Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.10.0.1
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Instruments [Abstract]  
Schedule of Long-Term Debt
Huntington’s long-term debt consisted of the following:
 
At December 31,
(dollar amounts in millions)
2018
 
2017
The Parent Company:
 
 
 
Senior Notes:
 
 
 
3.19% Huntington Bancshares Incorporated medium-term notes due 2021
$
969

 
$
969

2.33% Huntington Bancshares Incorporated senior notes due 2022
946

 
953

4.00% Huntington Bancshares Incorporated senior notes due 2025
507

 
—

2.64% Huntington Bancshares Incorporated senior notes due 2018
—

 
399

Subordinated Notes:
 
 
 
7.00% Huntington Bancshares Incorporated subordinated notes due 2020
305

 
312

3.55% Huntington Bancshares Incorporated subordinated notes due 2023
239

 
245

Sky Financial Capital Trust IV 4.20% junior subordinated debentures due 2036 (1)
74

 
74

Sky Financial Capital Trust III 4.20% junior subordinated debentures due 2036 (1)
72

 
72

Huntington Capital I Trust Preferred 3.50% junior subordinated debentures due 2027 (2)
69

 
69

Huntington Capital II Trust Preferred 3.42% junior subordinated debentures due 2028 (3)
31

 
31

Camco Financial Statutory Trust I 4.13% due 2037 (4)
4

 
4

Total notes issued by the parent
3,216

 
3,128

The Bank:
 
 
 
Senior Notes:
 
 
 
3.55% Huntington National Bank senior notes due 2023
756

 
—

3.25% Huntington National Bank senior notes due 2021
750

 
—

2.47% Huntington National Bank senior notes due 2020
692

 
694

2.55% Huntington National Bank senior notes due 2022
672

 
685

2.23% Huntington National Bank senior notes due 2019
498

 
497

2.43% Huntington National Bank senior notes due 2020
493

 
498

2.97% Huntington National Bank senior notes due 2020
491

 
492

3.31% Huntington National Bank senior notes due 2020 (5)
300

 
300

2.24% Huntington National Bank senior notes due 2018
—

 
844

2.10% Huntington National Bank senior notes due 2018
—

 
748

1.75% Huntington National Bank senior notes due 2018
—

 
496

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

 
35

Subordinated Notes:
 
 
 
3.86% Huntington National Bank subordinated notes due 2026
229

 
238

5.45% Huntington National Bank subordinated notes due 2019
76

 
77

6.67% Huntington National Bank subordinated notes due 2018
—

 
129

Total notes issued by the bank
4,957

 
5,733

FHLB Advances:
 
 
 
3.12% weighted average rate, varying maturities greater than one year
6

 
7

Other:
 
 
 
Huntington Technology Finance nonrecourse debt, 4.19% effective interest rate, varying maturities
322

 
263

4.68% Huntington Preferred Capital II - Class F securities (6)
74

 
75

4.68% Huntington Preferred Capital II - Class G securities (6)
50

 
—

Total other
446

 
338

Total long-term debt
$
8,625

 
$
9,206

(1)
Variable effective rate at December 31, 2018, based on three-month LIBOR +1.40%.
(2)
Variable effective rate at December 31, 2018, based on three-month LIBOR +0.70%
(3)
Variable effective rate at December 31, 2018, based on three-month LIBOR +0.625%.
(4)
Variable effective rate at December 31, 2018, based on three-month LIBOR +1.33%.
(5)
Variable effective rate at December 31, 2018, based on three-month LIBOR + 0.51%
(6)
Variable effective rate at December 31, 2018, based on three-month LIBOR +1.88%.


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, 2018 follows:
(dollar amounts in millions)
Rate
 
Principal amount of
subordinated note/
debenture issued to trust (1)
 
Investment in
unconsolidated
subsidiary
Huntington Capital I
3.50
%
(2)
$
70

 
$
6

Huntington Capital II
3.42

(3)
32

 
3

Sky Financial Capital Trust III
4.20

(4)
72

 
2

Sky Financial Capital Trust IV
4.20

(4)
74

 
2

Camco Financial Trust
4.13

(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, 2018, based on three-month LIBOR + 0.70%.
(3)
Variable effective rate at December 31, 2018, based on three-month LIBOR + 0.625%.
(4)
Variable effective rate at December 31, 2018, based on three-month LIBOR + 1.40%.
(5)
Variable effective rate at December 31, 2018, 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)
2019
 
2020
 
2021
 
2022
 
2023
 
Thereafter
 
Total
The Parent Company:
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
$
—

 
$
—

 
$
1,000

 
$
1,000

 
$
—

 
$
500

 
$
2,500

Subordinated notes
—

 
300

 
—

 
—

 
250

 
253

 
803

The Bank:
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
500

 
2,000

 
750

 
700

 
750

 
—

 
4,700

Subordinated notes
76

 
—

 
—

 
—

 
—

 
250

 
326

FHLB Advances
1

 
2

 
—

 
1

 
1

 
1

 
6

Other
16

 
74

 
85

 
163

 
108

 
—

 
446

Total
$
593

 
$
2,376

 
$
1,835

 
$
1,864

 
$
1,109

 
$
1,004

 
$
8,781