National Grid 2006 Annual Report Download - page 63

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
NOTE H – LONG-TERM DEBT
Long-term debt consists of the following:
(1) The costs to redeem the long-term debt prior to maturity were approximately $1.1 million. This amount was recorded
in the loss on reacquired debt regulatory asset account and is being amortized ratably as interest expense over the
live of the related issuance.
63
National Grid USA / Annual Report
Narragansett Electric
At March 31 (In thousands)
Series Rate % Maturity 2006 2005
First Mortgage Bonds:
U(93-3) 6.650 June 30, 2008 5,000$ 5,000$
V(95-2) 7.750 June 2, 2025 - 10,000
V(95-3) 7.500 October 10, 2025 - 7,000
W(95-1) 7.300 November 13, 2025 - 16,000
W(96-1) 7.240 January 19, 2026 - 2,000
W(97-1) 7.390 September 30, 2027 3,000 3,000
W(97-2) 7.390 October 1, 2027 7,000 7,000
Unamortized discounts (237) (263)
Total long-term debt 14,763$ 49,737$
Massachusetts Electric
At March 31 (In thousands)
Series Rate % Maturity 2006 2005
First Mortgage Bonds:
V(95-1) 6.720 June 23, 2005 -$ 10,000$
V(96-1) 6.780 November 20, 2006 20,000 20,000
T(93-7) 6.660 June 23, 2008 5,000 5,000
T(93-8) 6.660 June 30, 2008 5,000 5,000
T(93-10) 6.110 September 8, 2008 10,000 10,000
T(93-11) 6.375 November 17, 2008 10,000 10,000
V(98-3) 5.720 November 24, 2008 25,000 25,000
V(95-2)
(1)
7.630 June 27, 2025 - 10,000
V(95-3)
(1)
7.600 September 12, 2025 - 10,000
V(95-4)
(1)
7.630 September 12, 2025 - 10,000
V(97-1) 7.390 October 1, 2027 15,000 15,000
V(98-1) 6.910 January 12, 2028 20,000 20,000
V(98-2) 6.940 January 12, 2028 5,000 5,000
Pollution Control Revenue Bonds:
1993 5.875 August 1, 2008 - 40,000
2004 Variable August 1, 2008 20,000 -
2004 Variable August 1, 2014 20,000 -
Unamortized discounts (587) (689)
Total long-term debt 154,413 194,311
Long-term debt due within one year 20,000 10,000
Total long-term debt, excluding current portion 134,413$ 184,311$
Granite State Electric
At March 31 (In thousands)
Series Rate % Maturity 2006 2005
Note 7.370 November 1, 2023 5,000$ 5,000$
Note 7.940 July 1, 2025 5,000 5,000
Note 7.300 June 15, 2028 5,000 5,000
Total long-term debt 15,000$ 15,000$