DTE Energy 2012 Annual Report Download - page 89
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Table of Contents
Long-Term Debt
The Company’s long-term debt outstanding and weighted average interest rates (a) of debt outstanding at December 31 were:
Mortgage bonds, notes, and other
5.4% due 2013 to 2033
$1,298
5.0% due 2013 to 2042
3,515
5.3% due 2014 to 2038
893
5.6% due 2013 to 2042
889
165
6,760
Less amount due within one year
(355)
$6,405
6.6% due 2013 to 2015
$ 643
Less amount due within one year
(164)
$ 479
6.5% due 2061
$ 280
5.25% due 2062
—
$ 280
_______________________________________
(a) Weighted average interest rates as of December 31, 2012 are shown below the description of each category of debt.
(b) DTE Electric Tax-Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds.
Debt Issuances
In 2012, the Company issued the following long-term debt:
DTE Electric
June
Mortgage Bonds (a)
2.65%
2022
$250
DTE Electric
June
Mortgage Bonds (a)
3.95%
2042
250
DTE Energy
October
Junior Subordinated Debentures (b)
5.25%
2062
200
DTE Gas
December
Mortgage Bonds (c)
3.92%
2042
70
_______________________________________
(a) Proceeds were used for the early redemption of DTE Electric long-term debt; for the repayment of short-term borrowings; and for general corporate purposes.
(b) Proceeds were used to pay a portion of the purchase price for a portfolio of on-site energy projects; for the repayment of short-term borrowings; and for general corporate purposes.
(c) Proceeds were used for general corporate purposes.
Debt Redemptions
In 2012, the following debt was redeemed:
87