Debt

12 Months Ended

Dec. 31, 2020

DEBT

Long-Term Debt

The following table presents our long-term debt:


		June 30,		December 31,
Series	Due	2021		2020
		(In Thousands)
AES Indiana first mortgage bonds:
3.875% (1)	August 2021	$	55,000	$	55,000
3.875% (1)	August 2021	40,000		40,000
3.125% (1)	December 2024	40,000		40,000
6.60%	January 2034	100,000		100,000
6.05%	October 2036	158,800		158,800
6.60%	June 2037	165,000		165,000
4.875%	November 2041	140,000		140,000
4.65%	June 2043	170,000		170,000
4.50%	June 2044	130,000		130,000
4.70%	September 2045	260,000		260,000
4.05%	May 2046	350,000		350,000
4.875%	November 2048	105,000		105,000
0.75% (2)	April 2026	30,000		30,000
0.95% (2)	April 2026	60,000		60,000
Unamortized discount – net		(5,930)		(6,006)
Deferred financing costs		(16,939)		(17,384)
Total AES Indiana first mortgage bonds		1,780,931		1,780,410
Total Long-term Debt – AES Indiana		1,780,931		1,780,410
Long-term Debt – IPALCO:
3.70% Senior Secured Notes	September 2024	405,000		405,000
4.25% Senior Secured Notes	May 2030	475,000		475,000
Unamortized discount – net		(576)		(625)
Deferred financing costs		(7,959)		(8,600)
Total Long-term Debt – IPALCO		871,465		870,775
Total Consolidated IPALCO Long-term Debt		2,652,396		2,651,185
Less: Current Portion of Long-term Debt		—		94,907
Net Consolidated IPALCO Long-term Debt		$	2,652,396	$	2,556,278

(1)First mortgage bonds issued to the Indiana Finance Authority, to secure the loan of proceeds from tax-exempt bonds issued by the Indiana Finance Authority.

(2)First mortgage bonds issued to the Indiana Finance Authority, to secure the loan of proceeds from tax-exempt bonds issued by the Indiana Finance Authority. The notes have a final maturity date of December 31, 2038, but are subject to a mandatory put in April 2026.

AES Indiana First Mortgage Bonds

In July 2021, the Indiana Finance Authority issued on behalf of AES Indiana an aggregate principal amount of $95 million of Environmental Facilities Refunding Revenue Bonds, Series 2021A&B. AES Indiana issued $95 million aggregate principal amount of first mortgage bonds to the Indiana Finance Authority in two series: $55 million Series 2021A bonds at 1.40% due August 1, 2029 and $40 million Series 2021B notes at 0.65% due August 1, 2025 to secure the loan of proceeds from these bonds issued by the Indiana Finance Authority. Proceeds of the bonds were used to refund $95 million of Indiana Finance Authority Environmental Facilities Refunding Revenue Bonds Series 2011A&B due August 1, 2021 at a redemption price of 100%. As a result of this refinancing, the $95 million of Indiana Finance Authority Environmental Facilities Refunding Revenue Bonds Series 2011A&B due August 1, 2021 are presented as long-term debt as of June 30, 2021.

IPALCO’s Senior Secured Notes and Term Loan

In April 2020, IPALCO completed the sale of the $475 million aggregate principal amount of 4.25% 2030 IPALCO Notes pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. We used the net

proceeds from this offering to retire the $65 million Term Loan on April 14, 2020. The remaining net proceeds, together with cash on hand, were used to redeem the 2020 IPALCO Notes on May 14, 2020, and to pay certain related fees, expenses and make-whole premiums. A loss on early extinguishment of debt of $2.4 million for the 2020 IPALCO Notes is included as a separate line item within "Other Income/(Expense), Net" in the accompanying Unaudited Condensed Consolidated Statements of Operations.

Pursuant to a registration rights agreement dated April 14, 2020, IPALCO agreed to register the 2030 IPALCO Notes under the Securities Act by filing an exchange offer registration statement or, under specified circumstances, a shelf registration statement with the SEC. IPALCO filed a registration statement on Form S-4 with respect to the 2030 IPALCO Notes with the SEC on March 22, 2021 in respect of its obligations under such registration rights agreement, and this registration statement was declared effective on April 7, 2021. The exchange offer closed on May 11, 2021.

Line of Credit

As of June 30, 2021 and December 31, 2020, AES Indiana had $100.0 million and $75.0 million in outstanding borrowings on the committed line of credit, respectively.