As of March 31, 2012, NPC's, SPPC's and NVE's aggregate annual amount of maturities for long-term debt (including obligations related to capital leases) for the next five years and thereafter are shown below (dollars in thousands):

		NVE		NVE
			Consolidated		Holding Co.	NPC		SPPC
2012⁽¹⁾		$	132,929	$	-	$	132,841	$	88
2013			256,585		-		6,517		250,068
2014			324,153		195,000		129,142		11
2015			251,579		-		251,567		12
2016			661,682		-		211,677		450,005
	Total Debt 2012-2016		1,626,928		195,000		731,744		700,184
Thereafter			3,544,214		315,000		2,762,784		466,430
	Total Debt Before Unamortized Premium (Discount)		5,171,142		510,000		3,494,528		1,166,614
Unamortized Premium (Discount) Amount			1,972		(2)		(10,573)		12,547
	Total Debt	$	5,173,114	$	509,998	$	3,483,955	$	1,179,161

Amounts may differ from current portion of long-term debt as reported on the consolidated balance sheet due to the timing difference of payments and the change in obligation.

Substantially all utility plant is subject to the liens of the NPC Indenture and the SPPC Indenture under which their respective General and Refunding Mortgage bonds are issued.

In March 2012, NPC terminated its $600 million secured revolving credit facility which would have expired in April 2013 and replaced it with a $500 million revolving credit facility, maturing in March 2017 and secured by NPC's General and Refunding Mortgage Bond, Series Z, in an aggregate principal amount of $500 million (the “NPC Credit Agreement”). The administrative agent for the NPC Credit Agreement remains Wells Fargo Bank, National Association. NPC may use the facility for general corporate purposes and for the issuance of letters of credit.

The rate for outstanding loans under the NPC Credit Agreement will be at either an applicable base rate (defined as the highest of the Prime Rate, the Federal Funds Rate plus 0.5% and the LIBOR Base Rate plus 1.0%) plus a margin, or a LIBOR rate plus a margin. The margin varies based upon NPC's secured debt credit rating by S&P and Moody's. Currently, NPC's applicable base rate margin is 0.50% and the LIBOR rate margin is 1.50%. The rate for outstanding letters of credit will be at the LIBOR rate margin plus a fee for the issuing bank.

The NPC Credit Agreement contains one financial maintenance covenant that requires NPC to maintain a ratio of consolidated indebtedness to consolidated capital, determined as of the last day of each fiscal quarter, not to exceed 0.68 to 1.00. In the event that NPC did not meet the financial maintenance covenant or there is a different event of default, the NPC Credit Agreement would restrict dividends to NVE. Moreover, so long as NPC's senior secured debt remains rated investment grade by S&P and Moody's (in each case, with a stable or better outlook), a representation concerning no material adverse change in NPC's business, assets, property or financial condition would not be a condition to the availability of credit under the facility. In the event that NPC's senior secured debt rating were rated below investment grade by either S&P or Moody's, or investment grade by either S&P or Moody's but with a negative outlook, a representation concerning no material adverse change in NPC's business, assets, property or financial condition would be a condition to borrowing under the revolving credit facility.

The NPC Credit Agreement provides for an event of default if there is a failure under NPC's other financing agreements to meet certain payment terms or to observe other covenants that would result in an acceleration of payments due.

Similar to the $600 million secured revolving credit facility that it replaced, the NPC Credit Agreement places certain restrictions on debt incurrence, liens and dividends. These restrictions are discussed in Note 8, Debt Covenant and Other Restrictions, of the Notes to Financial Statements in the 2011 Form 10-K.

The NPC Credit Agreement contains a provision which reduces the availability under the credit facility by the negative mark-to-market exposure for hedging transactions with credit facility lenders or their energy trading affiliates. The reduction in availability limits the amount that NPC can borrow or use for letters of credit and would require that NPC prepay any amount in excess of that limitation. The amount of the reduction is calculated by NPC on a monthly basis, and after calculating such reduction, the NPC Credit Agreement provides that the reduction in availability under the revolving credit facility to NPC shall in no event exceed 50% of the total commitments then in effect under the revolving credit facility. As a result of the suspension of the Utilities' hedging program, there was no negative mark-to-market exposure for NPC as of May 7, 2012 that would impact borrowings.

In April 2012, NPC used $120 million from its revolving credit facility along with cash on hand to pay for the maturity of its General and Refunding Mortgage Notes, Series I, in an aggregate principal amount of $130 million.

In March 2012, SPPC terminated its $250 million secured revolving credit facility which would have expired in April 2013 and replaced it with a $250 million revolving credit facility, maturing in March 2017 and secured by SPPC's General and Refunding Mortgage Bond, Series S, in an aggregate principal amount of $250 million (the “SPPC Credit Agreement”). The administrative agent for the SPPC Credit Agreement is Wells Fargo Bank, National Association. SPPC may use the facility for general corporate purposes and for the issuance of letters of credit.

The rate for outstanding loans under the SPPC Credit Agreement will be at either an applicable base rate (defined as the highest of the Prime Rate, the Federal Funds Rate plus 0.5% and the LIBOR Base Rate plus 1.0%) plus a margin, or a LIBOR rate plus a margin. The margin varies based upon SPPC's secured debt credit rating by S&P and Moody's. Currently, SPPC's applicable base rate margin is 0.50% and the LIBOR rate margin is 1.50%. The rate for outstanding letters of credit will be at the LIBOR rate margin plus a fee for the issuing bank.

The SPPC Credit Agreement contains one financial maintenance covenant that requires SPPC to maintain a ratio of consolidated indebtedness to consolidated capital, determined as of the last day of each fiscal quarter, not to exceed 0.68 to 1.00. In the event that SPPC did not meet the financial maintenance covenant or there is a different event of default, the SPPC Credit Agreement would restrict dividends to NVE. Moreover, so long as SPPC's senior secured debt remains rated investment grade by S&P and Moody's (in each case, with a stable or better outlook), a representation concerning no material adverse change in SPPC's business, assets, property or financial condition would not be a condition to the availability of credit under the facility. In the event that SPPC's senior secured debt rating were rated below investment grade by either S&P or Moody's, or investment grade by either S&P or Moody's but with a negative outlook, a representation concerning no material adverse change in SPPC's business, assets, property or financial condition would be a condition to borrowing under the revolving credit facility.

The SPPC Credit Agreement provides for an event of default if there is a failure under SPPC's other financing agreements to meet certain payment terms or to observe other covenants that would result in an acceleration of payments due.

Similar to the $250 million secured revolving credit facility that it replaced, the SPPC Credit Agreement places certain restrictions on debt incurrence, liens and dividends. These restrictions are discussed in Note 8, Debt Covenant and Other Restrictions, of the Notes to Financial Statements in the 2011 Form 10-K.

The SPPC Credit Agreement contains a provision which reduces the availability under the credit facility by the negative mark-to-market exposure for hedging transactions with credit facility lenders or their energy trading affiliates. The reduction in availability limits the amount that SPPC can borrow or use for letters of credit and would require that SPPC prepay any amount in excess of that limitation. The amount of the reduction is calculated by SPPC on a monthly basis, and after calculating such reduction, the SPPC Credit Agreement provides that the reduction in availability under the revolving credit facility to SPPC shall in no event exceed 50% of the total commitments then in effect under the revolving credit facility. As a result of the suspension of the Utilities' hedging program, there was no negative mark-to-market exposure for SPPC as of May 7, 2012 that would impact borrowings.