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Debt And Credit Facilities | 3 Months Ended
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Mar. 31, 2013
Debt And Credit Facilities [Abstract] |
Debt And Credit Facilities | 6. DEBT AND CREDIT FACILITIES SUMMARY OF SIGNIFICANT DEBT ISSUANCES The following table summarizes the Duke Energy Registrants' significant debt issuances since December 31, 2012 (in millions).
Issuance Date | Maturity Date | Interest Rate |  | Duke Energy (Parent) |  | Duke Energy Progress |  | Duke Energy
Unsecured Debt |  |  |  |  |  |  |  |  |  |
January 2013(a) | January 2073 | 5.125 | % |  | $ | 500 |  | $ | - |  | $ | 500
Secured Debt |  |  |  |  |  |  |  |  |  |
February 2013(b) (c) | December 2030 | 2.043 | % |  |  | - |  |  | - |  |  | 203
February 2013(b) | June 2037 | 4.740 | % |  |  |  |  |  |  |  |  | 220
April 2013(d) | April 2026 | 5.456 | % |  |  | - |  |  | - |  |  | 230
First Mortgage Bonds |  |  |  |  |  |  |  |  |  |
March 2013(e) | March 2043 | 4.100 | % |  |  | - |  |  | 500 |  |  | 500
Total issuances |  |  |  | $ | 500 |  | $ | 500 |  | $ | 1,653
(a) | Callable after January 2018 at par. Proceeds from the issuance were used to redeem the $300 million 7.10% Cumulative Quarterly Income Preferred Securities (QUIPS). The securities were redeemed at par plus accrued and unpaid distributions, payable upon presentation on the redemption date. The remaining net proceeds were used to repay a portion of our commercial paper and for general corporate purposes. See Note 11 for additional information about the QUIPS.
(b) | Represents the conversion of construction loans related to a renewable energy project issued in December 2012 to term loans. No cash proceeds were received in conjunction with the conversion. The term loans have varying maturity dates. The maturity date presented represents the latest date for all components of the respective loans.
(c) | The debt is floating rate. Duke Energy has entered into a pay fixed-receive floating interest rate swap for 95 percent of the loans.
(d) | Represents primarily the conversion of a $190 million bridge loan issued in conjunction with the acquisition of Ibener in December 2012. Duke Energy received incremental proceeds of $40 million upon conversion of the bridge loan. The debt is floating rate and is denominated in U.S. dollars. Duke Energy has entered into a pay fixed-receive floating interest rate swap for 75 percent of the loan.
(e) | Proceeds from the issuance were used to repay notes payable to affiliated companies as well as for general corporate purposes.
CURRENT MATURITIES OF LONG-TERM DEBT The following table sho ws the significant components of C urrent maturities of long-term debt on the Duke Energy Registrants' respective Condensed Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with proceeds from additional borrowings, unless otherwise noted.
(in millions) | Maturity Date | Interest Rate | March 31, 2013
Unsecured Debt |  |  |  |  |
Duke Energy (Parent) | June 2013 | 5.650 | % | $ | 250
Duke Energy Indiana | September 2013 | 5.000 | % |  | 400
Duke Energy (Parent) | February 2014 | 6.300 | % |  | 750
Progress Energy (Parent) | March 2014 | 6.050 | % |  | 300
Secured Debt |  |  |  |  |
Duke Energy(a) | June 2013 | 1.009 | % |  | 190
First Mortgage Bonds |  |  |  |  |
Duke Energy Ohio | June 2013 | 2.100 | % |  | 250
Duke Energy Progress | September 2013 | 5.125 | % |  | 400
Duke Energy Carolinas | November 2013 | 5.750 | % |  | 400
Other |  |  |  |  | 383
Current maturities of long-term debt |  |  |  | $ | 3,323
(a) | Notes were fully offset with cash collateral, which was presented within Current Assets on the Condensed Consolidated Balance Sheets as of March 31, 2013 and December 31, 2012. All collateral was returned when the six-month bridge loan was replaced with a $230 million non-recourse secured credit facility issued in April 2013. See Note 2 for additional information.
AVAILABLE CREDIT FACILITIES Duke Energy has a $6 billion, five-year master credit facility, expiring in November 2016. In 2012, the Duke Energy Registrants reached an agreement with banks representing $5.63 billion of commitments under the master credit facility to extend the expiration date by one year to November 2017. Through November 2016, the available credit under this facility remains at $6 billion. The Duke Energy Registrants each have borrowing capacity under the master credit facility up to specified sublimits for each borrower. However, Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. See the table below for the borrowing sublimits for each of the borrowers as of March 31, 2013. The amount available under the master credit facility has been reduced, as indicated in the table below, by the use of the master credit facility to backstop the issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder. As indicated, borrowing sublimits for the Subsidiary Registrants are also reduced for certain amounts outstanding under the money pool arrangement.
| March 31, 2013
(in millions) | Duke Energy (Parent) |  | Duke Energy Carolinas |  | Duke Energy Progress |  | Duke Energy Florida |  | Duke Energy Ohio |  | Duke Energy Indiana |  |  | Total Duke Energy
Facility size(a) | $ | 1,750 |  | $ | 1,250 |  | $ | 750 |  | $ | 750 |  | $ | 750 |  | $ | 750 |  | $ | 6,000
Reduction to backstop issuances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Notes payable and commercial paper(b) |  | (486) |  |  | (300) |  |  | (26) |  |  | (162) |  |  | (163) |  |  | (169) |  |  | (1,306)
| Outstanding letters of credit |  | (50) |  |  | (7) |  |  | (2) |  |  | (1) |  |  | ― |  |  | ― |  |  | (60)
| Tax-exempt bonds |  | ― |  |  | (75) |  |  | ― |  |  | ― |  |  | (84) |  |  | (81) |  |  | (240)
Available capacity | $ | 1,214 |  | $ | 868 |  | $ | 722 |  | $ | 587 |  | $ | 503 |  | $ | 500 |  | $ | 4,394
(a) | Represents the sublimit of each borrower at March 31, 2013. The Duke Energy Ohio sublimit includes $100 million for Duke Energy Kentucky.
(b) | Duke Energy issued $450 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas and Duke Energy Indiana. The balances are classified as long-term borrowings within Long-term Debt in Duke Energy Carolina’s and Duke Energy Indiana’s Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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