Travelers 2003 Annual Report Download - page 67

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65
Notes payable to former affiliates, long-term debt, convertible notes and TIGHI junior subordinated debt securities
outstanding at December 31, were as follows:
(in millions) 2003 2002
Notes payable to former affiliates $ -
$ 700.0
Floating rate note due 2004, prepaid February 2003 - 550.0
6.75% Notes due 2006 150.0 150.0
3.75% Notes due 2008 400.0 -
7.81% Note various due dates through 2011 24.0 27.0
5.00% Notes due 2013 500.0 -
7.75% Notes due 2026 200.0 200.0
6.375% Notes due 2033 500.0 -
Convertible junior subordinated notes payable due 2032 892.5 892.5
Convertible notes payable due 2032 49.8 49.7
TIGHI junior subordinated debt securities - 900.0
2,716.3 3,469.2
Debt issuance costs 41.8 25.5
Total $ 2,674.5
$ 3,443.7
In February 2002, TPC paid a dividend of $1.000 billion to Citigroup in the form of a non-interest bearing note
payable on December 31, 2002. On December 31, 2002, this note was repaid in its entirety. Also in February 2002,
TPC paid an additional dividend of $3.700 billion to Citigroup in the form of a note payable in two installments. This
note was substantially prepaid following the offerings. The balance of $150.0 million was due on May 9, 2004. This
note was prepaid on May 8, 2002. In March 2002, TPC paid a dividend of $395.0 million to Citigroup in the form of a
note. This note was prepaid following the offerings.
In March 2002, TPC issued $892.5 million aggregate principal amount of 4.5% convertible junior subordinated notes
which will mature on April 15, 2032, unless earlier redeemed, repurchased or converted. Interest is payable quarterly
in arrears. See note 8 of notes to Travelers consolidated financial statements for a further discussion.