Dominion Power 2003 Annual Report Download - page 78

76.Dominion 2003
Notes to Consolidated Financial Statements, Continued
17. Long-Term Debt
2003
Weighted
Average
At December 31, Coupon(1) 2003 2002
(millions, except percentages)
Dominion Resources, Inc.:
Unsecured Senior and Medium-Term Notes:
Variable Rate, due 2003 — $ 100
2.25% to 7.625%, due 2003 to 2008 5.17% $ 1,740 2,350
5.0% to 8.125%, due 2009 to 2033(2)(3) 6.11% 3,680 2,570
Unsecured Equity-Linked Senior Notes, 5.75% to 8.05%, due 2006 to 2008 7.03% 743 743
Unsecured Convertible Senior Notes, 2.125%, due 2023(4) 220 —
Unsecured Junior Subordinated Notes Payable to Affiliated Trusts, 7.83% to 8.4%, due 2027 to 2041(5) 8.22% 825 —
Unsecured Nonrecourse Debt, Variable Rate, due 2004 1.73% 18 18
Consolidated Natural Gas Company:
Unsecured Debentures and Senior Notes:
5.375% to 7.25%, due 2003 to 2008 6.47% 1,400 1,550
5.0% to 6.875%, due 2010 to 2027(3) 6.41% 1,950 1,750
Unsecured Senior Subordinated Debt, 9.25%, due 2004 88 88
Unsecured Junior Subordinated Notes Payable to Affiliated Trust, 7.8%, due 2041(5) 206 —
Virginia Electric and Power Company:
Secured First and Refunding Mortgage Bonds:(6)
7.625% to 8.0%, due 2003 to 2007 7.83% 465 665
7.0% to 8.625%, due 2023 to 2025 8.09% 512 1,001
Unsecured Senior and Medium-Term Notes:
Variable Rate, due 2003 — 120
5.375% to 7.2%, due 2003 to 2008 5.65% 1,445 1,485
4.50% to 5.25%, due 2009 to 2038 4.80% 830 300
Unsecured Callable and Puttable Enhanced SecuritiesSM, 4.10%, due 2038(7) 225 —
Tax-Exempt Financings:(8)
Variable Rate, due 2008 1.33% 60 60
Variable Rates, due 2015 to 2027 1.34% 137 137
4.95% to 5.25%, due 2007 to 2008 5.21% 107 107
2.174% to 5.875%, due 2009 to 2031 4.78% 295 295
Unsecured Junior Subordinated Notes Payable to Affiliated Trust, 7.375%, due 2042(5) 412 —
Dominion Energy, Inc.:
Unsecured Medium-Term Notes, 5.72% to 6.1%, due 2005 to 2006(9) 5.94% 243 199
Secured Senior Note, 7.33%, due 2020 238 246
Secured Bank Debt, Variable Rates, due 2006 to 2007(5) 1.60% 951 —
Revolving Lines of Credit, Variable Rates, due 2003 to 2004 1.55% 150 163
Dominion Capital, Inc.:
Notes, 7.6% to 12.5%, due 2003 to 2008 12.5% 6 96
Note, Variable Rate, due 2003 — 22
Dominion Resources Services, Inc., Secured Bank Debt, Variable Rate, due 2006(5) 107 —
Dominion Fiber Ventures, Secured Senior Note, 7.05%, due 2005 21 —
17,074 14,065
Fair value hedge valuation 43 75
Amounts due within one year 6.10% (1,252) (2,077)
Unamortized discount and premium, net (89) (95)
15,776 11,968
Other Unsecured Notes Payable to Affiliates:
6.0%, due 2005
— 126
Variable Rate, due 2006 — 14
Amounts due within one year — (48)
92
Total long-term debt $15,776 $12,060
(1) Represents weighted-average coupon rates for debt outstanding as of December 31, 2003.
(2)$250 million of the 7.82% remarketable notes due September 15, 2014 will be either mandatorily purchased and remarketed by the remarketing agent or mandatorily
redeemed by Dominion on September 15, 2004. Dominion has access to other means of long-term liquidity in the event of a failed remarketing.
(3)At the option of holders in October 2006 and August 2015, $150 million of CNG’s 6.875% senior notes due 2026 and $510 million of Dominion’s 5.25% senior notes
due 2033, respectively, are subject to redemption at 100% of the principal amount plus accrued interest.
Footnotes to Long-term Debt table continued on next page.