Note 5 — Debt

Short-term Debt

At March 31, 2012, and December 31, 2011, Cleco had no short-term debt outstanding. Cleco Power had no short-term debt outstanding at March 31, 2012, or December 31, 2011.

Long-term Debt

At March 31, 2012, Cleco’s long-term debt outstanding was $1.33 billion, of which $13.5 million was due within one year, compared to $1.36 billion outstanding at December 31, 2011, of which $24.3 million was due within one year. The long-term debt due within one year at March 31, 2012, represents principal payments for the Cleco Katrina/Rita storm recovery bonds. For Cleco, long-term debt decreased $28.1 million due to $11.2 million of 5.875% Rapides Parish pollution control bonds that were redeemed, prior to maturity, at par on January 25, 2012, a $10.0 million decrease in credit facility draws, a $6.7 million scheduled Cleco Katrina/Rita storm recovery bond principal payment made in March 2012, and $0.4 million of capital lease payments. These decreases were partially offset by debt premium amortizations of $0.2 million.

At March 31, 2012, Cleco Power’s long-term debt outstanding was $1.33 billion, of which $13.5 million was due within one year, compared to $1.35 billion outstanding at December 31, 2011, of which $24.3 million was due within one year. The long-term debt due within one year at March 31, 2012, represents principal payments for the Cleco Katrina/Rita storm recovery bonds. For Cleco Power, long-term debt decreased $18.1 million primarily due to $11.2 million of 5.875% Rapides Parish pollution control bonds that were redeemed, prior to maturity, at par on January 25, 2012, a $6.7 million scheduled Cleco Katrina/Rita storm recovery bond principal payment made in March 2012, and $0.4 million of capital lease payments. These decreases were partially offset by debt premium amortizations of $0.2 million.

Credit Facilities

At March 31, 2012, Cleco Corporation and Cleco Power had no borrowings outstanding under their existing credit facilities.