Travelers 2005 Annual Report Download - page 186

THE ST. PAUL TRAVELERS COMPANIES, INC.AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
174
10. DEBT
Debt and convertible notes payable outstanding were as follows:
(at December 31, in millions) 2005 2004
Short-term:
Commercial paper. ........................................................... $104 $ 499
6.75% Senior notes due November15, 2006 ..................................... 150 —
Medium-term notes maturing in following year.................................. 56 99
7.875% Senior notes due April 15, 2005 ......................................... —238
7.125% Senior notes due June 1, 2005 .......................................... —79
Total short-term debt ....................................................... 310 915
Long-term:
Medium-term notes with various maturities through 2010......................... 242 298
6.75% Senior notes due November15, 2006 ..................................... —150
5.75% Senior notes due March 15,2007 ......................................... 500 500
5.01%* Senior notes due August 16,2007 ....................................... 442 —
5.25%* Senior notes due August 16,2007 ....................................... —442
3.75% Senior notes due March 15,2008 ......................................... 400 400
Zero coupon convertible notes due 2009........................................ 122 117
8.125% Senior notes due April 15, 2010 ......................................... 250 250
7.81% Private placement notes due on various dates through 2011.................. 16
20
5.00% Senior notes due March 15,2013 ......................................... 500 500
5.50% Senior notes due December 1,2015 ...................................... 400 —
7.75% Senior notes due April 15, 2026 .......................................... 200 200
7.625% Subordinated debentures due December 15, 2027 ......................... 125 125
8.47% Subordinated debentures due January 10, 2027 ............................ 81 81
4.50% Convertible junior subordinate d notes payable due April 15,2032............ 893 893
6.375% Senior notes due March 15,2033........................................ 500 500
8.50% Subordinated debentures due December 15,2045 .......................... 56 56
8.312% Subordinated debentures due July 1, 2046................................ 73 73
7.60% Subordinated debentures due October 15, 2050............................ 593 593
Total long-term debt........................................................ 5,393 5,198
Total debt principal ........................................................ 5,703 6,113
Unamortized fair valueadjustment............................................. 185 239
Unamortized debtissuance costs............................................... (38 )(39)
Total debt ................................................................. $5,850 $6,313
* These senior notes had an interest rate of 5.25% at December 31, 2004. The interest rate was reset to
5.01% in May 2005 pursuant to the remarketing of these notes as described below.
On April 1, 2004, The St. Paul Travelers Companies, Inc. fully and unconditionally guaranteed the
payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries TPC
and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $150 million 6.75%
Notes due 2006, the $400 million 3.75% Notes due 2008, the $500 million 5.00% Notes due 2013, the