[Federal Register Volume 62, Number 241 (Tuesday, December 16, 1997)]
[Notices]
[Page 65834]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-32722]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26792]


Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

December 10, 1997.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated thereunder. All interested persons are referred to the 
application(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendments thereto is/are available for public 
inspection through the Commission's Office of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by January 5, 1998, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 20549, and serve a copy on the relevant 
applicant(s) and/or declarant(s) at the address(es) specified below. 
Proof of service (by affidavit or, in case of an attorney at law, by 
certificate) should be filed with the request. Any request for hearing 
shall identify specifically the issues of fact or law that are 
disputed. A person who so requests will be notified of any hearing, if 
ordered, and will receive a copy of any notice or order issued in the 
matter. After said date, the application(s) and/or declaration(s), as 
filed or as amended, may be granted and/or permitted to become 
effective.

Northeast Utilities, et al.

(70-8875)

    Northeast Utilities (``Northeast''), 174 Brush Hill Avenue, West 
Springfield, Massachusetts 01090-0010, a registered holding company, 
and its electric utility subsidiary companies, Western Massachusetts 
Electric Company, 174 Brush Hill Avenue, West Springfield, 
Massachusetts 01090-0010, The Connecticut Light and Power Company, 107 
Selden Street, Berlin, Connecticut 06037, Holyoke Water Power Company, 
Canal Street, Holyoke, Massachusetts 01040, and Public Service Company 
of New Hampshire and North Atlantic Energy Corporation, both of 1000 
Elm Street, Manchester, New Hampshire 03015, (collectively, 
``Applicants'') have filed a post-effective amendment to their 
application-declaration filed under sections 6(a), 7, 9(a), 10 and 
12(b) of the Act and rules 43, 45, and 54 under the Act.
    By orders (``Orders'') dated February 11, 1997 and March 25, 1997 
(HCAR Nos. 26665 and 26692), Applicants were authorized to, among other 
things, enter into an unsecured revolving credit facility (``Existing 
Facility'') with various lending institutions permitting borrowings 
aggregating up to $313.75 million. Among other Applicants, Northeast 
was authorized pursuant to the Orders to make short-term borrowings 
through December 31, 2000, evidenced by short-term notes issued to 
lending institutions through formal and informal lines of credit, 
including the Existing Facility. Under the Existing Facility, Northeast 
has a maximum borrowing limit of $150 million. Applicants state that 
Northeast is currently unable to borrow under the Existing Facility.
    Northeast now proposes to issue and sell notes (``Notes'') through 
December 31, 2000 under a supplementary revolving credit facility 
(``Supplementary Revolver'') in the aggregate principal amount of up to 
$25 million. Under the Supplementary Revolver, the interest rate 
applicable to the Notes will be increased to an amount not to exceed 
the greater of (i) four percentage points over the London Interbank 
Offered Rate or (ii) three percentage points over the lender's base 
rate. In addition, the maximum annual fee payment for the issuance of 
the notes will be increased from 0.30% per annum to 1% per annum. 
Advances from the Supplementary Revolver will be used to meet 
Northeast's debt service requirements under its Employee Stock Option 
Plan and to support its other financial requirements until such time as 
Northeast begins to receive dividends from its subsidiaries again.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-32722 Filed 12-15-97; 8:45 am]
BILLING CODE 8010-01-M