Freddie Mac 2012 Annual Report Download - page 265

Table 8.3 — Other Long-Term Debt
December 31, 2012 December 31, 2011
Contractual
Maturity(1) Par Value
Balance,
Net(2)
Weighted Average
Effective Rate(3) Par Value
Balance,
Net(2)
Weighted Average
Effective Rate(3)
(dollars in millions)
Other long-term debt:
Other senior debt:(4)
Fixed-rate:
Medium-term notes —
callable(5) .................. 2013 – 2037 $ 94,655 94,842 1.62% $ 96,958 $ 96,938 1.78%
Medium-term notes —
non-callable ................ 2013 – 2028 42,623 42,877 1.08 41,303 41,470 1.33
U.S. dollar Reference Notes®
securities — non-callable ...... 2013 – 2032 225,857 225,885 2.82 238,145 238,244 3.17
€Reference Notes®securities —
non-callable ................ 2013 – 2014 1,167 1,187 4.58 1,722 1,766 4.76
Variable-rate:
Medium-term notes —
callable(6) .................. 2013 – 2032 6,953 6,953 2.57 21,230 21,229 2.40
Medium-term notes —
non-callable ................ 2013 – 2026 46,194 46,197 0.27 86,010 86,019 0.26
Zero-coupon:
Medium-term notes — callable .... 2037 – 2040 1,300 324 5.71 12,475 3,281 5.39
Medium-term notes —
non-callable ................ 2013 – 2039 15,240 10,923 4.03 14,475 9,753 4.67
Hedging-related basis adjustments . . . N/A 57 N/A 79
Total other senior debt ............ 433,989 429,245 512,318 498,779
Other subordinated debt: ............
Fixed-rate ..................... 2016 – 2018 221 218 6.59 221 218 6.59
Zero-coupon ................... 2019 332 166 10.51 332 150 10.51
Total other subordinated debt ....... 553 384 553 368
Total other long-term debt ............. $434,542 $429,629 2.15 $512,871 $499,147 2.27
(1) Represents contractual maturities at December 31, 2012.
(2) Represents par value of long-term debt securities and subordinated borrowings, net of associated discounts or premiums and hedge-related basis
adjustments.
(3) Represents the weighted average effective rate that remains constant over the life of the instrument, which includes the amortization of discounts or
premiums, issuance costs, and hedging-related basis adjustments.
(4) For debt denominated in a currency other than the U.S. dollar, the outstanding balance is based on the exchange rate at December 31, 2012 and 2011,
respectively.
(5) Includes callable FreddieNotes®securities of $1.2 billion and $2.9 billion at December 31, 2012 and 2011, respectively.
(6) Includes callable FreddieNotes®securities of $0 billion and $1.3 billion at December 31, 2012 and 2011, respectively.
A portion of our other long-term debt is callable. Callable debt gives us the option to redeem the debt security at par on
one or more specified call dates or at any time on or after a specified call date.
Debt Securities of Consolidated Trusts Held by Third Parties
Debt securities of consolidated trusts held by third parties represents our liability to third parties that hold beneficial
interests in our consolidated securitization trusts (i.e., single-family PC trusts and certain single-family and multifamily Other
Guarantee Transactions).
The table below summarizes the debt securities of consolidated trusts held by third parties based on underlying
mortgage product type.
260 Freddie Mac