Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Our outstanding long-term debt is shown below:



	As of December 31,
(in thousands)	2019			2018
FPU secured first mortgage bonds:
9.08% bond, due June 1, 2022	$	7,990		$	7,986
Uncollateralized Senior Notes:
5.50% note, due October 12, 2020	2,000			4,000
5.93% note, due October 31, 2023	12,000			15,000
5.68% note, due June 30, 2026	20,300			23,200
6.43% note, due May 2, 2028	6,300			7,000
3.73% note, due December 16, 2028	18,000			20,000
3.88% note, due May 15, 2029	50,000			50,000
3.25% note, due April 30, 2032	70,000			70,000
3.48% note, due May 31, 2038	50,000			50,000
3.58% note, due November 30, 2038	50,000			50,000
3.98% note, due August 20, 2039	100,000			—
2.98% note, due December 20, 2034	70,000			—
Term Note due January 21, 2020	—			30,000
Term Note due February 28, 2020	30,000			—
Promissory notes	—			26
Finance lease obligations	—			1,310
Less: debt issuance costs	(822		)	(567		)
Total long-term debt	485,768			327,955
Less: current maturities	(45,600		)	(11,935		)
Total long-term debt, net of current maturities	$	440,168		$	316,020

Annual maturities and principal repayments of long-term debt are as follows:

The following table summarizes our shelf agreements at December 31, 2019:



(in thousands)	Total Borrowing Capacity		Less Amount of Debt Issued			Less Unfunded Commitments		Remaining Borrowing Capacity
Shelf Agreement
Prudential Shelf Agreement ⁽¹⁾	$	220,000	$	(170,000	)	$	—	$	50,000
MetLife Shelf Agreement	150,000		—			—		150,000
NYL Shelf Agreement ⁽²⁾	150,000		(100,000		)	—		50,000
Total	$	520,000	$	(270,000	)	$	—	$	250,000

⁽¹⁾ As described above, in January 2020, we requested and Prudential accepted our request to purchase $50.0 million of our unsecured debt.

⁽²⁾ As described above, in February 2020, we requested and NYL accepted our request to purchase $40.0 million of our unsecured debt.