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DVN » Topics » Interest Rate Risk Management

These excerpts taken from the DVN 10-K filed Feb 27, 2009.
Interest Rate Risk Management
 
We also have interest rate swaps to mitigate a portion of the fair value effects of interest rate fluctuations on our fixed-rate debt. Under the terms of these swaps, we receive a fixed rate and pay a variable rate on a total notional amount of $1.05 billion. The key terms of these interest rate swaps are presented in the following table.
 
                         
      Fixed Rate
 		    Variable
 		     
Notional
   
Received
   
Rate Paid
 
Expiration
 
(In millions)                  
 
$ 500       3.90 %   Federal funds rate     July 18, 2013  
$ 300       4.30 %   Six month LIBOR     July 18, 2011  
$ 250       3.85 %   Federal funds rate     July 22, 2013  
                         
$ 1,050       4.00 %            
                         
 
Including the effects of these swaps, the weighted-average interest rate related to our fixed-rate debt was 6.64% as of January 31, 2009.
 
Interest Rate Risk Management
 
We also have interest rate swaps to mitigate a portion of the fair value effects of interest rate fluctuations on our fixed-rate debt. Under the terms of these swaps, we receive a fixed rate and pay a variable rate on a total notional amount of $1.05 billion. The key terms of these interest rate swaps are presented in the following table.
 
                         
      Fixed Rate
 		    Variable
 		     
Notional
   
Received
   
Rate Paid
 
Expiration
 
(In millions)                  
 
$ 500       3.90 %   Federal funds rate     July 18, 2013  
$ 300       4.30 %   Six month LIBOR     July 18, 2011  
$ 250       3.85 %   Federal funds rate     July 22, 2013  
                         
$ 1,050       4.00 %            
                         
 
Including the effects of these swaps, the weighted-average interest rate related to our fixed-rate debt was 6.64% as of January 31, 2009.
 
Interest
Rate Risk Management


 





We also have interest rate swaps to mitigate a portion of the
fair value effects of interest rate fluctuations on our
fixed-rate debt. Under the terms of these swaps, we receive a
fixed rate and pay a variable rate on a total notional amount of
$1.05 billion. The key terms of these interest rate swaps
are presented in the following table.


 





















































































































































                         

 

 

 

Fixed Rate



 

 

Variable



 

 

 


Notional


 

 


Received


 

 


Rate Paid


 


Expiration


 

(In millions)

 

 

 

 

 

 

 

 

 
 

$

500

 

 

 

3.90

%

 

Federal funds rate

 

 

July 18, 2013

 

$

300

 

 

 

4.30

%

 

Six month LIBOR

 

 

July 18, 2011

 

$

250

 

 

 

3.85

%

 

Federal funds rate

 

 

July 22, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

1,050

 

 

 

4.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 





Including the effects of these swaps, the weighted-average
interest rate related to our fixed-rate debt was 6.64% as of
January 31, 2009.


 






Interest
Rate Risk Management


 





We also have interest rate swaps to mitigate a portion of the
fair value effects of interest rate fluctuations on our
fixed-rate debt. Under the terms of these swaps, we receive a
fixed rate and pay a variable rate on a total notional amount of
$1.05 billion. The key terms of these interest rate swaps
are presented in the following table.


 





















































































































































                         

 

 

 

Fixed Rate



 

 

Variable



 

 

 


Notional


 

 


Received


 

 


Rate Paid


 


Expiration


 

(In millions)

 

 

 

 

 

 

 

 

 
 

$

500

 

 

 

3.90

%

 

Federal funds rate

 

 

July 18, 2013

 

$

300

 

 

 

4.30

%

 

Six month LIBOR

 

 

July 18, 2011

 

$

250

 

 

 

3.85

%

 

Federal funds rate

 

 

July 22, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

1,050

 

 

 

4.00

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 





Including the effects of these swaps, the weighted-average
interest rate related to our fixed-rate debt was 6.64% as of
January 31, 2009.


 






EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 27, 2009

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