| Schedule of Long-Term Debt |
Huntington’s long-term debt consisted of the following:
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At December 31, |
(dollar amounts in thousands) |
2015 |
|
2014 |
The Parent Company: |
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Senior Notes: |
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|
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2.64% Huntington Bancshares Incorporated senior note due 2018 |
$ |
400,544 |
|
|
$ |
398,924 |
|
Subordinated Notes: |
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|
|
Fixed 7.00% subordinated notes due 2020 |
328,185 |
|
|
330,105 |
|
Huntington Capital I Trust Preferred 1.03% junior subordinated debentures due 2027 (1) |
111,816 |
|
|
111,816 |
|
Sky Financial Capital Trust IV 1.73% junior subordinated debentures due 2036 (3) |
74,320 |
|
|
74,320 |
|
Sky Financial Capital Trust III 2.01% junior subordinated debentures due 2036 (3) |
72,165 |
|
|
72,165 |
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Huntington Capital II Trust Preferred 1.14% junior subordinated debentures due 2028 (2) |
54,593 |
|
|
54,593 |
|
Camco Statutory Trust I 2.95% due 2037 (4) |
4,212 |
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|
4,181 |
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Total notes issued by the parent |
1,045,835 |
|
|
1,046,104 |
|
The Bank: |
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Senior Notes: |
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|
2.24% Huntington National Bank senior note due 2018 |
845,016 |
|
|
— |
|
2.10% Huntington National Bank senior note due 2018 |
750,035 |
|
|
— |
|
1.75% Huntington National Bank senior note due 2018 |
502,822 |
|
|
— |
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2.23% Huntington National Bank senior note due 2017 |
502,549 |
|
|
499,759 |
|
2.43% Huntington National Bank senior note due 2020 |
500,646 |
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— |
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2.97% Huntington National Bank senior note due 2020 |
500,489 |
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|
— |
|
1.43% Huntington National Bank senior note due 2019 |
500,292 |
|
|
499,760 |
|
1.31% Huntington National Bank senior note due 2016 |
498,925 |
|
|
497,477 |
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1.40% Huntington National Bank senior note due 2016 |
349,793 |
|
|
349,499 |
|
0.74% Huntington National Bank senior note due 2017 (5) |
250,000 |
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|
250,000 |
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5.04% Huntington National Bank medium-term notes due 2018 |
37,535 |
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|
38,541 |
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Subordinated Notes: |
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6.67% subordinated notes due 2018 |
136,237 |
|
|
140,115 |
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5.59% subordinated notes due 2016 |
103,357 |
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|
105,731 |
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5.45% subordinated notes due 2019 |
83,833 |
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|
85,783 |
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Total notes issued by the bank |
5,561,529 |
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|
2,466,665 |
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FHLB Advances: |
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3.46% weighted average rate, varying maturities greater than one year |
7,802 |
|
|
758,052 |
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Other: |
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Huntington Technology Finance nonrecourse debt, 4.21% effective interest rate, varying maturities |
301,577 |
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|
— |
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Huntington Technology Finance ABS Trust 2014 1.35% due 2020 |
123,577 |
|
|
— |
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Huntington Technology Finance ABS Trust 2012 1.79% due 2017 |
27,153 |
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— |
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Other |
141 |
|
|
65,141 |
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Total other |
452,448 |
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|
65,141 |
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Total long-term debt |
$ |
7,067,614 |
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|
$ |
4,335,962 |
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(1) |
Variable effective rate at December 31, 2015, based on three-month LIBOR +0.70%.
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(2) |
Variable effective rate at December 31, 2015, based on three-month LIBOR +0.625%.
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(3) |
Variable effective rate at December 31, 2015, based on three-month LIBOR +1.40%.
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(4) |
Variable effective rate at December 31, 2015, based on three-month LIBOR +1.33%.
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(5) |
Variable effective rate at December 31, 2015, based on three-month LIBOR +0.425%.
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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, 2015 follows:
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(dollar amounts in thousands) |
Rate |
|
Principal amount of
subordinated note/
debenture issued to trust (1)
|
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Investment in
unconsolidated
subsidiary
|
Huntington Capital I |
1.03 |
% |
(2) |
$ |
111,816 |
|
|
$ |
6,186 |
|
Huntington Capital II |
1.14 |
|
(3) |
54,593 |
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|
3,093 |
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Sky Financial Capital Trust III |
2.01 |
|
(4) |
72,165 |
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|
2,165 |
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Sky Financial Capital Trust IV |
1.73 |
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(4) |
74,320 |
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|
2,320 |
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Camco Financial Trust |
2.95 |
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(5) |
4,212 |
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|
155 |
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Total |
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$ |
317,106 |
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|
$ |
13,919 |
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(1) |
Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. |
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(2) |
Variable effective rate at December 31, 2015, based on three-month LIBOR + 0.70.
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(3) |
Variable effective rate at December 31, 2015, based on three-month LIBOR + 62.5.
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(4) |
Variable effective rate at December 31, 2015, based on three-month LIBOR + 1.40.
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(5) |
Variable effective rate (including impact of purchase accounting accretion) at December 31, 2015, based on three month LIBOR + 1.33.
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| Schedule of Maturities of Long-term Debt |
Long-term debt maturities for the next five years and thereafter are as follows:
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dollar amounts in thousands |
2016 |
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2017 |
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2018 |
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2019 |
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2020 |
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Thereafter |
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Total |
The Parent Company: |
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Senior notes |
$ |
— |
|
|
$ |
— |
|
|
$ |
400,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
400,000 |
|
Subordinated notes |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
300,000 |
|
|
318,049 |
|
|
618,049 |
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The Bank: |
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|
|
|
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|
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Senior notes |
850,000 |
|
|
750,000 |
|
|
2,135,000 |
|
|
500,000 |
|
|
1,000,000 |
|
|
— |
|
|
5,235,000 |
|
Subordinated notes |
103,009 |
|
|
— |
|
|
125,539 |
|
|
75,716 |
|
|
— |
|
|
— |
|
|
304,264 |
|
FHLB Advances |
— |
|
|
100 |
|
|
1,163 |
|
|
348 |
|
|
2,458 |
|
|
3,921 |
|
|
7,990 |
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Other |
144,095 |
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|
96,715 |
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|
110,116 |
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|
43,340 |
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|
51,537 |
|
|
10,595 |
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|
456,398 |
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Total |
$ |
1,097,104 |
|
|
$ |
846,815 |
|
|
$ |
2,771,818 |
|
|
$ |
619,404 |
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$ |
1,353,995 |
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$ |
332,565 |
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$ |
7,021,701 |
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