Huntington’s long-term debt consisted of the following:
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At December 31, |
(dollar amounts in millions) |
2022 |
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2021 |
The Parent Company: |
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Senior Notes: |
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2.67% Huntington Bancshares Incorporated senior notes due 2024 |
$ |
762 |
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$ |
812 |
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4.05% Huntington Bancshares Incorporated senior notes due 2025 |
481 |
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|
527 |
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4.51% Huntington Bancshares Incorporated senior notes due 2028 |
704 |
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— |
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2.60% Huntington Bancshares Incorporated senior notes due 2030 |
679 |
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744 |
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5.08% Huntington Bancshares Incorporated senior notes due 2033 |
379 |
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— |
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Subordinated Notes: |
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3.55% Huntington Bancshares Incorporated subordinated notes due 2023 |
225 |
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227 |
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Huntington Capital I Trust Preferred 5.47% junior subordinated debentures due 2027 (1) (8) |
69 |
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69 |
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Huntington Capital II Trust Preferred 5.39% junior subordinated debentures due 2028 (2) (8) |
32 |
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32 |
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Sky Financial Capital Trust III 6.17% junior subordinated debentures due 2036 (3) (8) |
72 |
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72 |
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Sky Financial Capital Trust IV 6.17% junior subordinated debentures due 2036 (3) (8) |
74 |
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74 |
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2.49% Huntington Bancshares Incorporated subordinated notes due 2036 |
1 |
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554 |
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2.53% Huntington Bancshares Incorporated subordinated notes due 2036 |
502 |
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— |
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Total notes issued by the parent |
3,980 |
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3,111 |
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The Bank: |
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Senior Notes: |
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2.55% Huntington National Bank senior notes due 2022 |
— |
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703 |
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3.16% Huntington National Bank senior notes due 2022 |
— |
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500 |
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1.83% Huntington National Bank senior notes due 2023 |
— |
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483 |
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3.60% Huntington National Bank senior notes due 2023 |
735 |
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|
748 |
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5.42% Huntington National Bank senior notes due 2025 |
299 |
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— |
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4.11% Huntington National Bank senior notes due 2025 |
486 |
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— |
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5.70% Huntington National Bank senior notes due 2025 |
1,094 |
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— |
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4.55% Huntington National Bank senior notes due 2028 |
766 |
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— |
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5.76% Huntington National Bank senior notes due 2030 |
892 |
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— |
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Subordinated Notes: |
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0.64% Huntington National Bank subordinated notes due 2022 |
— |
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113 |
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0.96% Huntington National Bank subordinated notes due 2025 |
129 |
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142 |
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3.86% Huntington National Bank subordinated notes due 2026 |
218 |
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226 |
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3.03% Huntington National Bank subordinated notes due 2029 |
153 |
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161 |
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3.75% Huntington National Bank subordinated notes due 2030 |
151 |
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169 |
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Total notes issued by the bank |
4,923 |
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3,245 |
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FHLB Advances: |
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1.04% weighted average rate, varying maturities greater than one year |
211 |
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215 |
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Other: |
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Huntington Technology Finance nonrecourse debt, 3.93% weighted average interest rate, varying maturities |
337 |
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287 |
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2.09% Huntington Preferred Capital II - Class F securities |
— |
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75 |
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6.65% Huntington Preferred Capital II - Class G securities (4) |
50 |
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50 |
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6.77% Huntington Preferred Capital II - Class I securities (5) |
50 |
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50 |
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6.90% Huntington Preferred Capital II - Class J securities (6) |
75 |
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75 |
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7.40% Huntington Preferred Capital II - Class L Securities (7) |
60 |
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— |
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Total long-term debt |
$ |
9,686 |
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$ |
7,108 |
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(1)Variable effective rate at December 31, 2022, based on three-month LIBOR +0.70%.
(2)Variable effective rate at December 31, 2022, based on three-month LIBOR +0.625%.
(3)Variable effective rate at December 31, 2022, based on three-month LIBOR +1.40%.
(4)Variable effective rate at December 31, 2022, based on three-month LIBOR +1.88%.
(5)Variable effective rate at December 31, 2022, based on three-month LIBOR +2.00%.
(6)Variable effective rate at December 31, 2022, based on three-month SOFR +2.60%.
(7)Variable effective rate at December 31, 2022 based on three-month SOFR +3.10%.
(8)Represents the outstanding amount of debentures issued to each trust and related trust-preferred securities. Refer to Note 21 “Variable Interest Entity” for trust-preferred securities details.
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