Our long-term debt includes fixed rate secured and variable rate unsecured debt. Our secured debt is secured equally and ratably by a first priority lien on certain transmission and distribution assets. See “Deed of Trust” below for additional information. At March 31, 2022 and December 31, 2021, our long-term debt consisted of the following:


	At March 31,		At December 31,
	2022		2021
Fixed Rate Secured:
4.10% Senior Notes due June 1, 2022 (a)	$	-	$	400
7.00% Debentures due September 1, 2022		482		482
2.75% Senior Notes due June 1, 2024		500		500
2.95% Senior Notes due April 1, 2025		350		350
0.55% Senior Notes due October 1, 2025		450		450
3.86% Senior Notes Series A, due December 3, 2025		174		174
3.86% Senior Notes Series B, due January 14, 2026		38		38
3.70% Senior Notes due November 15, 2028		650		650
5.75% Senior Notes due March 15, 2029		318		318
2.75% Senior Notes due May 15, 2030		700		700
7.00% Senior Notes due May 1, 2032		494		494
7.25% Senior Notes due January 15, 2033		323		323
7.50% Senior Notes due September 1, 2038		300		300
5.25% Senior Notes due September 30, 2040		475		475
4.55% Senior Notes due December 1, 2041		400		400
5.30% Senior Notes due June 1, 2042		348		348
3.75% Senior Notes due April 1, 2045		550		550
3.80% Senior Notes due September 30, 2047		325		325
4.10% Senior Notes due November 15, 2048		450		450
3.80% Senior Notes due June 1, 2049		500		500
3.10% Senior Notes due September 15, 2049		700		700
3.70% Senior Notes due May 15, 2050		400		400
2.70% Senior Notes due November 15, 2051		500		500
5.35% Senior Notes due October 1, 2052		300		300
Fixed rate secured long-term debt		9,727		10,127
Variable Rate Unsecured:
Term loan credit agreement maturing April 29, 2023		1,185		-
Variable rate unsecured long-term debt		1,185		-
Total long-term debt		10,912		10,127
Unamortized discount and debt issuance costs		(93)		(95)
Less amount due currently		(482)		(882)
Long-term debt, less amounts due currently	$	10,337	$	9,150

(a)In March 2022, we redeemed in full the $400 million aggregate principal amount of the notes that were to mature on June 1, 2022. See “2022 Notes Redemption” below for more information.

On January 28, 2022, we entered into an unsecured term loan credit agreement with a commitment equal to an aggregate principal amount of $1.30 billion (January 2022 Term Loan Credit Agreement). The January 2022 Term Loan Credit Agreement matures on April 29, 2023. The January 2022 Term Loan Credit Agreement provides that we can borrow up to the full amount in up to four borrowings, at our option, at any time before April 28, 2022. Under the January 2022 Term Loan Credit Agreement, we borrowed $400 million on January 28, 2022, $600 million on February 28, 2022 (the February 2022 borrowing), $185 million on March 28, 2022, and $115 million on April 28, 2022 (the April 2022 borrowing). At March 31, 2022, aggregate borrowings under the January 2022 Term Loan Credit Agreement totaled $1.185 billion. Following the April 2022 borrowing, no remaining borrowings are available under the January 2022 Term Loan Credit Agreement. The proceeds from each borrowing were used for general corporate purposes, including to repay outstanding CP Notes and, in the case of the February 2022 borrowing, to redeem $400 million aggregate principal amount outstanding of our 4.10% Senior Secured Notes due June 1, 2022 (2022 notes), plus accrued and unpaid interest on the 2022 notes. Loans under the January 2022 Term Loan Credit Agreement bear interest, at our option, at either (i) an adjusted term SOFR (calculated based on one-month term SOFR as of a specified date, plus an adjustment of 0.10% (SOFR Adjustment)) plus a spread of 0.575%, (ii) an adjusted daily simple SOFR (calculated based on daily simple SOFR as of a specified date, plus the SOFR Adjustment) plus a spread of 0.575%, or (iii) for any day, at a rate equal to the greatest of: (1) the prime rate publicly announced by the administrative agent on such date, (2) the federal funds effective rate on such date plus 0.50%, and (3) daily simple SOFR on such date, plus 1.0%.

On March 1, 2022, we redeemed in full the $400 million aggregate principal amount of 2022 notes that were outstanding, which were to mature on June 1, 2022. The redemption price was equal to 100% of the principal amount of the 2022 notes, plus accrued interest to, but not including, the redemption date of March 1, 2022. Following the redemption of the 2022 notes, none of the 2022 notes remained outstanding.

Our secured debt is secured equally and ratably by a first priority lien on all property acquired or constructed by Oncor for use in its electricity transmission and distribution business, subject to certain exceptions. The property is mortgaged under the Deed of Trust. The Deed of Trust permits us to secure indebtedness with the lien of the Deed of Trust up to the aggregate of (i) the amount of available bond credits, and (ii) 85% of the lower of the fair value or cost of certain property additions that could be certified to the Deed of Trust collateral agent. At March 31, 2022, the amount of available bond credits was $2.112 billion and the amount of future debt we could secure with property additions, subject to those property additions being certified to the Deed of Trust collateral agent, was $5.110 billion.

Borrowings under the CP Program, the Credit Facility and January 2022 Term Loan Credit Agreement are not secured.