Issuance of Securities and Other Forms of Indebtedness
NY-ADR
8/25/21 N.Y. St. Reg. PSC-34-21-00008-P
NEW YORK STATE REGISTER
VOLUME XLIII, ISSUE 34
August 25, 2021
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-34-21-00008-P
Issuance of Securities and Other Forms of Indebtedness
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 Consolidated Edison Company of New York, Inc. requesting permission to issue and sell unsecured debt obligations.
Statutory authority:
Public Service Law, section 69
Subject:
Issuance of securities and other forms of indebtedness.
Purpose:
To consider the Con Edison's request to issue and sell unsecured debt obligations.
Substance of proposed rule:
The Public Service Commission is considering a petition filed by Consolidated Edison Company of New York, Inc. (the Company) on July 26, 2021, seeking authority to issue and sell unsecured debt obligations having a maturity of more than one year.
The requested authority would allow the Company to: (i) issue and sell up to $4.025 billion aggregate principal amount of unsecured debt obligations having a maturity of more than one year for purposes of reimbursement of the Company’s treasury for moneys expended for capital purposes through December 31, 2025; (ii) enter into or continue one or more revolving credit agreements and issue and sell up to $2.25 billion aggregate principal amount at any time outstanding of unsecured debt obligations having a maturity of more than one year pursuant to such agreement(s), such issuance and sale to be for the purposes of reimbursement of the Company’s treasury for moneys expended for capital purposes through December 31, 2025; and, (iii) issue and sell up to $2.5 billion aggregate principal amount of unsecured debt obligations having a maturity of more than one year for the purposes of refunding in advance of maturity outstanding debt securities of the Company through December 31, 2025.
The full text of the petition and the full record of the proceeding may be reviewed online at the Department of Public Service web page: www.dps.ny.gov. The Commission may adopt, modify, or reject, in whole or in part, the action 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:
Michelle L. Phillips, 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:
60 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.
(21-M-0403SP1)
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