Notes Payable and Debt and Financing Arrangements (Tables)

9 Months Ended

Sep. 30, 2014

The Company’s letter of credit facilities and revolving credit facilities at September 30, 2014 and December 31, 2013 were as follows:



Letter of Credit Summary: (U.S. dollars in thousands except percentages)	September 30, 2014 (1)			December 31, 2013 (1)
Revolving credit facility (2)	$	1,000,000		$	1,000,000
Available letter of credit facilities - commitments (3)	$	3,575,000		$	3,575,000
Available letter of credit facilities - in use	$	1,818,665		$	1,895,425
Collateralized by certain assets of the Company’s investment portfolio	66.6		%	67.6		%

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(1)	At September 30, 2014 and December 31, 2013, there were seven available letter of credit facilities.

(2)

At September 30, 2014 and December 31, 2013, the revolving credit available under the November 2013 unsecured credit agreement, which provides for issuance of letters of credit and revolving credit loans up to $1 billion, was unutilized. The credit agreements entered into with Citicorp USA, Inc. in May through November 2013 (the "Citi Agreements") provide for issuance of letters of credit and revolving credit loans up to an aggregate amount of $575.0 million. At September 30, 2014, $575.0 million of letters of credit were issued under these agreements and therefore such amount is not included in this line item.


(3)	The Company has the option to increase the size of the facilities under the Syndicated Credit Agreements by an additional $500 million across such facilities. The Company also has the option to increase the maximum amount of the letters of credit and revolving credit loans available under the 2013 Citi Agreements with the lender's and issuing lender's consent.