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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2019
24. Long-term Debt  
Long-term debt & long-term revolving credit facilities, outstanding borrowings and available capacity
Weighted average interest rate (1)
millions of Canadian dollars20192018Maturity20192018
Emera
Bankers acceptances, LIBOR loans VariableVariable2024$ 437$ 339
Unsecured fixed rate notes2.90%3.50%2023 500 725
Fixed to floating subordinated notes (USD) 6.75%6.75%2076 1,559 1,637
$ 2,496$ 2,701
Emera Finance
Unsecured senior notes (USD) 3.86%3.60%2021 - 2046$ 3,572$ 4,434
TECO Finance (2)
Fixed rate notes and bonds (USD)5.15%5.15%2020 390 409
Tampa Electric (3)
Fixed rate notes and bonds (USD)4.53%4.64%2021 - 2050$ 3,334$ 3,126
PGS
Fixed rate notes and bonds (USD)4.58%4.66%2021 - 2050$ 437$ 425
NMGC
Fixed rate notes and bonds (USD)4.30%4.53%2021 - 2049$ 474$ 368
NMGI
Fixed rate notes and bonds (USD)3.64%3.41%2024$ 195$ 273
NSPI
Discount notesVariableVariable2024$ 308$ 516
Medium term fixed rate notes5.37%5.73%2025 - 2097 2,365 1,965
Fixed rate debenture - 9.75% - - 95
$ 2,673$ 2,576
Emera Maine
LIBOR loans and demand loans VariableVariable2023$ 11$ 28
Secured fixed rate mortgage bonds (USD)9.74%9.74%2020 - 2022 65 68
Unsecured senior fixed rate notes (USD)4.15%4.23%2022 - 2049 442 382
$ 518$ 478
EBP
Senior secured credit facilityVariable3.08%2023$ 248$ 248
ECI
Secured senior notes (USD) VariableVariable2021$ 130$ 159
Amortizing fixed rate notes (USD)3.89%3.83%2021 - 2022$ 122$ 114
Secured fixed rate senior notes (4)4.84%5.51%2020 - 2035$ 218$ 191
$ 470$ 464
Adjustments
Fair market value adjustment - TECO Energy acquisition (5)$ 8$ 22
Debt issuance costs (119) (113)
Classification as liabilities held for sale (6) (516) -
Amount due within one year (7) (501) (1,119)
$ (1,128)$ (1,210)
Long-Term Debt$ 13,679$ 14,292
(1) Weighted average interest rate of fixed rate long-term debt.
(2) TECO Energy is a full and unconditional guarantor of TECO Finance’s securities, and no subsidiaries of TECO Energy guarantee TECO Finance’s securities.
(3) A substantial part of Tampa Electric’s tangible assets are pledged as collateral to secure its first mortgage bonds. There are currently no bonds outstanding under Tampa Electric’s first mortgage bond indenture.
(4) Notes are issued and payable in either USD, BBD or East Caribbean Dollar (XCD).
(5) On acquisition of TECO Energy, Emera recorded a fair market value adjustment on the unregulated long-term debt acquired. The fair market value adjustment is amortized over the remaining term of the debt.
(6) Emera Maine’s assets and liabilities are classified as held for sale. Refer to note 4 for further details.
(7) Excludes Emera Maine amounts which are classified as current liabilities associated with assets held for sale.

The Company’s total long-term revolving credit facilities, outstanding borrowings and available capacity as at December 31 were as follows:
millions of Canadian dollarsMaturity20192018
Emera – revolving credit facility (1)June 2024$ 900$ 900
NSPI - revolving credit facility (1)October 2024 600 600
Emera Maine – revolving credit facilityFebruary 2023 104 109
BLPC – revolving credit facility2020-2032 25 26
Total 1,629 1,635
Less:
Borrowings under credit facilities 771 899
Letters of credit issued inside credit facilities 65 77
Use of available facilities 836 976
Available capacity under existing agreements$ 793$ 659
(1) Advances on the revolving credit facility can be made by way of overdraft on accounts up to $50 million.

As at
Financial CovenantRequirementDecember 31, 2019
Emera
Syndicated credit facilitiesDebt to capital ratioLess than or equal to 0.70 to 10.59 : 1
Long-Term Debt Maturities
millions of Canadian dollars20202021202220232024ThereafterTotal
Emera$ - $ - $ - $ 500$ 437$ 1,559$ 2,496
Emera US Finance LP - 974 - - - 2,598 3,572
TECO Finance 390 - - - - - 390
Tampa Electric - 301 292 - - 2,741 3,334
PGS - 61 32 - - 344 437
NMGC - - - - 195 - 195
NMGI - 260 - - - 214 474
NSPI - - - - 308 2,365 2,673
Emera Maine (1) 49 - 107 11 - 351 518
EBP - - - 248 - - 248
ECI 111 69 81 72 47 90 470
Total$ 550$ 1,665$ 512$ 831$ 987$ 10,262$ 14,807
(1) Classified as held for sale.