BB&T 2010 Annual Report Download - page 133
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NOTE 11. Long-Term Debt
Long-term debt comprised the following:
December 31,
2010 2009
(Dollars in millions)
Parent Company
3.10% Senior Notes Due 2011 $ 250 $ 250
3.85% Senior Notes Due 2012 1,000 1,000
3.38% Senior Notes Due 2013 500 500
5.70% Senior Notes Due 2014 510 509
3.95% Senior Notes Due 2016 499 —
6.85% Senior Notes Due 2019 538 538
6.50% Subordinated Notes Due 2011 (1) 610 610
4.75% Subordinated Notes Due 2012 (1) 490 489
5.20% Subordinated Notes Due 2015 (1) 932 932
4.90% Subordinated Notes Due 2017 (1) 339 336
5.25% Subordinated Notes Due 2019 (1) 586 586
Branch Bank
Floating Rate Subordinated Notes Due 2016 (1)(2) 350 350
Floating Rate Subordinated Notes Due 2017 (1)(2) 261 261
4.875% Subordinated Notes Due 2013 (1) 222 222
5.625% Subordinated Notes Due 2016 (1) 386 386
Federal Home Loan Bank Advances to Branch Bank (3)
Varying maturities to 2034 10,243 10,541
Junior Subordinated Debt to Unconsolidated Trusts (4) 3,269 3,269
Other Long-Term Debt 123 98
Fair value hedge-related basis adjustments 622 499
Total Long-Term Debt $21,730 $21,376
(1) Subordinated notes that qualify under the risk-based capital guidelines as Tier 2 supplementary capital,
subject to certain limitations.
(2) These floating-rate securities are based on LIBOR and had an effective rate of .61% as of December 31, 2010.
(3) $800 million of these advances were swapped to a floating rate based on LIBOR. At December 31, 2010, the
weighted average cost of these advances was 3.18% including the effect of the swapped portion, and the
weighted average maturity was 6.2 years.
(4) Securities that qualify under the risk-based capital guidelines as Tier 1 capital, subject to certain limitations.
A summary of the significant terms of these securities are detailed in the following table.
Excluding the capitalized leases set forth in Note 6, future debt maturities total $2.1 billion, $1.5 billion, $1.6
billion, $1.0 billion and $1.1 billion for the next five years. The maturities for 2016 and later years total $14.2
billion.
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