LONG-TERM DEBT

Long-Term Debt

The Company’s long-term debt outstanding and weighted average interest rates (1) of debt outstanding at December 31 were:



	2011			2010
	(In millions)
Mortgage bonds, notes, and other
DTE Energy Debt, Unsecured
5.5% due 2013 to 2033	$	1,298		$	1,597
Detroit Edison Taxable Debt, Principally Secured
5.3% due 2012 to 2041	3,515			2,915
Detroit Edison Tax-Exempt Revenue Bonds (2)
5.1% due 2012 to 2038	893			1,283
MichCon Taxable Debt, Principally Secured
6.1% due 2012 to 2033	889			889
Other Long-Term Debt, Including Non-Recourse Debt	165			195
	6,760			6,879
Less amount due within one year	(355		)	(765		)
	$	6,405		$	6,114
Securitization bonds
6.5% due 2012 to 2015	$	643		$	793
Less amount due within one year	(164		)	(150		)
	$	479		$	643
Junior Subordinated Debentures
6.5% due 2061	$	280		$	—

Trust preferred-linked securities
7.8% due 2032	$	—		$	186
7.5% due 2044	—			103
	$	—		$	289

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(1)	Weighted average interest rates as of December 31, 2011 are shown below the description of each category of debt.


(2)	Detroit Edison Tax-Exempt Revenue Bonds are issued by a public body that loans the proceeds to Detroit Edison on terms substantially mirroring the Revenue Bonds.

Debt Issuances

In 2011, the Company issued or remarketed the following long-term debt:



Company	Month Issued	Type	Interest Rate		Maturity	Amount
	(In millions)
Detroit Edison	April	Tax-Exempt Revenue Bonds (1)	2.35	%	2024	$	31
Detroit Edison	May	Mortgage Bonds (2)	3.90	%	2021	250
DTE Energy	May	Senior Notes (3)	Variable (4)		2013	300
Detroit Edison	September	Mortgage Bonds (5)	4.31	%	2023	102
Detroit Edison	September	Mortgage Bonds (5)	4.46	%	2026	77
Detroit Edison	September	Mortgage Bonds (5)	5.67	%	2041	46
Detroit Edison	September	Tax-Exempt Revenue Bonds (6)	2.13	%	2030	82
Detroit Edison	September	Mortgage Bonds (7)	4.50	%	2041	140
DTE Energy	December	Junior Subordinated Debentures (8)	6.50	%	2061	280
						$	1,308

(1) These bonds were remarketed for a three-year term ending April 1, 2014. The final maturity of the issue is October 1, 2024.

(2) Proceeds were used for general corporate purposes.

(3) Proceeds were used to repay a portion of DTE Energy's $600 million 7.05% Senior Notes due June 1, 2011 and for general corporate purposes.

(4) The interest rate is reset quarterly at the three-month LIBOR plus 70 basis points.

(5) Proceeds were used to retire callable tax-exempt revenue bonds and for general corporate purposes.

(6) These bonds were remarketed for a five-year term ending September 1, 2016. The final maturity of the issue is September 1, 2030.

(7) Proceeds were used to retire approximately $140 million of callable tax-exempt revenue bonds and for general corporate purposes.

(8) Proceeds were used to redeem Trust Preferred-Linked Securities.

Debt Retirements and Redemptions

In 2011, the following debt was retired, through optional redemption or payment at maturity:



Company	Month Retired	Type	Interest Rate	Maturity	Amount
	(In millions)
Detroit Edison	May	Tax-Exempt Revenue Bonds	6.95%	2011	$	26
DTE Energy	June	Senior Notes	7.05%	2011	600
Detroit Edison	September	Tax-Exempt Revenue Bonds	5.55%	2029	118
Detroit Edison	September	Tax-Exempt Revenue Bonds	5.65%	2029	67
Detroit Edison	September	Tax-Exempt Revenue Bonds	5.65%	2029	40
Detroit Edison	September	Tax-Exempt Revenue Bonds	5.45%	2029	140
DTE Energy	December	Trust Preferred-Linked Securities	7.80%	2032	186
DTE Energy	December	Trust Preferred-Linked Securities	7.50%	2044	103
					$	1,280

The following table shows the scheduled debt maturities, excluding any unamortized discount or premium on debt:



	2012		2013		2014		2015		2016		2017 and Thereafter		Total
	(In millions)
Amount to mature	$	519	$	811	$	892	$	476	$	465	$	4,530	$	7,693

Junior Subordinated Debentures

In December 2011, DTE Energy issued $280 million of 6.50% Junior Subordinated Debentures due 2061 with proceeds used to redeem the Trust Preferred-Linked Securities.

The Company has the right to defer interest payments on the debt securities. Should the Company exercise this right, it cannot declare or pay dividends on, or redeem, purchase or acquire, any of its capital stock during the deferral period. Any deferred interest payments will bear additional interest at the rate of 6.50% per year.

Cross Default Provisions

Substantially all of the net utility properties of Detroit Edison and MichCon are subject to the lien of mortgages. Should Detroit Edison or MichCon fail to timely pay their indebtedness under these mortgages, such failure may create cross defaults in the indebtedness of DTE Energy.