LONG-TERM DEBT

Long-Term Debt

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



	2012			2011
	(In millions)
Mortgage bonds, notes, and other
DTE Energy Debt, Unsecured
5.4% due 2013 to 2033	$	1,298		$	1,298
DTE Electric Taxable Debt, Principally Secured
5.0% due 2013 to 2042	3,777			3,515
DTE Electric Tax-Exempt Revenue Bonds (b)
5.3% due 2014 to 2038	707			893
DTE Gas Taxable Debt, Principally Secured
5.6% due 2013 to 2042	919			889
Other Long-Term Debt, Including Non-Recourse Debt	153			165
	6,854			6,760
Less amount due within one year	(634		)	(355		)
	$	6,220		$	6,405
Securitization bonds
6.6% due 2013 to 2015	$	479		$	643
Less amount due within one year	(177		)	(164		)
	$	302		$	479
Junior Subordinated Debentures
6.5% due 2061	$	280		$	280
5.25% due 2062	200			—
	$	480		$	280

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(a)	Weighted average interest rates as of December 31, 2012 are shown below the description of each category of debt.


(b)	DTE Electric Tax-Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds.

Debt Issuances

In 2012, the Company issued the following long-term debt:



Company	Month Issued	Type	Interest Rate		Maturity	Amount
	(In millions)
DTE Electric	June	Mortgage Bonds (a)	2.65	%	2022	$	250
DTE Electric	June	Mortgage Bonds (a)	3.95	%	2042	250
DTE Energy	October	Junior Subordinated Debentures (b)	5.25	%	2062	200
DTE Gas	December	Mortgage Bonds (c)	3.92	%	2042	70
						$	770

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(a)	Proceeds were used for the early redemption of DTE Electric long-term debt; for the repayment of short-term borrowings; and for general corporate purposes.


(b)	Proceeds were used to pay a portion of the purchase price for a portfolio of on-site energy projects; for the repayment of short-term borrowings; and for general corporate purposes.


(c)	Proceeds were used for general corporate purposes.

Debt Redemptions

In 2012, the following debt was redeemed:



Company	Month	Type	Interest Rate		Maturity	Amount
						(In millions)
DTE Electric	March/September	Securitization Bonds	6.42	%	2012	$	164
DTE Electric	April	Mortgage Bonds	7.90	%	2012	10
DTE Electric	April	Mortgage Bonds	8.36	%	2012	3
DTE Gas	May	Secured Medium Term Notes	7.06	%	2012	40
DTE Electric	July	Senior Notes	5.20	%	2012	225
DTE Electric	December	Tax Exempt Revenue Bonds (a)	3.05	%	2024	65
DTE Electric	December	Tax Exempt Revenue Bonds (a)	5.45	%	2032	64
DTE Electric	December	Tax Exempt Revenue Bonds (a)	5.25	%	2032	56
DTE Energy	Various	Other Long-Term Debt	Various		2012	12
						$	639

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(a)	DTE Electric Tax Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds.

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



	2013		2014		2015		2016		2017		2018 and Thereafter		Total
	(In millions)
Amount to mature	$	811	$	891	$	476	$	465	$	9	$	5,166	$	7,818

Junior Subordinated Debentures

At December 31, 2012, the Company had $280 million of 6.5% Junior Subordinated Debentures due 2061 and $200 million of 5.25% Junior Subordinated Debentures due 2062. 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 associated with the related debt issue.

Cross Default Provisions

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