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:



	2014			2013
	(In millions)
Mortgage bonds, notes and other
DTE Energy Debt, Unsecured
4.6% due 2016 to 2033	$	1,647		$	1,297
DTE Electric Taxable Debt, Principally Secured
4.5% due 2016 to 2044	4,824			4,286
DTE Electric Tax-Exempt Revenue Bonds (b)
5.2% due 2020 to 2030	330			558
DTE Gas Taxable Debt, Principally Secured
5.2% due 2015 to 2044	1,099			1,029
Other Long-Term Debt, Including Non-Recourse Debt	121			142
	8,021			7,312
Less amount due within one year	(161		)	(694		)
	$	7,860		$	6,618
Securitization bonds
6.6% due 2015	$	105		$	302
Less amount due within one year	(105		)	(197		)
	$	—		$	105
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, 2014 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 2014, the following debt was issued:



Company	Month Issued	Type	Interest Rate		Maturity	Amount
						(In millions)
DTE Energy	May	Senior Notes (a)	3.50	%	2024	$	350
DTE Electric	June	Mortgage Bonds (a)	3.77	%	2026	100
DTE Electric	June	Mortgage Bonds (a)	4.60	%	2044	150
DTE Electric	July	Mortgage Bonds (a)	3.375	%	2025	350
DTE Electric	July	Mortgage Bonds (a)	4.30	%	2044	350
DTE Energy	November	Senior Notes (a)	2.40	%	2019	300
DTE Gas	December	Mortgage Bonds (a)	4.35	%	2044	150
						$	1,750

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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 2014, the following debt was redeemed:



Company	Month	Type	Interest Rate		Maturity	Amount
						(In millions)
DTE Electric	March	Mortgage Bonds	Various		2014	$	13
DTE Electric	March	Securitization Bonds	6.62	%	2014	100
DTE Electric	April	Tax Exempt Revenue Bonds (a)	2.35	%	2024	31
DTE Electric	April	Tax Exempt Revenue Bonds (a)	4.65	%	2028	32
DTE Gas	May	Mortgage Bonds	8.25	%	2014	80
DTE Energy	May	Senior Notes	7.625	%	2014	300
DTE Electric	June	Tax Exempt Revenue Bonds (a)	4.875	%	2029	36
DTE Electric	June	Tax Exempt Revenue Bonds (a)	6.00	%	2036	69
DTE Electric	July	Senior Notes	4.80	%	2015	200
DTE Electric	August	Senior Notes	5.40	%	2014	200
DTE Electric	August	Tax Exempt Revenue Bonds (a)	5.25	%	2029	60
DTE Electric	September	Securitization Bonds	6.62	%	2014	96
DTE Energy	Various	Other Long Term Debt	Various		2014	20
						$	1,237

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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:



	2015		2016		2017		2018		2019		2020 and Thereafter		Total
	(In millions)
Amount to mature	$	266	$	465	$	9	$	407	$	427	$	7,046	$	8,620

Junior Subordinated Debentures

At December 31, 2014, DTE Energy had $280 million of 6.5% Junior Subordinated Debentures due 2061 and $200 million of 5.25% Junior Subordinated Debentures due 2062. DTE Energy has the right to defer interest payments on the debt securities. Should DTE Energy 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. As of December 31, 2014, no interest payments have been deferred on the debt securities.

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.