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Short-Term and Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2014
Short-Term and Long-Term Debt [Abstract]  
First Mortgage Bonds Issuance [Table Text Block]
On June 27, 2014, we agreed to sell $160.0 million of the Company's first mortgage bonds (September Bonds) to certain institutional buyers in the private placement market. The September Bonds will be sold in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, to institutional accredited investors. The September Bonds will be issued on or about September 16, 2014, in three series as follows:
Maturity Date
Principal Amount
Interest Rate
September 15, 2021
$60 Million
3.02%
September 15, 2029
$50 Million
3.74%
September 15, 2044
$50 Million
4.39%
During the first six months of 2014, we issued $215.0 million of ALLETE first mortgage bonds (Bonds) in the private placement market in four series as shown below:

Issue Date
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%