Note 8—Long-Term Debt

The following is a summary of the Company's long-term debt:

(Dollars in millions)	June 30, 2013		December 31, 2012

Debt issued by UnionBanCal Corporation
Senior debt:
Fixed rate 3.50% notes due June 2022	$	397	$	397
Subordinated debt:
Fixed rate 5.25% notes due December 2013		402		406

Total debt issued by UnionBanCal Corporation		799		803

Debt issued by Union Bank, N.A. and other subsidiaries
Senior debt:
Fixed and floating rate Federal Home Loan Bank advances with maturities ranging from September 2013 to February 2016. These notes bear a combined weighted-average rate of 1.32% at June 30, 2013 and 1.39% at December 31, 2012		1,800		2,100
Floating rate notes due June 2014. These notes, which bear interest at 0.95% above 3-month LIBOR, had a rate of 1.23% at June 30, 2013 and 1.26% at December 31, 2012		300		300
Fixed rate 2.125% notes due December 2013		400		399
Fixed rate 3.00% notes due June 2016		699		699
Fixed rate 2.125% notes due June 2017		499		499
Note payable:
Fixed rate 6.03% notes due July 2014 (related to consolidated VIE)		6		6
Subordinated debt:
Fixed rate 5.95% notes due May 2016		724		729
Subordinated debt due to BTMU:
Floating rate subordinated debt due June 2023. This note, which bears interest at 1.2% above 3-month LIBOR, had a rate of 1.48% at June 30, 2013		750		—
Junior subordinated debt payable to trusts⁽¹⁾:
Floating rate notes with maturities ranging from March 2033 to September 2036. These notes bear a combined weighted-average rate of 2.62% at June 30, 2013 and 2.66% at December 31, 2012		66		66
Capital lease obligations with a combined weighted average interest rate of 4.88% at June 30, 2013 and 4.72% at December 31, 2012⁽¹⁾		15		21

Total debt issued by Union Bank, N.A. and other subsidiaries		5,259		4,819

Total long-term debt	$	6,058	$	5,622

(1): Long-term debt assumed through PCBC acquisition

Subordinated debt due to BTMU

On June 28, 2013, the Bank borrowed $750 million from The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) under a subordinated debt agreement. The subordinated debt bears interest at a rate of three-month LIBOR plus 1.2%, payable quarterly, and will mature on June 28, 2023. The terms and conditions of the agreement are equivalent to those which would apply in a similar transaction with a non-related party. The subordinated debt due to BTMU is a junior obligation to the Bank's existing and future outstanding senior indebtedness, and qualifies as Tier 2 capital under the federal banking agency risk-based capital guidelines.