Debt

Long-term debt consists of the following unsecured senior debt:



					Outstanding
Maturity	Effective Rate		Coupon Rate		January 31, 2015			February 1, 2014
					(Dollars in Millions)
2017	6.31	%	6.25	%	$	650		$	650
2021	4.81	%	4.00	%	650			650
2023	3.25	%	3.25	%	350			350
2023	4.78	%	4.75	%	300			300
2029	7.36	%	7.25	%	200			200
2033	6.05	%	6.00	%	300			300
2037	6.89	%	6.88	%	350			350
	5.54	%			2,800			2,800
Unamortized debt discount					(7		)	(8		)
Long-term debt					$	2,793		$	2,792

Based on quoted market prices (Level 1 per ASC No. 820, "Fair Value Measurements and Disclosures"), the estimated fair value of our long-term debt was $3.1 billion at January 31, 2015 and $3.0 billion at February 1, 2014.

We have various facilities upon which we may draw funds, including a 5-year, $1 billion senior unsecured revolving credit facility which matures in June 2018. There were no draws on these facilities during 2014 or 2013.

Our various debt agreements contain covenants including limitations on additional indebtedness and certain financial tests. As of January 31, 2015, we were in compliance with all covenants of the various debt agreements.

We also have outstanding trade letters of credit and stand-by letters of credit totaling approximately $52 million at January 31, 2015, issued under uncommitted lines with two banks.