Exelon 2003 Annual Report Download - page 105

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Notes to Consolidated Financial Statements
EXELON CORPORATION AND SUBSIDIARY COMPANIES
(g) Long-term debt to financing trusts maturities in the period 2004 through 2008 and thereafter are as follows:
2004 $ 470
2005 774
2006 855
2007 985
2008 965
Thereafter 2,021
Total $6,070
During 2003, the following long-term debt was issued:
Company Type Rate Maturity Amount
ComEd First Mortgage Bonds 4.70% April 15, 2015 $ 395
ComEd First Mortgage Bonds 3.70% February 1, 2008 350
ComEd First Mortgage Bonds 5.875% February 1, 2033 350
ComEd First Mortgage Bonds 4.74% August 15, 2010 250
ComEd Pollution Control Revenue Bonds(a) Variable November 1, 2019 42
ComEd Pollution Control Revenue Bonds(a) Variable May 15, 2017 40
ComEd Pollution Control Revenue Bonds(a) Variable March 1, 2020 50
ComEd Pollution Control Revenue Bonds(a)(b) Variable January 15, 2014 20
PECO First Mortgage Bonds 3.50% May 1, 2008 450
PECO Long-term debt to financing trust–PECO Energy Capital Trust IV 5.75% June 15, 2033 103
Generation Pollution Control Revenue Bonds Variable June 1, 2027 17
Generation Senior Notes 5.35% January 15, 2014 500
Total issuances $2,567
(a) These pollution control bonds are collateralized by first mortgage bonds issued under ComEd’s mortgage indenture.
(b) As of December 31, 2003, the proceeds from the issuance of these pollution control revenue bonds were held in escrow for the redemption of pollution control revenue bonds in
January 2004. The proceeds are included in restricted cash in Exelon’s Consolidated Balance Sheets.
During 2003, the following long-term debt was retired or redeemed:
Company Type Rate Maturity Amount
ComEd First Mortgage Bonds 8.375% February 15, 2023 $ 236
ComEd First Mortgage Bonds 8.00% April 15, 2023 160
ComEd First Mortgage Bonds 7.75% July 15, 2023 150
ComEd First Mortgage Bonds 6.625% July 15, 2003 100
ComEd Pollution Control Revenue Bonds 5.875% May 15, 2007 42
ComEd Pollution Control Revenue Bonds Variable October 15, 2014 42
ComEd Pollution Control Revenue Bonds Variable March 1, 2009 50
ComEd Medium Term Notes Variable September 30, 2003 250
PECO First Mortgage Bonds 6.625% March 1, 2003 250
PECO First Mortgage Bonds 6.50% May 1, 2003 200
PECO Pollution Control Revenue Bonds Variable June 1, 2027 17
Total retirements and redemptions $1,497
During 2003, Exelon retired $267 million of commercial pa-
per classified as long-term debt.
During 2003, ComEd made payments of $340 million on
the ComEd Transitional Funding Trust Notes, and PECO
made payments of $239 million related to its obligation to
the PETT. ComEd prepayment premiums of $21 million and
$24 million and net unamortized premiums, discounts and
debt issuance expenses of $38 million and $3 million asso-
ciated with the early retirement of debt in 2003 and 2002,
respectively, have been deferred in regulatory assets and will
be amortized to interest expense over the life of the related
new debt issuance consistent with regulatory recovery.
See Note 15—Fair Value of Financial Assets and Liabilities
for additional information regarding interest-rate swaps of
ComEd, PECO and Generation.
See Note 16—Preferred Securities for additional in-
formation regarding mandatorily redeemable preferred
securities and preferred stock.
103