7. Debt:

Long-term debt consists of first mortgage notes payable to the United States of America acting through the Federal Financing Bank and the Rural Utilities Service, first mortgage bonds payable, first mortgage notes issued in conjunction with the sale by public authorities of pollution control revenue bonds, first mortgage notes payable to CoBank and CFC and unsecured notes payable to three commercial banks. Substantially all of our owned tangible and certain of our intangible assets are pledged under our first mortgage indenture as collateral for the Federal Financing Bank notes, the first mortgage bonds, the first mortgage notes issued in conjunction with the sale of pollution control revenue bonds, and the CoBank and CFC first mortgage notes.

On November 30, 2012, we issued $250,000,000 of 4.20% First Mortgage Bonds, Series 2012 A primarily for the purpose of providing long-term financing for costs related to the construction of Vogtle Units No. 3 and No. 4 and for long-term financing for the portion of the acquisition cost of the Smith Facility that the Rural Utilities Service is not financing. The first mortgage bonds are secured under our first mortgage indenture.

In March 2013, instead of remarketing $212,760,000 of pollution control revenue bonds, that were originally issued on our behalf by the Development Authorities of Appling, Burke and Monroe Counties, and were subject to mandatory tender on March 1, 2013, we elected to refund the bonds with commercial paper.

During 2012, we received advances on Rural Utilities Service guaranteed Federal Financing Bank loans totaling $107,390,000 for environmental and general improvements at existing plants.

Maturities for long-term debt and capital lease obligations through 2017 are as follows:



		(dollars in thousands)
		2013		2014		2015		2016		2017

FFB	$	103,407	$	107,663	$	112,206	$	116,558	$	113,644
CFC		767		806		848		891		937
CoBank		551		621		698		786		885
PCBs(1)		37,352		37,352		170,902		–		–
CREBs		1,010		1,010		1,010		1,010		1,010
Term Loans		–		260,000		–		–		–

		143,087		407,452		285,664		119,245		116,476
Capital Leases		25,306		14,212		21,275		3,955		4,404

Total	$	168,393	$	421,664	$	306,939	$	123,200	$	120,880

(1): These are not regularly scheduled principal payments but instead represent i) amounts that would be due if the credit support facilities for the Series 2009 and 2010 pollution control bonds were drawn upon and became payable in accordance with their terms. To date, none of the credit support facilities backing the Series 2009 and 2010 bonds have been drawn upon for principal and we anticipate extending these facilities before their expiration.The nominal maturities of the 2009 and 2010 pollution control bonds range from 2030 through 2038.

The weighted average interest rate for long-term debt and capital leases was 4.73% at December 31, 2012 as compared to 4.85% at December 31, 2011.

We have $1,925,000,000 of committed credit arrangements comprised of five separate facilities with maturity dates that range from December 2013 to September 2016. These short-term credit facilities are for general working capital purposes, issuing letters of credit and backing up outstanding commercial paper. Under our unsecured committed lines of credit, we have the ability to issue letters of credit totaling $835,000,000 in the aggregate, of which $583,000,000 remained available at December 31, 2012. At December 31, 2012, we had 1) $253,000,000 under these lines of credit in the form of issued letters of credit supporting variable rate demand bonds and to post collateral to third parties, and 2) $569,000,000 dedicated under one of these lines of credit to support a like amount of commercial paper we issued that is outstanding.

The weighted average interest rate on short-term borrowings was 0.44% at December 31, 2012 as compared to 0.26% at December 31, 2011.