The following long-term debt was retired through optional redemption or payment at maturity during 2013:
Company |
|
Type |
|
Interest Rate |
|
|
Maturity |
|
|
Amount |
|
|||
American Water Capital Corp. (2) |
|
Senior notes—fixed rate |
|
|
5.39%-10.00% |
|
|
|
2013-2017 |
|
|
$ |
476,638 |
|
Other subsidiaries(3) |
|
Private activity bonds and government funded debt—fixed rate |
|
|
0.00%-5.50% |
|
|
|
2013-2041 |
|
|
|
17,663 |
|
Other subsidiaries |
|
Mortgage bonds—fixed rate |
|
|
6.59% |
|
|
|
2013 |
|
|
|
2,000 |
|
Other subsidiaries |
|
Mandatorily redeemable preferred stock |
|
|
8.49%-9.18% |
|
|
|
2031-2036 |
|
|
|
1,650 |
|
Other |
|
Notes payable and other |
|
|
|
|
|
|
|
|
|
|
359 |
|
Total retirements and redemptions |
|
|
|
|
|
|
|
|
|
|
|
$ |
498,310 |
|
(2) | In September 2013, the Company announced a tender offer for its 6.085% Senior Notes due 2017 (the “Notes”). The offer was contingent upon the satisfaction of certain conditions, which were satisfied during the fourth quarter of 2013. At that time, the Company repurchased $225,800 in aggregate principal amount of Notes that were validly tendered. The Company paid $271,798 to effect the tender, which, in addition to the principal, included $6,603 of accrued interest, a repurchase premium of $39,395, write-off of unamortized debt issuance costs of $525 and transaction fees of $663. The sum of the repurchase premium, the debt issuance amortization and transaction fees equaled the loss on debt extinguishment of $40,583, which is disclosed separately on the accompanying Consolidated Statement of Operations. |
(3) | Includes $3,565 of non-cash defeasance via the use of restricted funds. |