BB&T 2008 Annual Report Download - page 108

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BB&T CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
NOTE 10. Long-Term Debt
Long-term debt is summarized as follows:
December 31,
2008 2007
(Dollars in millions)
Parent Company
6.50% Subordinated Notes Due 2011 (1,3) $ 648 $ 648
4.75% Subordinated Notes Due 2012 (1,3) 497 496
5.20% Subordinated Notes Due 2015 (1,3) 997 997
4.90% Subordinated Notes Due 2017 (1,3) 368 365
5.25% Subordinated Notes Due 2019 (1,3) 600 600
Branch Bank
Fixed Rate Secured Borrowings Due 2010 (5) — 4,000
Floating Rate Senior Notes Due 2008 — 500
Floating Rate Senior Notes Due 2009 (9) 516 500
Floating Subordinated Notes Due 2016 (1,9) 350 350
Floating Subordinated Notes Due 2017 (1,9) 300 300
4.875% Subordinated Notes Due 2013 (1,3) 250 249
5.625% Subordinated Notes Due 2016 (1,3) 399 399
Federal Home Loan Bank Advances to Branch Bank (4)
Varying maturities to 2028 9,838 7,210
Junior Subordinated Debt to Unconsolidated Trusts (2)
5.85% BB&T Capital Trust I Securities Due 2035 514 514
6.75% BB&T Capital Trust II Securities Due 2036 598 598
6.82% BB&T Capital Trust IV Securities Due 2077 (6) 600 600
8.95% BB&T Capital Trust V Securities Due 2068 (7) 450 —
Other Securities (8) 182 183
Other Long-Term Debt 66 37
Fair value hedge-related basis adjustments 859 147
Total Long-Term Debt $18,032 $18,693
(1) Subordinated notes that qualify under the risk-based capital guidelines as Tier 2 supplementary capital,
subject to certain limitations.
(2) Securities that qualify under the risk-based capital guidelines as Tier 1 capital, subject to certain limitations.
(3) These fixed rate notes were swapped to floating rates based on LIBOR. At December 31, 2008, the effective
rates paid on these borrowings ranged from 2.02% to 5.17%.
(4) At December 31, 2008, the weighted average cost of these advances was 4.04% and the weighted average
maturity was 7.1 years.
(5) This borrowing was called effective October 14, 2008.
(6) These securities are fixed rate through June 12, 2037 and then switch to a floating rate based on LIBOR.
(7) $360 million of this issuance was swapped to a floating rate based on LIBOR. At December 31, 2008 the
effective rate on the swapped portion was 5.37%.
(8) These securities were issued by companies acquired by BB&T. At December 31, 2008, the effective rate paid
on these borrowings ranged from 3.70% to 10.07%. These securities have varying maturities through 2035.
(9) These floating-rate securities are based on LIBOR and had an effective rate of 2.33% as of December 31, 2008.
Excluding the capitalized leases set forth in Note 6, future debt maturities total $535 million, $326 million, $2.2
billion, $560 million and $1.2 billion for the next five years. The maturities for 2014 and later years total $13.3 billion.
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