National Grid 2005 Annual Report Download - page 58

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(1) Refinanced to auction rate mode on December 11, 2003. Effective interest rate at March 31, 2005 and March 31, 2004
was 2.70 percent and 1.18 percent, respectively.
(2) Refinanced to auction rate mode on May 27, 2004. Effective interest rate at March 31, 2005 was 2.10 percent.
(3) Refinanced to auction rate mode on May 1, 2003. Effective interest rate at March 31, 2005 and March 31, 2004 was
2.35 percent and 1.19 percent, respectively.
58
National Grid USA / Annual Report
Niagara Mohawk
At March 31 (In thousands)
Series Rate % Maturity 2005 2004
First Mortgage Bonds:
8% 8.000 June 1, 2004 -$ 232,425$
6 5/8% 6.625 July 1, 2005 110,000 110,000
9 3/4% 9.750 November 1, 2005 137,981 137,981
7 3/4% 7.750 May 15, 2006 275,000 275,000
6 5/8% (1) 6.625 October 1, 2013 45,600 45,600
5.15% 5.150 November 1, 2025 75,000 75,000
7.2% (2) 7.200 July 1, 2029 115,705 115,705
Senior Notes:
5 3/8% 5.375 October 1, 2004 - 300,000
7 5/8% 7.625 October 1, 2005 302,439 302,439
8 7/8% 8.875 May 15, 2007 200,000 200,000
7 3/4% 7.750 October 1, 2008 600,000 600,000
Promissory Notes: (3)
2015 Variable July 1, 2015 100,000 100,000
2023 Variable December 1, 2023 69,800 69,800
2025 Variable December 1, 2025 75,000 75,000
2026 Variable December 1, 2026 50,000 50,000
2027 Variable March 1, 2027 25,760 25,760
2027 Variable July 1, 2027 93,200 93,200
Notes Payable:
NM Holdings Note 3.720 July 31, 2009 350,000 350,000
NM Holdings Note 3.830 June 30, 2010 350,000 350,000
NM Holdings Note 5.800 November 1, 2012 500,000 500,000
Other - 195
Subtotal - Niagara Mohawk 3,475,485$ 4,008,105$
Hydros
At March 31 (In thousands)
Series Rate % Maturity 2005 2004
Series B 9.260 April 17, 2007 12,110$ 21,380$
Series C 9.410 October 17, 2015 46,270 46,270
Subtotal - Hydros 58,380$ 67,650$