To Issue Long-Term Indebtedness, Preferred Stock and Hybrid Securities and to Enter into Deriva...
NY-ADR
11/29/17 N.Y. St. Reg. PSC-48-17-00017-P
NEW YORK STATE REGISTER
VOLUME XXXIX, ISSUE 48
November 29, 2017
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-48-17-00017-P
To Issue Long-Term Indebtedness, Preferred Stock and Hybrid Securities and to Enter into Derivative Instruments
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
The Commission is considering a petition filed by New York State Electric & Gas Corporation on October 24, 2017 seeking authorization of the issuance of approximately $1.256 billion of long-term securities and to enter into derivative instruments.
Statutory authority:
Public Service Law, section 69
Subject:
To issue long-term indebtedness, preferred stock and hybrid securities and to enter into derivative instruments.
Purpose:
To consider New York State Electric & Gas Corporation's finance transactions.
Substance of proposed rule:
The Public Service Commission is considering the petition filed by New York State Electric & Gas Corporation (NYSEG) filed on October 24, 2017, for authorization of the issuance of approximately $1.256 billion of long-term securities and to enter into derivative instruments for the purposes authorized under PSL Section 69. NYSEG plans to use the funds for purposes of: (a) refinancing $275,000,000 of debt with a maturity date prior to December 31, 2022, (b) financing up to $525,000,000 of further additions to utility plant and equipment, and (c) refunding up to $456,000,000 of tax exempt bonds either i) currently held in treasury or ii) with a mandatory redemption date prior to December 21, 2022. The full text of the petition may be viewed online at the Department of Public Service web page: www.dps.ny.gov. The Commission may adopt, reject or modify, in whole or in part, the relief proposed and may resolve related matters.
Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.ny.gov/f96dir.htm. For questions, contact:
John Pitucci, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: [email protected]
Data, views or arguments may be submitted to:
Kathleen H. Burgess, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email: [email protected]
Public comment will be received until:
45 days after publication of this notice.
Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement
Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(17-M-0659SP1)
| End of Document |