Long-Term Debt

See our statements of capitalization for details on our long-term debt.

In December 2013, our $125.0 million of 4.80% Senior Notes matured, and the outstanding principal balance was repaid.

In November 2013, we issued $450.0 million of 4.752% Senior Notes. These notes are due in November 2044.

In February 2013, our $22.0 million of 3.95% Senior Notes matured, and the outstanding principal balance was repaid.

Our First Mortgage Bonds and Senior Notes are subject to the terms and conditions of our First Mortgage Indenture. Under the terms of the Indenture, substantially all our property is pledged as collateral for these outstanding debt securities. All of these debt securities require semi-annual payments of interest. Our Senior Notes become noncollateralized if we retire all of our outstanding First Mortgage Bonds and no new mortgage indenture is put in place.

Our long-term debt obligations contain covenants related to payment of principal and interest when due and various financial reporting obligations. Failure to comply with these covenants could result in an event of default, which could result in the acceleration of outstanding debt obligations.

A schedule of all principal debt payment amounts related to bond maturities, excluding those associated with long-term debt to parent, is as follows:



(Millions)	Payments
2014	$	—
2015	125.0
2016	—
2017	125.0
2018	—
Later years	925.1
Total	$	1,175.1