BB&T 2012 Annual Report Download - page 133
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111
NOTE 10. Long-Term Debt
Long-term debt comprised the following:
December 31,
2012 2011
(Dollars in millions)
BB&T Corporation:
3.85% Senior Notes Due 2012 $ ― $ 1,000
3.38% Senior Notes Due 2013 500 500
5.70% Senior Notes Due 2014 510 510
2.05% Senior Notes Due 2014 700 700
Floating Rate Senior Note Due 2014 (1) 300 300
3.95% Senior Notes Due 2016 500 499
3.20% Senior Notes Due 2016 999 999
2.15% Senior Notes Due 2017 748 ―
1.60% Senior Notes Due 2017 749 ―
1.45% Senior Notes Due 2018 499 ―
6.85% Senior Notes Due 2019 539 538
4.75% Subordinated Notes Due 2012 (2) ― 490
5.20% Subordinated Notes Due 2015 (2) 933 933
4.90% Subordinated Notes Due 2017 (2) 345 342
5.25% Subordinated Notes Due 2019 (2) 586 586
3.95% Subordinated Notes Due 2022 (2) 298 ―
Branch Bank:
Floating Rate Subordinated Notes Due 2016 (2)(3) 350 350
Floating Rate Subordinated Notes Due 2017 (2)(3) 262 262
4.875% Subordinated Notes Due 2013 (2) 222 222
5.625% Subordinated Notes Due 2016 (2) 386 386
FHLB Advances to Branch Bank: (4)
Varying maturities to 2034 8,994 8,998
Junior Subordinated Debt to Unconsolidated Trusts (5) ― 3,271
Other Long-Term Debt 100 83
Fair value hedge-related basis adjustments 594 834
Total Long-Term Debt $ 19,114 $ 21,803
(1) This floating-rate senior note is based on LIBOR and had an effective rate of 1.01% at December 31, 2012.
(2) Subordinated notes that qualify under the risk-based capital guidelines as Tier 2 supplementary capital, subject to certain
limitations.
(3) These floating-rate securities are based on LIBOR, but the majority of the cash flows have been swapped to a fixed rate.
The effective rate paid on these securities including the effect of the swapped portion was 3.25% at December 31, 2012.
(4) Certain of these advances have been swapped to floating rates from fixed rates or from fixed rates to floating rates. At
December 31, 2012, the weighted average rate paid on these advances including the effect of the swapped portion was
3.58%, and the weighted average maturity was 6.9 years.
(5) Securities that qualified under the risk-based capital guidelines as Tier 1 capital, subject to certain limitations.
Excluding capitalized leases, future debt maturities total $1.7 billion, $2.1 billion, $1.1 billion, $3.9 billion, and $2.5 billion
for the next five years. The maturities for 2018 and later years total $7.8 billion.
In connection with the acquisition of BankAtlantic, BB&T assumed $285 million in junior subordinated debt to
unconsolidated trusts, which was redeemed prior to December 31, 2012. BB&T has no junior subordinated debt outstanding
as of December 31, 2012.