BB&T 2014 Annual Report Download - page 119
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Table of Contents
The following table reflects the carrying amounts and effective interest rates for long-term debt:
BB&T Corporation fixed rate senior notes $ 6,583 2.39 % $ 5,845 2.60 %
BB&T Corporation floating rate senior notes 1,050 1.07 700 1.13
BB&T Corporation fixed rate subordinated notes 2,170 2.30 2,166 2.47
Branch Bank fixed rate senior notes 4,047 1.72 1,999 1.71
Branch Bank floating rate senior notes 500 0.72 1,150 0.69
Branch Bank fixed rate subordinated notes 1,234 2.86 386 1.71
Branch Bank floating rate subordinated notes 612 3.27 612 2.56
FHLB advances (weighted average maturity of 5.9 years at December 31, 2014) 6,496 4.12 8,110 3.96
Other long-term debt 119 101
Fair value hedge-related basis adjustments 501 424
Total long-term debt $ 23,312 $ 21,493
The effective rates above reflect the impact of cash flow and fair value hedges, as applicable. Subordinated notes with a remaining maturity of one year or
greater qualify under the risk-based capital guidelines as Tier 2 supplementary capital, subject to certain limitations.
During the third quarter of 2014, BB&T extinguished $1.1 billion of FHLB advances, resulting in a $122 million loss on early extinguishment of debt.
Future debt maturities (excluding capital leases) $ 1,064 $ 5,674 $ 3,829 $ 2,309 $ 2,269 $ 8,126
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Source: BB&T CORP, 10-K, February 25, 2015 Powered by Morningstar® Document Research℠
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