Long-Term Debt

Long-term debt consists of borrowings having an original maturity of one year or more. The following is a summary of the Company's long-term debt.



(Dollars in millions)	March 31, 2019		December 31, 2018
Debt issued by MUAH
Senior debt:
Fixed rate 3.50% notes due June 2022	$	398	$	398
Fixed rate 3.00% notes due February 2025	397		397
Senior debt due to MUFG Bank, Ltd:
Floating rate debt due December 2021. This note, which bears interest at 0.81% above 3-month LIBOR, had a rate of 3.40% at March 31, 2019 and 3.58% at December 31, 2018	1,625		1,625
Floating rate debt due December 2022. This note, which bears interest at 0.90% above 3-month LIBOR, had a rate of 3.49% at March 31, 2019 and 3.67% at December 31, 2018	3,250		3,250
Floating rate debt due December 2023. This note, which bears interest at 0.99% above 3-month LIBOR, had a rate of 3.58% at March 31, 2019 and 3.76% at December 31, 2018	1,625		1,625
Floating rate debt due December 2023. This note, which bears interest at 0.76% above 3-month EURIBOR, had a rate of 0.76% at March 31, 2019 and 0.76% at December 31, 2018	24		24
Junior subordinated debt payable to trusts:
Floating rate note due September 2036. This note had an interest rate of 4.31% at March 31, 2019 and 4.49% at December 31, 2018	37		36
Total debt issued by MUAH	7,356		7,355

Debt issued by MUB
Senior debt:
Floating rate debt due March 2022. This note, which bears interest at 0.60% above 3-month LIBOR, had a rate of 3.21% at March 31, 2019	299		—
Fixed rate 2.25% notes due May 2019	499		498
Fixed rate 3.15% notes due April 2022	996		—
Fixed rate FHLB of San Francisco advances due between April 2019 and December 2023. These notes bear a combined weighted average rate of 2.79% at March 31, 2019 and 2.66% at December 31, 2018	7,450		9,100
Other	36		34
Total debt issued by MUB	9,280		9,632

Debt issued by other MUAH subsidiaries
Senior debt due to MUFG Bank, Ltd:
Various floating rate borrowings due between December 2020 and May 2021. These notes, which bear interest above 3-month LIBOR had a weighted average interest rate of 2.60% at March 31, 2019 and 2.80% at December 31, 2018	250		250
Various fixed rate borrowings due between June 2019 and May 2024 with a weighted average interest rate of 1.80% (between 0.14% and 2.44%) at March 31, 2019 and 1.82% (between 0.14% and 2.44%) at December 31, 2018	223		244
Subordinated debt due to Affiliate:
Floating rate borrowings due March 2019. These notes, which bore interest above 6-month LIBOR had an interest rate of 4.13% at December 31, 2018	—		75
Non-recourse debt due to MUFG Bank, Ltd:
Various floating rate non-recourse borrowings due December 2021. These notes, which bear interest above 1- or 3-month LIBOR had a weighted average interest rate of 2.74% at March 31, 2019 and 4.09% (between 2.75% and 4.17%) at December 31, 2018	3		53
Fixed rate non-recourse borrowings due between December 2019 and July 2023 which had an interest rate of 3.04% at March 31, 2019 and 3.05% at December 31, 2018	178		187
Other non-recourse debt:
Various floating rate non-recourse borrowings due between May 2019 and February 2021. These notes, which bear interest above 1- or 3-month LIBOR had a weighted average interest rate of 4.64% (between 4.59% and 4.66%) at March 31, 2019 and 4.21% (between 4.17% and 4.48%) at December 31, 2018	13		89
Fixed rate non-recourse borrowings due December 2026 which had an interest rate of 5.34% at March 31, 2019 and 5.34% at December 31, 2018	32		33
Total debt issued by other MUAH subsidiaries	699		931
Total long-term debt	$	17,335	$	17,918

MUB Senior Debt

In March 2019, MUB issued $300 million of floating rate senior bank notes and $1.0 billion of 3.150% senior bank notes. These notes were issued as part of MUB's $12.0 billion bank note program under which MUB may issue, from time to time, senior unsecured debt obligations. At March 31, 2019, there was $4.6 billion available for issuance under the program. MUB does not have any firm commitments in place to sell notes under this program.