SunTrust 2008 Annual Report Download - page 133

SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
Note 12 - Long-Term Debt
Long term debt at December 31 consisted of the following:
(Dollars in thousands) 2008 2007
Parent Company Only
Senior
6.25% notes due 20083$- $295,032
4.00% notes due 2008 -349,827
4.25% notes due 2009 299,781 299,535
5.25% notes due 20123427,718 503,802
Floating rate notes due 2015 based on one month LIBOR + 1.25% 885,227 -
6.00% notes due 2017 500,000 499,962
Floating rate notes due 2019 based on three month LIBOR + .15% 50,563 50,563
6.00% notes due 202828,829 221,688
Total senior debt - Parent 2,172,118 2,220,409
Subordinated
7.75% notes due 20103303,630 320,140
6.00% notes due 2026 199,903 199,900
Total subordinated debt - Parent 503,533 520,040
Junior Subordinated
Floating rate notes due 2027 based on three month LIBOR + .67%1349,740 349,740
Floating rate notes due 2027 based on three month LIBOR + .98%134,030 34,030
Floating rate notes due 2028 based on three month LIBOR + .65%1249,743 249,736
Floating rate notes due 2032 based on three month LIBOR + 3.40%112,411 -
Floating rate notes due 2033 based on three month LIBOR + 3.10%12,369 -
Floating rate notes due 2034 based on three month LIBOR + 2.65%17,571 -
6.10% notes due 20361999,833 999,831
5.588% notes due 20421500,000 500,000
7.7875% notes due 20681685,000 -
Total junior subordinated debt - Parent 2,840,697 2,133,337
Total Parent Company (excluding intercompany of $160,000 in 2008 and $189,835 in 2007) 5,516,348 4,873,786
Subsidiaries
Senior
Floating rate notes due 2008 based on three month LIBOR + .08% -500,000
Floating rate notes due 2009 based on three month LIBOR + .10% 400,000 400,000
4.55% notes due 2009 -199,946
Floating rate notes due 2010 based on three month LIBOR + .65% 4750,000 -
3.0% notes due 2011 42,243,257 -
Floating rate euro notes due 2011 based on three month EURIBOR + .11% 1,395,150 1,458,400
Floating rate sterling notes due 2012 based on GBP LIBOR + .12% 582,880 793,120
Floating rate notes due 2012 based on three month LIBOR + .11% 1,000,000 1,000,000
Floating rate notes due 2014 based on one month LIBOR + 1.25% 274,837 -
Capital lease obligations 16,061 17,124
FHLB advances (0.00% - 8.79%; advances at fair value 3,659,423 at December
31, 2008 and $3,665,928 at December 31, 2007) 10,739,956 9,687,173
Direct finance lease obligations 153,569 260,760
Other 475,409 463,674
Total senior debt - subsidiaries 18,031,119 14,780,197
Subordinated
6.375% notes due 20113862,096 1,042,133
5.00% notes due 20153494,886 526,860
Floating rate notes due 2015 based on three month LIBOR + .30% 200,000 200,000
Floating rate notes due 2015 based on three month LIBOR + .29% 300,000 300,000
5.45% notes due 20173441,188 478,428
5.20% notes due 20173312,676 332,221
7.25% notes due 20183394,184 -
6.50% notes due 20182-140,447
5.40% notes due 20203259,884 282,436
Total subordinated debt - subsidiaries 3,264,914 3,302,525
Total subsidiaries 21,296,033 18,082,722
Total long-term debt $26,812,381 $22,956,508
1Notes payable to trusts formed to issue Trust Preferred Securities totaled $2.8 billion and $2.1 billion at December 31, 2008 and 2007, respectively.
2Debt was extinguished in 2008 prior to the contractual repayment date. The Company recognized a net loss of $11.7 million as a result of the prepayment.
3Debt recorded at fair value.
4Government guaranteed debt issued under the FDIC’s Temporary Liquidity Guarantee Program.
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