Wells Fargo 2007 Annual Report Download - page 102

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99
(in millions)
December 31,
Maturity Stated 2007
2006
date(s)
interest
rate(s)
Wells Fargo Bank, N.A. and its subsidiaries (WFB, N.A.)
Subordinated
Fixed-Rate Notes (1) 2010-2036 4.75-7.55% $ 6,151 $ 6,264
Floating-Rate Notes 2016 Varies 500 500
Other notes and debentures 2008-2013 4.70-6.00% 11 13
Total subordinated debt – WFB, N.A. 6,662 6,777
Total long-term debt – WFB, N.A. 8,081 10,324
Wells Fargo Financial, Inc., and its subsidiaries (WFFI)
Senior
Fixed-Rate Notes 2008-2034 2.67-6.85% 8,103 7,654
Floating-Rate Notes 2008-2010 Varies 1,405 1,970
Total long-term debt – WFFI 9,508 9,624
Other consolidated subsidiaries
Senior
Fixed-Rate Notes 2008-2049 0.00-7.75% 951 378
Floating-Rate FHLB Advances 2009-2012 Varies 1,250 500
Other notes and debentures – Floating-Rate 2008-2048 Varies 1,752 404
Total senior debt – Other consolidated subsidiaries 3,953 1,282
Subordinated
Fixed-Rate Notes 2008 6.25% 202 209
Other notes and debentures – Floating-Rate 2011-2016 Varies 83 78
Total subordinated debt – Other consolidated subsidiaries 285 287
Junior Subordinated
Fixed-Rate Notes (6) 2029-2031 9.875-10.875% 112 56
Floating-Rate Notes (6) 2027-2036 Varies 257 176
FixFloat 2036 7.06% through
mid-2011, varies 81 —
Total junior subordinated debt – Other consolidated subsidiaries 450 232
Total long-term debt – Other consolidated subsidiaries 4,688 1,801
Total long-term debt $99,393 $87,145
The aggregate annual maturities of long-term debt
obligations (based on final maturity dates) as of December 31,
2007, follow.
(in millions) Parent Company
2008 $15,610 $18,397
2009 7,760 9,756
2010 15,194 17,465
2011 7,173 10,379
2012 8,151 11,636
Thereafter 23,228 31,760
Total $77,116 $99,393
(continued from previous page)
The interest rates on floating-rate notes are determined
periodically by formulas based on certain money market
rates, subject, on certain notes, to minimum or maximum
interest rates.
As part of our long-term and short-term borrowing
arrangements, we are subject to various financial and
operational covenants. Some of the agreements under which
debt has been issued have provisions that may limit the
merger or sale of certain subsidiary banks and the issuance
of capital stock or convertible securities by certain subsidiary
banks. At December 31, 2007, we were in compliance with
all the covenants.