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Short-Term and Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2013
Short-Term and Long-Term Debt [Abstract]  
Long-term Debt [Table Text Block]

On April 2, 2013, we issued $150.0 million of the Company’s First Mortgage Bonds (Bonds) in the private placement market in three series as follows:
Maturity Date
Principal Amount
Interest Rate
April 15, 2018
$50 Million
1.83%
October 15, 2028
$40 Million
3.30%
October 15, 2043
$60 Million
4.21%
Long-Term Debt
 
 
As of December 31
2013

2012

Millions
 
 
First Mortgage Bonds
 
 
4.86% Series Due 2013
—


$60.0

6.94% Series Due 2014
$18.0
18.0

1.83% Series Due 2018
50.0

—

7.70% Series Due 2016
20.0

20.0

8.17% Series Due 2019
42.0

42.0

5.28% Series Due 2020
35.0

35.0

4.85% Series Due 2021
15.0

15.0

4.95% Pollution Control Series F Due 2022
111.0

111.0

6.02% Series Due 2023
75.0

75.0

4.90% Series Due 2025
30.0

30.0

5.10% Series Due 2025
30.0

30.0

3.20% Series Due 2026
75.0

75.0

5.99% Series Due 2027
60.0

60.0

3.30% Series Due 2028
40.0

—

5.69% Series Due 2036
50.0

50.0

6.00% Series Due 2040
35.0

35.0

5.82% Series Due 2040
45.0

45.0

4.08% Series Due 2042
85.0

85.0

4.21% Series Due 2043
60.0

—

SWL&P First Mortgage Bonds 7.25% Series Due 2013
—

10.0

SWL&P First Mortgage Bonds 4.15% Series Due 2028
15.0

—

Senior Unsecured Notes 5.99% Due 2017
50.0

50.0

Variable Demand Revenue Refunding Bonds Series 1997 A, B, and C Due 2013 – 2020
24.6

27.5

Industrial Development Variable Rate Demand Refunding Revenue Bonds Series 2006 Due 2025
27.8

27.8

Unsecured Term Loan Variable Rate Due 2015
75.0

75.0

Other Long-Term Debt, 0.15% – 7.50% Due 2014 – 2037
41.8

41.8

Total Long-Term Debt
1,110.2

1,018.1

Less: Due Within One Year
27.2

84.5

Net Long-Term Debt

$1,083.0


$933.6

On December 10, 2013, we agreed to sell $215.0 million in 2014 of ALLETE First Mortgage Bonds (Bonds) in the private placement market in four series as follows:

Issue Date (on or about)
Maturity Date
Principal Amount
Interest Rate
March 4, 2014
March 15, 2024
$60 Million
3.69%
March 4, 2014
March 15, 2044
$40 Million
4.95%
June 26, 2014
July 15, 2022
$75 Million
3.40%
June 26, 2014
July 15, 2044
$40 Million
5.05%