DTE Energy 2008 Annual Report Download - page 22

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NOTE 6 — LONG-TERM DEBT AND PREFERRED SECURITIES
Long-Term Debt
Our long-term debt outstanding and interest rates of debt outstanding at December 31 were:
Substantially all of our net utility property is subject to the lien of our mortgage. Should we fail to timely pay our indebtedness under the
mortgage, such failure may create cross defaults in the indebtedness of DTE Energy.
The following table shows the scheduled debt maturities and sinking fund requirements, excluding any unamortized discount or premium on
debt:
Debt Retirements and Redemptions
In 2008, the following debt has been retired, through optional redemption or payment at maturity:
Preferred and Preference Securities — Authorized and Unissued
At December 31, 2008, we had 7 million shares of preferred stock with a par value of $1 per share and 4 million shares of preference stock
with a par value of $1 per share authorized, with no shares issued.
20
(in Millions) 2008 2007
First Mort
g
a
g
e Bonds, interest
p
a
y
able semi-annuall
y
7.06% series due 2012 $40 $40
8.25% series due 2014 80 80
Remarketable securities, interest payable semi-annually
6.45% series due 2038 —75
Senior notes, interest
p
a
y
able semi-annuall
y
6.125% series due 2008 —200
5.26% series due 2013
60 —
5.94% series due 2015 140 —
6.04% series due 2018
100 —
5.00% series due 2019 120 120
6.36% series due 2020
50 —
6.44% series due 2023 25 —
6.78% series due 2028
75 —
5.70% series due 2033 200 200
890 715
Less: unamortized discount (1)
—
Less: amount due within one year —(275)
Total $889 $440
2014 and
(in Millions) 2009 2010 2011 2012 2013 thereafter Total
Amount to mature $ — $ — $
—
$40 $60 $790 $890
(in Millions)
Month Retired Type Interest Rate Maturity Amount
June
Remarketable
Securities (1)
6.45%
2038
75
September Senior Notes
(2)
6.125%
2008 200
$275
(1) These Remarketable Securities were optionally redeemed with proceeds from the issuance of new Senior Notes.
(2) These Senior Notes were redeemed with the proceeds from the issuance of new Senior Notes and short-term debt.