Short-Term Debt

15 Months Ended

Jun. 30, 2012

Short-Term Debt

6. Short-Term Debt

At June 30, 2012 and Dec. 31, 2011, the following credit facilities and related borrowings existed:

Credit Facilities
	June 30, 2012						Dec. 31, 2011
(millions)	Credit Facilities		Borrowings Outstanding  (1)		Letters of Credit Outstanding		Credit Facilities		Borrowings Outstanding  (1)		Letters of Credit Outstanding
Tampa Electric Company:
5-year facility (2)	$	325.0	$	0.0	$	0.7	$	325.0	$	0.0	$	0.7
1-year accounts receivable facility		150.0		0.0		0.0		150.0		0.0		0.0
TECO Energy/TECO Finance:
5-year facility (2)(3)		200.0		20.0		0.0		200.0		0.0		0.0
Total	$	675.0	$	20.0	$	0.7	$	675.0	$	0.0	$	0.7

(1) Borrowings outstanding are reported as notes payable.

(2) This 5-year facility matures Oct. 25, 2016.

(3) TECO Finance is the borrower and TECO Energy is the guarantor of this facility.

At June 30, 2012, these credit facilities require commitment fees ranging from 12.5 to 30.0 basis points. The weighted-average interest rate on outstanding amounts payable under the credit facilities at June 30, 2012 was 1.080%. There were no outstanding borrowings at Dec. 31, 2011.

Tampa Electric Company Accounts Receivable Facility

On Feb. 17, 2012, TEC and TRC amended their $150 million accounts receivable collateralized borrowing facility, entering into Amendment No. 10 to the Loan and Servicing Agreement with certain lenders named therein and Citibank, N.A. as Program Agent. The amendment (i) extends the maturity date to Feb. 15, 2013, (ii) provides that TRC will pay program and liquidity fees, which will total 60 basis points, (iii) continues to provide that the interest rates on the borrowings will be based on prevailing asset-backed commercial paper rates, unless such rates are not available from conduit lenders, in which case the rates will be at an interest rate equal to, at TEC’s option, either Citibank’s prime rate (or the federal funds rate plus 50 basis points, if higher) or a rate based on the LIBOR (if available) plus a margin and (iv) makes other technical changes.

Tampa Electric Co [Member]

Short-Term Debt

6. Short-Term Debt

At June 30, 2012 and Dec. 31, 2011, the following credit facilities and related borrowings existed:

Credit Facilities
	June 30, 2012						Dec. 31, 2011
(millions)	Credit Facilities		Borrowings Outstanding  (1)		Letters of Credit Outstanding		Credit Facilities		Borrowings Outstanding  (1)		Letters of Credit Outstanding
Tampa Electric Company:
5-year facility (2)	$	325.0	$	0.0	$	0.7	$	325.0	$	0.0	$	0.7
1-year accounts receivable facility		150.0		0.0		0.0		150.0		0.0		0.0
Total	$	475.0	$	0.0	$	0.7	$	475.0	$	0.0	$	0.7

(1) Borrowings outstanding are reported as notes payable.

(2) This 5-year facility matures Oct. 25, 2016.

At June 30, 2012, these credit facilities require commitment fees ranging from 12.5 to 30.0 basis points. There were no outstanding borrowings at June 30, 2012 or Dec. 31, 2011.

Tampa Electric Company Accounts Receivable Facility

On Feb. 17, 2012, TEC and TRC amended their $150 million accounts receivable collateralized borrowing facility, entering into Amendment No. 10 to the Loan and Servicing Agreement with certain lenders named therein and Citibank, N.A. as Program Agent. The amendment (i) extends the maturity date to Feb. 15, 2013, (ii) provides that TRC will pay program and liquidity fees, which will total 60 basis points, (iii) continues to provide that the interest rates on the borrowings will be based on prevailing asset-backed commercial paper rates, unless such rates are not available from conduit lenders, in which case the rates will be at an interest rate equal to, at TEC’s option, either Citibank’s prime rate (or the federal funds rate plus 50 basis points, if higher) or a rate based on the LIBOR (if available) plus a margin and (iv) makes other technical changes.