Old COPPER Company, Inc. - 10-K filing on 2016-03-16

Long-Term Debt (Tables)

12 Months Ended

Jan. 30, 2016



($ in millions)	2015			2014
Issue:
5.65% Senior Notes Due 2020^{(1) (2)}	$	400		$	400
5.75% Senior Notes Due 2018^{(1) (3)}	300			300
6.375% Senior Notes Due 2036^{(1) (4)}	400			400
6.9% Notes Due 2026	2			2
7.125% Debentures Due 2023	10			10
7.4% Debentures Due 2037⁽⁵⁾	326			326
7.625% Notes Due 2097	500			500
7.65% Debentures Due 2016	78			78
7.95% Debentures Due 2017	220			220
8.125% Senior Notes Due 2019 ⁽⁶⁾	400			400
2013 Term Loan Facility⁽⁷⁾	2,194			2,216
2014 Term Loan ⁽⁸⁾	—			498
Total debt, excluding unamortized debt issuance costs, capital leases and note payable	4,830			5,350
Unamortized debt issuance costs	(61		)	(95		)
Total debt, excluding capital leases and note payable	4,769			5,255
Less: current maturities	101			28
Total long-term debt, excluding capital leases and note payable	$	4,668		$	5,227
Weighted-average interest rate at year end	6.5		%	6.4		%
Weighted-average maturity (in years)	13 years


(1)	These debt issuances contain a change of control provision that would obligate us, at the holders’ option, to repurchase the debt at a price of 101%. These provisions trigger if there were a beneficial ownership change of 50% or more of our common stock.


(2)	$4 million and $5 million of unamortized debt issue costs in 2015 and 2014, respectively.


(3)	$1 million and $1 million of unamortized debt issue costs in 2015 and 2014, respectively.


(4)	$6 million and $7 million of unamortized debt issue costs in 2015 and 2014, respectively.


(5)	$1 million and $1 million of unamortized debt issue costs in 2015 and 2014, respectively.


(6)	$8 million and $10 million of unamortized debt issue costs in 2015 and 2014, respectively.


(7)	$41 million and $58 million of unamortized debt issue costs in 2015 and 2014, respectively.


(8)	$13 million of unamortized debt issue costs in 2014.



Title of Security	Principal Amount Outstanding Prior to 2014 Tender Offers ($ in millions)		Tender Premium⁽¹⁾		Principal Amount Tendered ($ in millions)		Principal Amount Accepted for Purchase ($ in millions)		Principal Amount Outstanding After the 2014 Tender Offers ($ in millions)
6.875% Medium-Term Notes due 2015	$	200	$	67.50	$	140	$	140	$	60
7.65% Debentures due 2016	200		105.00		122		122		78
7.95% Debentures due 2017	285		97.50		194		65		220
Total	$	685			$	456	$	327	$	358


(1)	Per $1,000 principal amount of Securities.