[Federal Register Volume 60, Number 180 (Monday, September 18, 1995)]
[Notices]
[Pages 48108-48109]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23027]
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DEPARTMENT OF ENERGY
[Docket Nos. ES95-37-001 and ES95-37-002]
Texas-New Mexico Power Company and Texas Generating Company II;
Notice of Amended Application
September 12, 1995.
Take notice that on September 8, 1995, Texas-New Mexico Power
Company (TNP) and Texas Generating Company II (TGC II) filed amendments
the application filed in Docket No. ES95-37-000. Such amendments
provide explanations of both an existing credit agreement which was
authorized by the Commission in Docket No. ES94-12-000 et al.\1\ and an
amended credit agreement which TNP and TGC II are proposing to enter
into. The amendments differentiate between the two agreements, as well
as noting the anticipated benefits to be realized by entry into the
proposed amended credit agreement. TNP notes that entry into the
amended credit agreement will allow the refinancing of currently
outstanding long-term debt with debt under the amended credit agreement
which will bear a cost lower than the existing long-term debt. TNP also
notes that its long-term debt is not anticipated to be of investment
grade until 1998 and would therefore have a cost higher than the
[[Page 48109]]
debt under the amended credit agreement. In addition to savings to be
realized through the refinancing the existing long-term debt, TNP
further notes that, under the terms of the amended credit agreement, it
will also realize cost savings as compared to borrowings under the
present credit agreement which would be replaced by the proposed credit
agreement.
\1\ 66 FERC para. 62,054 (1994).
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TNP and TGC II also note that the proposed credit agreement is, in
essence, an extension of the existing credit agreement for an
additional two years but under terms that are simpler and more
favorable than the terms of the existing credit agreement.
TNP and TGC II also submitted amended Exhibit C, Balance Sheet;
Exhibit D, Income Statement; and E, Statement of Cash Flows and
Computation of Interest Coverage, for the twelve months ended June 30,
1995, as well as supplemental information on TNP's anticipated
financial condition. The amendments also corrected a reference to TGC
II in the original filing which should have been a reference to TNP.
TNP and TGC II also request Commission action by September 25,
1995, instead of September 15, 1995 as originally requested.
Any person desiring to be heard or to protest said filing should
file a motion to intervene or protest with the Federal Energy
Regulatory Commission, 825 North Capitol Street, N.E., Washington, D.C.
20426 in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). All such motions
or protests should be filed on or before September 20, 1995. Protests
will be considered by the Commission in determining the appropriate
action to be taken, but will not serve to make the protestants partiers
to the proceeding. Any person wishing to become a party must file a
motion to intervene. Copies of this filing are on file with the
Commission and are available for public inspection.
Lois D. Cashell,
Secretary.
[FR Doc. 95-23027 Filed 9-15-95; 8:45 am]
BILLING CODE 6717-01-M
