. this facility replaced the company 2019s then existing separate $ 600 million revolving credit facility and $ 250 million letter of credit facilities . as of december 31 , 2001 , $ 496 million was available . commitment fees on the facility at december 31 , 2001 were .50% ( .50 % ) per annum . the company 2019s recourse debt borrowings are unsecured obligations of the company . in may 2001 , the company issued $ 200 million of remarketable or redeemable securities ( 2018 2018roars 2019 2019 )