LONG-TERM DEBT AND OTHER LONG-TERM OBLIGATIONS The following tables present outstanding long-term debt and finance lease obligations for FirstEnergy as of December 31, 2022 and 2021: FMBs and secured notes - fixed rate 2023-2059 2.650% - 8.250% $ 5,153 $ 5,021 Unsecured notes - fixed rate 2023-2050 1.600% - 7.375% 16,488 18,925 Finance lease obligations 23 36 Unamortized debt discounts (5) (8) Unamortized debt issuance costs (110) (126) Unamortized fair value adjustments 5 6 Currently payable long-term debt (351) (1,606) Total long-term debt and other long-term obligations $ 21,203 $ 22,248 As of December 31, 2022 As of December 31, (Dollar amounts in millions) Maturity Date Interest Rate 2022 2021 See Note 8, "Leases," for additional information related to finance leases. FirstEnergy had the following redemptions and issuances during the twelve months ended December 31, 2022: Company Type Redemption/ Issuance Date Interest Rate Maturity Amount (in Millions) Description Redemptions FE Unsecured Notes January, 2022 4.25% 2023 $850 In December 2021, FE provided notice of redemption with a make-whole premium of approximately $38 million ($30 million after-tax). TE Senior Secured Notes February, 2022 2.65% 2028 $25 On January 27, 2022, TE instructed its indenture trustee to provide notice of partial redemption. CEI Senior Notes, Series A March, 2022 2.77% 2034 $150 On February 11, 2022, CEI instructed its indenture trustee to provide notice of full redemption. WP FMBs April, 2022 3.34% 2022 $100 WP redeemed FMBs that became due. FE Unsecured Notes June, 2022 2.85% 2022 $500 On May 23, 2022 FE provided notice of redemption. FE Unsecured Notes June, 2022 7.375% 2031 $715 On May 25, 2022, FE commenced an offer to purchase for cash a portion of its 2031 Notes and 2047 Notes, which had $1.5 billion and $1 billion principal amounts outstanding, respectively. A portion of these notes were redeemed for approximately $1.1 billion, including a tender premium of approximately $101 million ($80 million after-tax). In addition, FE recognized approximately $7 million ($5 million after-tax) of deferred cash flow hedge losses and $10 million ($8 million after-tax) in other unamortized debt costs and fees associated with the FE debt redemptions. FE Unsecured Notes June, 2022 4.85% 2047 $284 Penn FMBs June, 2022 6.09% 2022 $100 Penn redeemed FMBs that became due. FE Unsecured Notes AugustNovember 2022 7.375% 2031 $128 Beginning in the third quarter of 2022, FE repurchased a portion of the principal amount of its 2031 Notes and 2047 Notes through the open market for approximately $249 million including a premium of approximately $11 million ($9 million after tax). In addition, FE recognized approximately $3 million ($2 million after-tax) in other unamortized debt costs related to the FE open market repurchases. FE Unsecured Notes AugustSeptember 2022 4.85% 2047 $110 Issuances OE Senior Unsecured Notes September, 2022 5.50% 2033 $300 Proceeds were used to repay borrowings outstanding under the regulated money pool, to finance capital expenditures, to fund working capital needs and for other general corporate purposes. Penn FMBs November, 2022 3.79% 2032 $150 Proceeds were used to repay short-term borrowings. WP FMBs November, 2022 5.29% 2033 $250 Proceeds were used to repay short-term borrowings. On November 29, 2022, WP issued $300 million of 5.29% FMBs due 2033. $250 million was funded on December 13, 2022, and the remaining $50 million was funded on January 10, 2023. Proceeds of the issuance of the FMBs were used to repay short term borrowings. 108
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