February 2021 Notes) of the principal amount of such notes, plus accrued and unpaid interest thereon, provided that at least  65% of the original aggregate principal amount of the February 2019 Notes (for redemptions of February 2019 Notes) and  February 2021 Notes (for redemptions of February 2021 Notes) remain outstanding after giving ef fect to any such redemption. Senior notes redemption  — During December 2014 we redeemed $345 of our February 2019 Notes pursuant to a tender of fer at  a weighted average price equal to 104.116% plus accrued and unpaid interest. The $19 loss on extinguishment of debt was  charged to other income, net and includes the redemption premium and transaction costs associated with the tender of fer and  the write off of $4 of previously deferred financing costs associated with the February 2019 Notes. On December 9, 2014 we elected to redeem $40 of our February 2019 Notes ef fective January 8, 2015 at a price equal to  103.000% plus accrued and unpaid interest. The notes redeemed on January 8, 2015 have been included in current portion of  long-term debt as of December 31, 2014. On February 13, 2015 we elected to redeem the remaining  $15 of our February 2019  Notes effective March 16, 2015 at a price equal to 103.250% plus accrued and unpaid interest. Revolving facility  — On June 20, 2013, we received commitments from existing lenders for a  $500 amended and restated  revolving credit facility (the Amended Revolving Facility) which expires on June 20, 2018. In connection with the  Amended  Revolving Facility, we paid $3 in deferred financing costs to be amortized to interest expense over the life of the facility . We  wrote off $2 of previously deferred financing costs associated with our prior revolving credit facility to other income, net. The Amended Revolving Facility is guaranteed by all of our domestic subsidiaries except for Dana Credit Corporation and  Dana Companies, LLC and their respective subsidiaries (the guarantors) and grants a first priority lien on Dana’ s and the  guarantors’ accounts receivable and inventories and, under certain circumstances, to the extent Dana and the guarantors grant a  first-priority lien on certain other assets and property , a second priority lien on such other assets and property . Advances under the Amended Revolving Facility bear interest at a floating rate based on, at our option, the base rate or  LIBOR (each as described in the revolving credit agreement) plus a mar gin based on the undrawn amounts available under the  agreement as set forth below: Commitment fees are applied based on the average daily unused portion of the available amounts under the  Amended  Revolving Facility. If the average daily unused portion of the revolving facility is less than  50%, the applicable fee will be  0.25% per annum. If the average daily unused portion of the revolving facility is equal to or greater than  50%, the applicable  fee will be 0.375% per annum. Up to $300 of the revolving facility may be applied to letters of credit, which reduces  availability. We pay a fee for issued and undrawn letters of credit in an amount per annum equal to the applicable LIBOR  margin based on a quarterly average availability under the revolving facility and a per annum fronting fee of  0.125%, payable  quarterly. There were no borrowings under the revolving facility at  December 31, 2014 but we had utilized $44 for letters of credit.  Based on our borrowing base collateral of  $347, we had potential availability at December 31, 2014 under the revolving facility  of $303 after deducting the outstanding letters of credit. European receivables loan facility  — Effective December 31, 2013, we terminated our European accounts receivable backed  credit facility (the European Facility).The European Facility was scheduled to terminate on March 8, 2016 and permitted  borrowings up to €75 ($103 at the December 31, 2013 exchange rate). No borrowings were outstanding under the European  Facility as of the termination date.We wrote off $2 of previously deferred financing costs associated with the European  Facility to other income, net. Debt covenants  — At December 31, 2014, we were in compliance with the covenants of our financing agreements. Under the  Amended Revolving Facility and the senior notes, we are required to comply with certain incurrence-based covenants  customary for facilities of these types. 72 Margin Remaining Borrowing Availability Base Rate LIBOR Rate Greater than $350 0.50% 1.50% Greater than $150 but less than or equal to $350 0.75% 1.75% $150 or less 1.00% 2.00%