Long-Term Debt

9 Months Ended

Sep. 30, 2020

LONG-TERM DEBT

Debt Issuances

In 2020, the following debt was issued:


Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	February	Mortgage Bonds^(a)	2.25%	2030	$	600
DTE Electric	February	Mortgage Bonds^(a)	2.95%	2050	500
DTE Electric	April	Mortgage Bonds^(b)	2.63%	2031	600
DTE Energy	August	Senior Notes^(c)	1.05%	2025	800
DTE Gas	August	Mortgage Bonds^(d)	2.35%	2030	125
DTE Gas	August	Mortgage Bonds^(d)	3.20%	2050	125
					$	2,750

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(a)Proceeds used for the repayment of $300 million of DTE Electric's 2010 Series A 4.89% Senior Notes due 2020, repayment of short-term borrowings, capital expenditures, and for other general corporate purposes.

(b)Proceeds used for the repayment of $300 million of DTE Electric's 2010 Series B 3.45% Senior Notes due 2020, repayment of $32 million of DTE Electric's 2008 Series KT Variable Rate Senior Notes due 2020, repayment of short-term borrowings, capital expenditures, and for other general corporate purposes.

(c)Proceeds used for the repayment of short-term borrowings and for general corporate purposes.

(d)Proceeds used for the repayment of $50 million of DTE Gas's 2008 Series I 6.36% Senior Notes due 2020 and for general corporate purposes, including capital expenditures.

In March 2020, DTE Energy entered into a $200 million unsecured term loan with a maturity date of March 2022 and terms consistent with DTE Energy’s unsecured revolving credit agreements. The purpose of the loan was to enhance liquidity and reduce reliance on the commercial paper market. The loan was subject to terminate if no amounts were drawn by August 27, 2020. No amounts were drawn, therefore the loan terminated per the agreement.

In October 2020, DTE Energy issued $230 million of 4.375% Junior Subordinated Debentures due October 15, 2080. Proceeds have been used for the redemption of DTE Energy's $200 million 2012 Series C 5.25% Junior Subordinated Debentures due December 1, 2062. Remaining proceeds will be used for general corporate purposes.

In October 2020, DTE Energy also issued $750 million of 0.55% Senior Notes due November 1, 2022. Proceeds have been used for the repayment of DTE Energy's $500 million unsecured term loan expiring March 2021 and DTE Energy's $167 million unsecured term loan expiring June 2021. Remaining proceeds will be used for general corporate purposes. Refer to Note 11 to the Consolidated Financial Statements, "Short-term Credit Arrangements and Borrowings", for additional information regarding the term loans.

Debt Redemptions

In 2020, the following debt was redeemed:


Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	March	Senior Notes	4.89%	2020	$	300
DTE Electric	July	Senior Notes	5.63%	2020	32
DTE Electric	July	Senior Notes	3.45%	2020	300
DTE Gas	September	Senior Notes	6.36%	2020	50
					$	682

As noted above, on October 22, 2020, DTE Energy also optionally redeemed its $200 million 2012 Series C 5.25% Junior Subordinated Debentures originally due December 1, 2062.