Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 146

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 146
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 and December 31, 2023. These notes had fixed interest rates at December 31, 2024, and December 31, 2023. These notes may not be redeemed prior to their maturity dates.(f)These notes are all obligations of KeyBank. Only medium term notes due 2027 may be redeemed prior to maturity date.(g)This includes $3 million of Capital Lease financing debt with maturity dates ranging from October 1, 2025 to October 1, 2032.  This category of debt consists primarily of non-recourse debt collateralized by leased equipment under operating, direct financing and sales-type leases. Additional information pertaining to these commercial lease financing receivables is included in Note 4 (“Loan Portfolio”). This also includes $3 million of capital leases acquired in the First Niagara merger with a maturity range from March 2022 through October 2032.(h)Long-term advances from the Federal Home Loan Bank had a weighted-average interest rate of 3.12% at December 31, 2024, and 5.76% at December 31, 2023. These advances, which had fixed interest rates, were secured by real estate loans and securities totaling $79 million at December 31, 2024, and $7.6 billion at December 31, 2023.(i)Investment Fund Financing with maturity dates of September 1, 2048 and April 29, 2055, respectively.At December 31, 2024, scheduled principal payments on long-term debt were as follows:Dollars in millionsParentSubsidiariesTotal2025$1,094 $1,928 $3,022 2026— 1,215 1,215 2027738 1,303 2,041 2028882 296 1,178 2029842 340 1,182 All subsequent years1,738 1,729 3,467 As described below, KeyBank and KeyCorp have a number of programs that support our long-term financing needs.Global bank note program.  On December 13, 2024, KeyBank updated its Bank Note Program authorizing the issuance of up to $20 billion of notes. Under the program, KeyBank is authorized to issue notes with original maturities of seven days or more for senior notes or five years or more for subordinated notes. Notes will be denominated in U.S. dollars. Amount