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:



	2013			2012
	(In millions)
Mortgage bonds, notes, and other
DTE Energy Debt, Unsecured
6.1% due 2014 to 2033	$	1,297		$	1,298
DTE Electric Taxable Debt, Principally Secured
4.7% due 2014 to 2043	4,286			3,777
DTE Electric Tax-Exempt Revenue Bonds (b)
5.1% due 2014 to 2036	558			707
DTE Gas Taxable Debt, Principally Secured
5.6% due 2014 to 2042	1,029			919
Other Long-Term Debt, Including Non-Recourse Debt	142			153
	7,312			6,854
Less amount due within one year	(694		)	(634		)
	$	6,618		$	6,220
Securitization bonds
6.6% due 2015	$	302		$	479
Less amount due within one year	(197		)	(177		)
	$	105		$	302
Junior Subordinated Debentures
6.5% due 2061	$	280		$	280
5.25% due 2062	200			200
	$	480		$	480

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(a)	Weighted average interest rates as of December 31, 2013 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 2013, the following debt was issued:



Company	Month Issued	Type	Interest Rate		Maturity	Amount
						(In millions)
DTE Electric	March	Mortgage Bonds (a)	4.00	%	2043	$	375
DTE Electric	August	Mortgage Bonds (a)	3.65	%	2024	400
DTE Energy	November	Senior Notes (a)	3.85	%	2023	300
DTE Gas	December	Mortgage Bonds (a)	3.64	%	2023	50
DTE Gas	December	Mortgage Bonds (a)	3.74	%	2025	70
DTE Gas	December	Mortgage Bonds (a)	3.94	%	2028	50
						$	1,245

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

Debt Redemptions

In 2013, the following debt was redeemed:



Company	Month	Type	Interest Rate		Maturity	Amount
						(In millions)
DTE Electric	March	Securitization Bonds	6.42	%	2013	$	88
DTE Electric	March	Tax Exempt Revenue Bonds (a)	5.30	%	2030	51
DTE Electric	April	Other Long-Term Debt	Various		2013	13
DTE Gas	April	Senior Notes	5.26	%	2013	60
DTE Energy	June	Senior Notes	Variable		2013	300
DTE Electric	September	Securitization Bonds	6.62	%	2013	89
DTE Electric	September	Senior Notes	6.40	%	2013	250
DTE Electric	December	Tax Exempt Revenue Bonds (a)	5.50	%	2030	49
DTE Electric	December	Tax Exempt Revenue Bonds (a)	6.75	%	2038	50
DTE Energy	Various	Other Long-Term Debt	Various		2013	11
						$	961

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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:



	2014		2015		2016		2017		2018		2019 and Thereafter		Total
	(In millions)
Amount to mature	$	891	$	476	$	465	$	9	$	407	$	5,846	$	8,094

Junior Subordinated Debentures

At December 31, 2013, 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.