Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.8.0.1
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Instruments [Abstract]  
Schedule of Long-Term Debt
Huntington’s long-term debt consisted of the following:
 
At December 31,
(dollar amounts in millions)
2017
 
2016
The Parent Company:
 
 
 
Senior Notes:
 
 
 
3.19% Huntington Bancshares Incorporated medium-term notes due 2021
$
969

 
$
973

2.33% Huntington Bancshares Incorporated senior note due 2022
953

 
954

2.64% Huntington Bancshares Incorporated senior note due 2018
399

 
399

Subordinated Notes:
 
 
 
7.00% Huntington Bancshares Incorporated subordinated notes due 2020
312

 
320

3.55% Huntington Bancshares Incorporated subordinated notes due 2023
245

 
248

Sky Financial Capital Trust IV 3.09% junior subordinated debentures due 2036 (1)
74

 
74

Sky Financial Capital Trust III 3.09% junior subordinated debentures due 2036 (1)
72

 
72

Huntington Capital I Trust Preferred 2.39% junior subordinated debentures due 2027 (2)
69

 
69

Huntington Capital II Trust Preferred 2.32% junior subordinated debentures due 2028 (3)
31

 
32

Camco Financial Statutory Trust I 3.02% due 2037 (4)
4

 
4

Total notes issued by the parent
3,128

 
3,145

The Bank:
 
 
 
Senior Notes:
 
 
 
2.24% Huntington National Bank senior notes due 2018
844

 
844

2.10% Huntington National Bank senior notes due 2018
748

 
747

2.47% Huntington National Bank senior notes due 2020
694

 
—

2.55% Huntington National Bank senior notes due 2022
685

 
—

2.43% Huntington National Bank senior notes due 2020
498

 
498

2.23% Huntington National Bank senior note due 2019
497

 
500

1.75% Huntington National Bank senior notes due 2018
496

 
500

2.97% Huntington National Bank senior notes due 2020
492

 
495

2.20% Huntington National Bank senior notes due 2020 (5)
300

 
—

5.04% Huntington National Bank medium-term notes due 2018
35

 
36

2.23% Huntington National Bank senior note due 2017
—

 
499

1.42% Huntington National Bank senior notes due 2017 (6)
—

 
250

Subordinated Notes:
 
 
 
3.86% Huntington National Bank subordinated notes due 2026
238

 
239

6.67% Huntington National Bank subordinated notes due 2018
129

 
132

5.45% Huntington National Bank subordinated notes due 2019
77

 
81

Total notes issued by the bank
5,733

 
4,821

FHLB Advances:
 
 
 
3.51% weighted average rate, varying maturities greater than one year
7

 
8

Other:
 
 
 
Huntington Technology Finance nonrecourse debt, 3.63% effective interest rate, varying maturities
263

 
278

3.57% Huntington Preferred Capital II - Class F securities (7)
75

 
—

Huntington Technology Finance ABS Trust 2014 1.70% due 2020
—

 
57

Total other
338

 
335

Total long-term debt
$
9,206

 
$
8,309

(1)
Variable effective rate at December 31, 2017, based on three-month LIBOR +1.400%.
(2)
Variable effective rate at December 31, 2017, based on three-month LIBOR +0.70%
(3)
Variable effective rate at December 31, 2017, based on three-month LIBOR +0.625%.
(4)
Variable effective rate at December 31, 2017, based on three-month LIBOR +1.33%.
(5)
Variable effective rate at December 31, 2017, based on three-month LIBOR + 0.51%
(6)
Variable effective rate at December 31, 2017, based on three-month LIBOR +0.425%.
(7)
Variable effective rate at December 31, 2017, based on three-month LIBOR + 1.880%.
The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Consolidated Financial Statements.
A list of trust-preferred securities outstanding at December 31, 2017 follows:
(dollar amounts in millions)
Rate
 
Principal amount of
subordinated note/
debenture issued to trust (1)
 
Investment in
unconsolidated
subsidiary
Huntington Capital I
2.39
%
(2)
$
70

 
$
6

Huntington Capital II
2.32

(3)
32

 
3

Sky Financial Capital Trust III
3.09

(4)
72

 
2

Sky Financial Capital Trust IV
3.09

(4)
74

 
2

Camco Financial Trust
3.02

(5)
4

 
1

Total
 
 
$
252

 
$
14

(1)
Represents the principal amount of debentures issued to each trust, including unamortized original issue discount.
(2)
Variable effective rate at December 31, 2017, based on three-month LIBOR + 0.70%.
(3)
Variable effective rate at December 31, 2017, based on three-month LIBOR + 0.625%.
(4)
Variable effective rate at December 31, 2017, based on three-month LIBOR + 1.40%.
(5)
Variable effective rate at December 31, 2017, based on three month LIBOR + 1.33%.
Schedule of Maturities of Long-term Debt
Long-term debt maturities for the next five years and thereafter are as follows:
(dollar amounts in millions)
2018
 
2019
 
2020
 
2021
 
2022
 
Thereafter
 
Total
The Parent Company:
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
$
400

 
$
—

 
$
—

 
$
1,000

 
$
1,000

 
$
—

 
$
2,400

Subordinated notes
—

 
—

 
300

 
—

 
—

 
504

 
804

The Bank:
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
2,135

 
500

 
2,000

 
—

 
700

 
—

 
5,335

Subordinated notes
125

 
76

 
—

 
—

 
—

 
325

 
526

FHLB Advances
1

 
—

 
2

 
—

 
—

 
4

 
7

Other
27

 
43

 
95

 
48

 
50

 
—

 
263

Total
$
2,688

 
$
619

 
$
2,397

 
$
1,048

 
$
1,750

 
$
833

 
$
9,335