NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 7 – LONG-TERM DEBT  2001 2000 Weighted Weighted Average Average Outstanding Interest Outstanding Interest Maturity Dates December 31 1 Rate 2 December 31 1 Rate 2 Alberta System Debentures and Notes Canadian dollars 2003 to 2024 819 11.0% 840 11.1% U.S. dollars (2001 and 2000 – US$625) 2002 to 2023 995 8.2% 938 8.2% Medium-Term Notes Canadian dollars 2002 to 2030 774 7.4% 791 7.4% U.S. dollars (2001 – US$233; 2000 – US$333) 2026 to 2029 371 7.7% 499 7.3% Unsecured Loans U.S. dollars (2001 and 2000 – US$107) 2003 170 2.3% 160 7.1% 3,129 3,228 Foreign exchange differential recoverable  through the tollmaking process (322) (254) 2,807 2,974 Canadian Mainline First Mortgage Pipe Line Bonds Pounds Sterling (2001 and 2000 – £25) 2007 58 16.5% 56 16.5% Debentures Canadian dollars 2002 to 2020 1,455 10.9% 1,455 10.9% U.S. dollars (2001 and 2000 – US$800) 2012 to 2023 1,274 9.2% 1,200 9.2% Medium-Term Notes Canadian dollars 2002 to 2031 2,585 7.1% 2,932 7.1% U.S. dollars (2001 and 2000 – US$120) 2010 191 6.1% 180 6.1% 5,563 5,823 Foreign exchange differential recoverable  through the tollmaking process (337) (250) 5,226 5,573 Other Medium-Term Notes Canadian dollars 2005 to 2030 342 6.6% 342 6.6% U.S. dollars (2001 – US$665;  2000 – US$785) 2006 to 2029 1,059 6.8% 1,178 6.8% Subordinated Debentures U.S. dollars (2001 and 2000 – US$57) 2006 91 9.1% 86 9.1% Long-Term Debt of Subsidiaries U.S. dollars (2001 – US$123;  2000 – US$138) 2002 to 2011 195 8.3% 207 8.2% Unsecured Loan Canadian dollars 2003 110 8.4% 180 7.6% 1,797 1,993 9,830 10,540 Less: Current Portion of Long-Term Debt  483 612 9,347 9,928 1 Amounts outstanding are stated in millions of Canadian dollars; amounts denominated in currencies other than Canadian dollars are stated in millions. 2 Weighted average interest rates are stated as at the respective outstanding dates. The effective weighted average interest rates resulting from swap agreements are as fol- lows: Alberta System U.S. dollar unsecured loans – 8.3 per cent (2000 – 8.3 per cent); and Other U.S. dollar subordinated debentures – 8.9 per cent (2000 – 8.9 per cent). 51 2001 ANNUAL REPORT 