exchanged installment notes totaling approximately $ 4.8 billion and approximately $ 400 million of inter- national paper promissory notes for interests in enti- ties formed to monetize the notes .
international paper determined that it was not the primary benefi- ciary of these entities , and therefore should not consolidate its investments in these entities .
during 2006 , these entities acquired an additional $ 4.8 bil- lion of international paper debt securities for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by these entities at december 31 , 2006 .
since international paper has , and intends to affect , a legal right to offset its obligations under these debt instruments with its investments in the entities , international paper has offset $ 5.0 billion of interest in the entities against $ 5.0 billion of international paper debt obligations held by the entities as of december 31 , 2007 .
international paper also holds variable interests in two financing entities that were used to monetize long-term notes received from sales of forestlands in 2002 and 2001 .
see note 8 of the notes to consolidated financial statements in item 8 .
financial statements and supplementary data for a further discussion of these transactions .
capital resources outlook for 2008 international paper expects to be able to meet pro- jected capital expenditures , service existing debt and meet working capital and dividend requirements during 2008 through current cash balances and cash from operations , supplemented as required by its various existing credit facilities .
international paper has approximately $ 2.5 billion of committed bank credit agreements , which management believes is adequate to cover expected operating cash flow variability during our industry 2019s economic cycles .
the agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon international paper 2019s credit rating .
the agreements include a $ 1.5 billion fully commit- ted revolving bank credit agreement that expires in march 2011 and has a facility fee of 0.10% ( 0.10 % ) payable quarterly .
these agreements also include up to $ 1.0 billion of available commercial paper-based financ- ings under a receivables securitization program that expires in october 2009 with a facility fee of 0.10% ( 0.10 % ) .
at december 31 , 2007 , there were no borrowings under either the bank credit agreements or receiv- ables securitization program .
the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .
funding decisions will be guided by our capi- tal structure planning objectives .
the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .
the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .
the company was in compliance with all its debt covenants at december 31 , 2007 .
principal financial covenants include maintenance of a minimum net worth , defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock , plus any goodwill impairment charges , of $ 9 billion ; and a maximum total debt to capital ratio , defined as total debt divided by total debt plus net worth , of 60% ( 60 % ) .
maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .
at december 31 , 2007 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by standard & poor 2019s ( s&p ) and moody 2019s investor services ( moody 2019s ) , respectively .
the company currently has short-term credit ratings by s&p and moody 2019s of a-2 and p-3 , respectively .
contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2007 , were as follows : in millions 2008 2009 2010 2011 2012 thereafter maturities of long-term debt ( a ) $ 267 $ 1300 $ 1069 $ 396 $ 532 $ 3056 debt obligations with right of offset ( b ) 2013 2013 2013 2013 2013 5000 .

<i>In millions</i>
2008
2009
2010
2011
2012
Thereafter
Maturities of long-term debt (a)
$267
$1,300
$1,069
$396
$532
$3,056
Debt obligations with right of offset (b)
–
–
–
–
–
5,000
Lease obligations
136
116
101
84
67
92
Purchase obligations (c)
1,953
294
261
235
212
1,480
Total (d)
$2,356
$1,710
$1,431
$715
$811
$9,628

( a ) total debt includes scheduled principal payments only .
( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to affect , a legal right to offset these obligations with investments held in the entities .
accordingly , in its con- solidated balance sheet at december 31 , 2007 , international paper has offset approximately $ 5.0 billion of interests in the entities against this $ 5.0 billion of debt obligations held by the entities ( see note 8 in the accompanying consolidated financial statements ) .
( c ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .
( d ) not included in the above table are unrecognized tax benefits of approximately $ 280 million. .

Question: Analyse this data from a financial earnings document. during 2006 what was the initial debt balance prior to the issuance of additional international paper debt securities for cash
Choices:
0.4
5.6
-195.8
0.2
10
Correct choice index: 0