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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2020
25. Long-term Debt  
Long-term debt & long-term revolving credit facilities, outstanding borrowings and available capacity
Weighted average interest rate (1)
millions of Canadian dollars20202019Maturity20202019
Emera
Bankers acceptances, LIBOR loans VariableVariable2024$ 263$ 437
Unsecured fixed rate notes2.90%2.90%2023 500 500
Fixed to floating subordinated notes (USD) 6.75%6.75%2076 1,528 1,559
$ 2,291$ 2,496
Emera Finance
Unsecured senior notes (USD) 3.86%3.86%2021 - 2046$ 3,501$ 3,572
TECO Finance
Fixed rate notes and bonds (USD)-5.15%-$ - 390
Tampa Electric (2)
Fixed rate notes and bonds (USD)4.53%4.53%2021 - 2050$ 3,268$ 3,334
PGS
Fixed rate notes and bonds (USD)4.58%4.58%2021 - 2050$ 429$ 437
NMGC
Fixed rate notes and bonds (USD)4.30%4.30%2021 - 2049$ 465$ 474
NMGI
Fixed rate notes and bonds (USD)3.64%3.64%2024$ 191$ 195
NSPI
Discount notesVariableVariable2024$ 291$ 308
Medium term fixed rate notes5.14%5.37%2025 - 2097 2,665 2,365
$ 2,956$ 2,673
Emera Maine
LIBOR loans and demand loans Variable$ - $ 11
Secured fixed rate mortgage bonds (USD)-9.74%- - 65
Unsecured senior fixed rate notes (USD)-4.15%- - 442
$ - $ 518
EBP
Senior secured credit facilityVariableVariable2023$ 249$ 248
ECI
Secured senior notes (USD) VariableVariable2021 - 2031$ 106$ 130
Amortizing fixed rate notes (USD)3.92%3.89%2021 - 2022 100$ 122
Non-revolving term facility, floating rateVariable-2025 28$ -
Non-revolving term facility, fixed rate2.60%-2025 68$ -
Secured fixed rate senior notes (3)4.39%4.84%2022 - 2035 174$ 218
$ 476$ 470
Adjustments
Fair market value adjustment - TECO Energy acquisition (4)$ 5$ 8
Debt issuance costs (110) (119)
Classification as liabilities held for sale (5) - (516)
Amount due within one year (1,382) (501)
$ (1,487)$ (1,128)
Long-Term Debt$ 12,339$ 13,679
(1) Weighted average interest rate of fixed rate long-term debt.
(2) 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.
(3) Notes are issued and payable in either USD, BBD or East Caribbean Dollar (XCD).
(4) 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.
(5) On March 24,2020 Emera sold Emera Maine. Refer to note 4 for further detail. As at December 31, 2019, Emera Maine’s assets and liabilities are classified as 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 dollarsMaturity20202019
Emera – revolving credit facility (1)June 2024$ 900$ 900
NSPI - revolving credit facility (1)October 2024 600 600
ECI – revolving credit facilities2021-2023 28 25
Emera Maine – revolving credit facility- 104
Total 1,528 1,629
Less:
Borrowings under credit facilities 569 771
Letters of credit issued inside credit facilities 31 65
Use of available facilities 600 836
Available capacity under existing agreements$ 928$ 793
(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, 2020
Emera
Syndicated credit facilitiesDebt to capital ratioLess than or equal to 0.70 to 10.56 : 1
Long-Term Debt Maturities
millions of Canadian dollars20212022202320242025ThereafterTotal
Emera$ - $ - $ 500$ 263$ - $ 1,528$ 2,291
Emera US Finance LP 955 - - - - 2,546 3,501
Tampa Electric 295 286 - - - 2,687 3,268
PGS 59 33 - - - 337 429
NMGC - - - - - 465 465
NMGI - - - 191 - - 191
NSPI - - - 291 125 2,540 2,956
EBP - - 249 - - - 249
ECI 73 88 60 75 101 79 476
Total$ 1,382$ 407$ 809$ 820$ 226$ 10,182$ 13,826