
	Interest			September 30,		December 31,
$ in millions	Rate		Due	2023		2022
AES Ohio debt
First Mortgage Bonds	3.95	%	2049	$	425.0	$	425.0
First Mortgage Bonds	3.20	%	2040	140.0		140.0
First Mortgage Bonds	5.19	%	2033	100.0		—
Tax-exempt First Mortgage Bonds (a)	4.25	%	2027	100.0		100.0
Tax-exempt First Mortgage Bonds (b)	4.00	%	2027	40.0		40.0
U.S. Government note	4.20	%	2061	16.9		17.0
Unamortized deferred financing costs				(6.7)		(6.9)
Unamortized debt discounts, net				(2.3)		(2.4)
Total long-term debt at AES Ohio				812.9		712.7

DPL Inc. debt
Senior unsecured bonds	4.125	%	2025	415.0		415.0
Senior unsecured bonds	4.35	%	2029	400.0		400.0
Note to DPL Capital Trust II (c)	8.125	%	2031	15.6		15.6
Unamortized deferred financing costs				(5.3)		(6.7)
Unamortized debt discounts, net				(0.7)		(0.7)
Total DPL consolidated long-term debt				1,637.5		1,535.9
Less: current portion				(0.2)		(0.2)
DPL consolidated long-term debt, net of current portion				$	1,637.3	$	1,535.7

(a)First mortgage bonds issued to the OAQDA, to secure the loan of proceeds from tax-exempt bonds issued by the OAQDA. The bonds have a final maturity date of November 1, 2040 but are subject to a mandatory put in June 2027.

(b)First mortgage bonds issued to the OAQDA, to secure the loan of proceeds from tax-exempt bonds issued by the OAQDA. The bonds have a final maturity date of January 1, 2034 but are subject to a mandatory put in June 2027.

(c)Note payable to related party.

Revolving credit agreements

The DPL Credit Agreement was paid off and retired on June 14, 2023. The balance outstanding on this credit facility as of December 31, 2022 was $35.0 million.

As of September 30, 2023 and December 31, 2022, the AES Ohio Credit Agreement had outstanding borrowings of $120.0 million and $120.0 million, respectively.

Significant transactions

On April 13, 2023, AES Ohio issued $100.0 million of First Mortgage Bonds and used the proceeds from the offering to repay amounts outstanding under the AES Ohio Credit Agreement and for general corporate purposes. The new First Mortgage Bonds carry an interest rate of 5.19% and mature on April 13, 2033.

Long-term debt covenants and restrictions

The AES Ohio Credit Agreement and Fifty-Third and Fifty-Fourth Supplemental Indentures to the First Mortgage, pursuant to which the 3.20% Bonds due 2040 and the 5.19% Bonds due 2033 were issued, respectively, each contain one financial covenant. The covenant measures Total Debt to Total Capitalization and is calculated, at the end of each fiscal quarter, by dividing total debt at the end of the quarter by total capitalization at the end of the quarter. AES Ohio’s Total Debt to Total Capitalization ratio shall not be greater than 0.67 to 1.00. As of September 30, 2023, AES Ohio was in compliance with this financial covenant.

AES Ohio does not have any meaningful restrictions in its debt financing documents prohibiting dividends and return of capital payments to its parent, DPL. As of September 30, 2023, AES Ohio was in compliance with all debt covenants, including the financial covenant described above.

Substantially all property, plant & equipment of AES Ohio is subject to the lien of the mortgage securing AES Ohio’s First and Refunding Mortgage.

Subsidiaries [Member]

Debt Instrument [Line Items]

Unamortized deferred finance costs

$ (6.7)

(6.9)

Unamortized debt discounts, net

(2.3)

(2.4)

Total long-term debt at subsidiary

812.9

712.7

Total long-term debt

812.9

712.7

Less: current portion

(0.2)

Long-term debt

812.7

712.5

Long-term Line of Credit

120.0

Proceeds from Issuance of Long-term Debt

$ 100.0

$ 140.0

Long-term Debt

DEBT

Long-term debt is as follows:


	Interest			September 30,		December 31,
$ in millions	Rate		Due	2023		2022
First Mortgage Bonds	3.95	%	2049	$	425.0	$	425.0
First Mortgage Bonds	3.20	%	2040	140.0		140.0
First Mortgage Bonds	5.19	%	2033	100.0		—
Tax-exempt First Mortgage Bonds (a)	4.25	%	2027	100.0		100.0
Tax-exempt First Mortgage Bonds (b)	4.00	%	2027	40.0		40.0
U.S. Government note	4.20	%	2061	16.9		17.0
Unamortized deferred financing costs				(6.7)		(6.9)
Unamortized debt discounts, net				(2.3)		(2.4)
Total long-term debt				812.9		712.7
Less: current portion				(0.2)		(0.2)
Long-term debt, net of current portion				$	812.7	$	712.5

Revolving credit agreements

As of September 30, 2023 and December 31, 2022, the AES Ohio Credit Agreement had outstanding borrowings of $120.0 million and $120.0 million, respectively.

Significant transactions

Long-term debt covenants and restrictions

As of September 30, 2023, AES Ohio was in compliance with all debt covenants, including the financial covenant described above.

AES Ohio does not have any meaningful restrictions in its debt financing documents prohibiting dividends and return of capital payments to its parent, DPL.

Substantially all property, plant & equipment of AES Ohio is subject to the lien of the mortgage securing AES Ohio’s First and Refunding Mortgage.

3.95% Senior Notes due 2049 [Member] | Subsidiaries [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Effective Percentage

3.95%

Long-term Debt, Gross

$ 425.0

425.0

U.S. Government note maturing in February 2061 - 4.20% [Member] | Subsidiaries [Member]

Debt Instrument [Line Items]

Debt instrument interest percentage

4.20%