DTE Energy 2014 Annual Report Download - page 87
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In 2014, the following debt was issued:
DTE Energy
May
Senior Notes (a)
3.50%
2024
$ 350
DTE Electric
June
Mortgage Bonds (a)
3.77%
2026
100
DTE Electric
June
Mortgage Bonds (a)
4.60%
2044
150
DTE Electric
July
Mortgage Bonds (a)
3.375%
2025
350
DTE Electric
July
Mortgage Bonds (a)
4.30%
2044
350
DTE Energy
November
Senior Notes (a)
2.40%
2019
300
DTE Gas
December
Mortgage Bonds (a)
4.35%
2044
150
_______________________________________
(a) Proceeds were used for the redemption of long-term debt, repayment of short-term borrowings and general corporate purposes.
In 2014, the following debt was redeemed:
DTE Electric
March
Mortgage Bonds
Various
2014
$ 13
DTE Electric
March
Securitization Bonds
6.62%
2014
100
DTE Electric
April
Tax Exempt Revenue Bonds (a)
2.35%
2024
31
DTE Electric
April
Tax Exempt Revenue Bonds (a)
4.65%
2028
32
DTE Gas
May
Mortgage Bonds
8.25%
2014
80
DTE Energy
May
Senior Notes
7.625%
2014
300
DTE Electric
June
Tax Exempt Revenue Bonds (a)
4.875%
2029
36
DTE Electric
June
Tax Exempt Revenue Bonds (a)
6.00%
2036
69
DTE Electric
July
Senior Notes
4.80%
2015
200
DTE Electric
August
Senior Notes
5.40%
2014
200
DTE Electric
August
Tax Exempt Revenue Bonds (a)
5.25%
2029
60
DTE Electric
September
Securitization Bonds
6.62%
2014
96
DTE Energy
Various
Other Long Term Debt
Various
2014
20
$ 1,237
_______________________________________
(a) 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.
The following table shows the scheduled debt maturities, excluding any unamortized discount or premium on debt:
Amount to mature $ 266
$ 465
$ 9
$ 407
$ 427
$ 7,046
$ 8,620
At December 31, 2014, DTE Energy had $280 million of 6.5% Junior Subordinated Debentures due 2061 and $200 million of 5.25% Junior
Subordinated Debentures due 2062. DTE Energy has the right to defer interest payments on the debt securities. Should DTE Energy exercise this right, it
cannot declare or pay dividends on, or redeem, purchase or acquire, any of its capital stock during the deferral period. Any deferred interest payments will
bear additional interest at the rate associated with the related debt issue. As of December 31, 2014, no interest payments have been deferred on the debt
securities.
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