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Long-Term Debt | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Long-Term Debt | LONG-TERM DEBT Debt Issuances In 2023, the following debt was issued:
Company |  | Month |  | Type |  | Interest Rate |  | Maturity Date |  | Amount
|  |  |  |  |  |  |  |  |  | (In millions)
DTE Electric |  | March |  | Mortgage bonds(a) |  | 5.20% |  | 2033 |  | $ | 600 |
DTE Electric |  | March |  | Mortgage bonds(a) |  | 5.40% |  | 2053 |  | 600 |
DTE Energy |  | March |  | Term loan facility draw(b) |  | Variable |  | 2023 |  | 200 |
DTE Energy |  | May |  | Senior notes(c) |  | 4.875% |  | 2028 |  | 800 |
DTE Electric |  | June |  | Tax-exempt revenue bonds(d) |  | 3.875% |  | 2053 |  | 100 |
|  |  |  |  |  |  |  |  |  | $ | 2,300 |
_______________________________________ (a)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes. (b)Proceeds used for general corporate purposes. (c)Proceeds used for the repayment of amounts outstanding under the term loan facility. (d)Tax-exempt revenue bonds are issued by a public body that loans the proceeds to DTE Electric with terms substantially mirroring the revenue bonds. Proceeds were used to finance costs relating to solid waste disposal facilities at the Monroe and St. Clair power plants. The bonds will be subject to mandatory tender in June 2030. In June 2022, DTE Energy entered into a $1.125 billion unsecured term loan with a maturity date of December 2023. Any borrowings on the loan were determined to be long-term debt, as the term of the facility exceeded one year. Through the first quarter 2023, DTE Energy had drawn $1.0 billion on the term loan, bearing interest at SOFR plus 0.90% per annum. These borrowings were repaid in May and June 2023, as noted in the debt redemptions table below. Unused term loan capacity of $125 million terminated in June 2023 per the terms of the credit agreement. Debt Redemptions In 2023, the following debt was redeemed:
Company |  | Month |  | Type |  | Interest Rate |  | Maturity Date |  | Amount
|  |  |  |  |  |  |  |  |  | (In millions)
DTE Gas |  | April |  | Senior notes |  | 6.44% |  | 2023 |  | $ | 25 |
DTE Energy |  | May |  | Term loan facility |  | Variable |  | 2023 |  | 800 |
DTE Electric |  | June |  | Securitization bonds |  | 2.64% |  | 2023 |  | 19 |
DTE Energy |  | June |  | Term loan facility |  | Variable |  | 2023 |  | 200 |
|  |  |  |  |  |  |  |  |  | $ | 1,044 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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