SunTrust 2009 Annual Report Download - page 129

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) 2009 2008
Parent Company Only
Senior
4.25% notes due 2009 $0 $299,781
5.25% notes due 20123452,555 427,718
Floating rate notes due 2012 based on one month LIBOR + .46% 4576,000 -
Floating rate notes due 2015 based on one month LIBOR + 1.25% 885,227 885,227
6.00% notes due 2017 485,000 500,000
Floating rate notes due 2019 based on three month LIBOR + .15% 50,563 50,563
6.00% notes due 202828,830 8,829
Total senior debt - Parent 2,458,175 2,172,118
Subordinated
7.75% notes due 20103305,545 303,630
6.00% notes due 2026 199,907 199,903
Total subordinated debt - Parent 505,452 503,533
Junior Subordinated
Floating rate notes due 2027 based on three month LIBOR + .67%1349,758 349,740
Floating rate notes due 2027 based on three month LIBOR + .98%134,031 34,030
Floating rate notes due 2028 based on three month LIBOR + .65%1249,751 249,743
Floating rate notes due 2032 based on three month LIBOR + 3.40%112,519 12,411
Floating rate notes due 2033 based on three month LIBOR + 3.10%12,435 2,369
Floating rate notes due 2034 based on three month LIBOR + 2.65%17,666 7,571
6.10% notes due 20361, 2 907,398 999,833
5.588% notes due 20421, 2 101,497 500,000
7.7875% notes due 20681685,000 685,000
Total junior subordinated debt—Parent 2,350,055 2,840,697
Total Parent Company (excluding intercompany of $160,000 in 2009 and $160,000 in
2008) 5,313,682 5,516,348
Subsidiaries
Senior
Floating rate notes due 2009 based on three month LIBOR + .10% -400,000
Floating rate notes due 2010 based on three month LIBOR + .65%4750,000 750,000
3.0% notes due 201142,245,475 2,243,257
Floating rate euro notes due 2011 based on three month EURIBOR + .11%21,164,169 1,395,150
Floating rate sterling notes due 2012 based on GBP LIBOR + .12%2622,583 582,880
Floating rate notes due 2012 based on three month LIBOR + .11%2859,255 1,000,000
Floating rate notes due 2014 based on one month LIBOR + 1.25% 274,837 274,837
Capital lease obligations 14,994 16,061
FHLB advances (0.00%—8.79%; advances at fair value $0 at December 31, 2009 and
$3,659,423 at December 31, 2008)22,242,759 10,739,956
Direct finance lease obligations 251,213 153,569
Other 422,757 475,409
Total senior debt—subsidiaries 8,848,042 18,031,119
Subordinated
6.375% notes due 20113887,273 862,096
5.00% notes due 20153515,104 494,886
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 20173450,144 441,188
5.20% notes due 20173320,426 312,676
7.25% notes due 20183388,196 394,184
5.40% notes due 20203266,649 259,884
Total subordinated debt—subsidiaries 3,327,792 3,264,914
Total subsidiaries 12,175,834 21,296,033
Total long-term debt $17,489,516 $26,812,381
1Notes payable to trusts formed to issue Trust Preferred Securities totaled $2.4 billion and $2.8 billion at December 31, 2009 and
2008, respectively.
2Debt was partially extinguished in 2009 and 2008 prior to the contractual repayment date. The Company recognized a net loss of
$39.4 million and $11.7 million in 2009 and 2008, respectively, as a result of the prepayment.
3Debt recorded at fair value.
4Government guaranteed debt issued under the FDIC’s Temporary Liquidity Guarantee Program.
113