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DEBT AND BORROWING ARRANGEMENTS
During the six months ended June 28, 2019, the Company issued euro-denominated debt totaling €3,500 million. The carrying value of this debt as of June 28, 2019 was $3,956 million. The general terms of the notes issued are as follows:
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€750 million total principal amount of notes due 2021, at a variable interest rate equal to the three month Euro Interbank Offered Rate ("EURIBOR") plus 0.20 percent;
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€1,000 million total principal amount of notes due 2022, at a fixed interest rate of 0.125 percent;
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€1,000 million total principal amount of notes due 2026, at a fixed interest rate of 0.75 percent; and
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€750 million total principal amount of notes due 2031, at a fixed interest rate of 1.25 percent.
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During the six months ended June 28, 2019, the Company retired upon maturity $1,000 million total principal amount of notes due May 30, 2019, at a fixed interest rate of 1.375 percent and €1,500 million total principal amount of notes due March 8, 2019, at a variable interest rate equal to the three month EURIBOR plus 0.25 percent.
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