In May 2013, the Company completed an underwritten public offering of 56.5 billion senior unsecured notes consisting of $1.0 billion aggregate principal amount of 0.70% notes due in 2016, $500 million aggregate principal amount offloating rate notes due in 2016, $1.0 billion aggregate principal amount of 1.30% notes due in 2018, $1.0 billion aggregate principal amount offloating rate notes due in 2018, 51.75 billion aggregate principal amount of 2.80% notes due in 2023 and 51.25 billion aggregate principal amount of 4.15% notes due in 2043. Interest on the notes is payable semi- annually. A substantial portion of the net proceeds from the notes were used to repurchase the Company's common stock pursuant to an accelerated share repurchase agreement in May 2013. Certain of the Company's borrowings require that Merck comply with nancial covenants including a requirement that the Total Debt to Capitalization Ratio (as dened in the applicable agreements] not exceed 60%. At December 31, 2013, the Company was in compliance with these covenants. The aggregate maturities of longeterm debt for each of the next ve years are as follows: 2014, $2.1 billion; 2015, $2.1 billion; 2016, 52.4 billion; 201?, 51.1 billion; 2018, 53.0 billion. In May 2012, the Company entered into a $4.0 billion, veyear credit facility maturing in May 2017. The facility provides backup liquidity for the Company's commercial paper borrowing facility and is to be used for general corporate purposes. The Company has not drawn funding from this line of credit. Loans Payable, Long-Term Debt and Other Commitments Loans payable at December 31, 2013 included $2.1 billion of notes due in 2014, $1.6 billion of commercial paper, $402 million of shortiterm foreign borrowings and $370 million of longidated notes that are subject to repawnent at the option of the holder. Loans payable at December 31, 2012 included $1.8 billion of notes due in 2013, $1.7 billion of commercial paper, $454 million of shortiterm foreign borrowings and $328 million of longdated notes that are subject to repayment at the option of the holders. The weighted-average interest rate of the commercial paper borrowings was 0.09% and 0.15% at December 31, 2013 and 2012, respectively. Long-term debt at December 31 consisted of: (in Smillions) 2013 2012 2.80% notes due 2023 $1,749 5 6.50% notes due 2033 1,306 1,310 5.00% notes due 2019 1,293 1,294 4.15% notes due 2043 1,246 3.875% notes clue 2021 1,148 1,147 6.55% notes due 2037 1,143 1,146 6.00% notes due 2017 1,095 1,112 4.00% notes due 2015 1,029 1,049 4.75% notes due 2015 1,023 1,044 2.40% notes due 2022 1,000 1,000 Floating-rate borrowing due 2018 1,000 1.10% notes due 2018 998 998 0.70% notes due 2016 997 1.30% notes due 2018 975 2.25% notes due 2016 866 874 5.85% notes due 2039 749 749 Floating-rate borrowing due 2016 500 6.40% debentures due 2028 499 499 5.75% notes due 2036 498 498 5.95% debentures due 2028 498 498 3.50% notes due 2042 492 492 6.30% debentures due 2026 249 248 5.375% euro-denominated notes due 2014 2,058 Other 186 238 Totals 5 20,539 5 16,254
