Long-term Line of Credit

  
  
During the twelve months ended December 31, 2021, the following long-term debt was issued:  


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| Company |  | Issuance Date |  | Interest Rate |  | Maturity |  | Amount |  | Issuance Type |  | Use of Proceeds |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| FET |  | 3/19/2021 |  | 2.87% |  | 2028 |  | $500 million |  | Unsecured Notes |  | Repay short-term borrowings under the former FET Revolving Facility. |
| MP |  | 4/9/2021 |  | 3.55% | (1) | 2027 |  | $200 million |  | FMB |  | Fund MP’s ongoing capital expenditures, for working capital needs and for other general corporate purposes. |
| TE |  | 5/6/2021 |  | 2.65% |  | 2028 |  | $150 million |  | Senior Secured Notes |  | Repay short-term borrowings, fund TE’s ongoing capital expenditures and for other general corporate purposes. |
| MAIT |  | 5/24/2021 |  | 4.10% | (2) | 2028 |  | $150 million |  | Unsecured Notes |  | Repay borrowings outstanding under FirstEnergy’s regulated company money pool, fund MAIT’s ongoing capital expenditures, to fund working capital and for other general corporate purposes. |
| JCP&L |  | 6/10/2021 |  | 2.75% |  | 2032 |  | $500 million |  | Unsecured Notes |  | Repay $450 million of short-term debt under the former FE Revolving Facility, storm recovery and restoration costs and expenses, to fund JCP&L’s ongoing capital expenditures, working capital requirements and for other general corporate purposes. |
| ATSI |  | 12/1/2021 |  | 2.65% |  | 2032 |  | $600 million |  | Unsecured Notes |  | Repay outstanding notes and short-term borrowings, to fund ATSI's ongoing capital expenditures, working capital requirements and for other general corporate purposes. |
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| (1) New debt was issued at a premium under a previously issued bond series, resulting in an effective interest rate of 2.06%. |
| (2) New debt was issued at a premium under a previously issued note series, resulting in an effective interest rate of 2.55%. |

  
In December 2021, notice of redemption was provided for all remaining $850 million of FE's 4.25% Notes, Series B, due 2023, which was completed on January 20, 2022, and with a make-whole premium of approximately $38 million. Due to the redemption, the $850 million in notes is included within currently payable long-term debt on the Consolidated Balance Sheets as of December 31, 2021.  
On January 27, 2022, CEI instructed its indenture trustee to provide notice of redemption for all remaining $150 million of CEI's 2.77% Senior Notes, Series A, due 2034, for redemption to occur on March 14, 2022.   
Also on January 27, 2022, TE instructed its indenture trustee to provide notice of partial redemption for $25 million of TE's 2.65% Senior Secured Notes, due 2028, for partial redemption which occurred on February 11, 2022.  
The following table presents scheduled debt repayments or debt that has been noticed for redemption for outstanding long-term debt, excluding finance leases, fair value purchase accounting adjustments and unamortized debt discounts and premiums, for the next five years as of December 31, 2021.  


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|  |  |  |  |  |  |  |  |  |
| Year |  |  |
|   |  | (In millions) |
| 2022 |  | $ | 1,593  |  |
| 2023 |  | 344  |  |
| 2024 |  | 1,246  |  |
| 2025 |  | 2,023  |  |
| 2026 |  | 1,076  |  |

  
Securitized Bonds  
Environmental Control Bonds  
The consolidated financial statements of FirstEnergy include environmental control bonds issued by two bankruptcy remote, special purpose limited liability companies that are indirect subsidiaries of MP and PE. Proceeds from the bonds were used to construct environmental control facilities. Principal and interest owed on the environmental control bonds is secured by, and payable solely from, the proceeds of the environmental control charges. Creditors of FirstEnergy, other than the limited liability company SPEs, have no recourse to any assets or revenues of the special purpose limited liability companies. As of December 31, 2021 and 2020, $274 million and $300 million of environmental control bonds were outstanding, respectively.   
  
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