral under the Credit Facility the Atwood Condor, as well as pledged the equity interests in our subsidiaries that own, directly or indirectly, the Atwood Condor. No other terms of the Credit Facility were amended by the Incremental Commitment Agreement, and all other terms and conditions of the Credit Facility, including the financial and other restrictive covenants set forth therein, are applicable to the incremental tranche of commitments.

Subject to the satisfaction of certain conditions precedent and the agreement by the lenders, the Credit Facility accordion may be exercised further to increase commitments by up to an additional $200 million for a total commitment of up to $1.3 billion.