[Federal Register Volume 60, Number 51 (Thursday, March 16, 1995)]
[Notices]
[Pages 14314-14315]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-6443]



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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26249]


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

March 10, 1995.
    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 [[Page 14315]] 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 April 3, 1995, 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.
Kingsport Power Company, et al. (70-8581)
    Kingsport Power Company (``Kingsport''), 422 Broad Street, 
Kingsport, Tennessee 37660, and Wheeling Power Company, Inc. 
(``Wheeling''), 51 Sixteenth Street, Wheeling, West Virginia 26003, 
electric utility subsidiary companies of America Electric Power 
Company, Inc., 1 Riverside Plaza, Columbus, Ohio 43215, a registered 
holding company, have filed a declaration under sections 6(a) and 7 of 
the Act and rule 54 thereunder.
    Kingsport and Wheeling propose to issue from time-to-time through 
December 31, 1996, up to $19 million and $28 million at any one time 
outstanding, respectively, unsecured promissory notes (``Notes'') to 
one or more commercial banks, other financial institutions or 
institutional investors in accordance with a term-loan agreement. The 
Notes will mature in not less than nine months nor more than ten years 
and will have a fixed or floating rate of interest, or a combination of 
both. The actual rate of interest of each Note shall be subject to 
negotiations between the borrower and the lender, but any fixed rate of 
interest will not exceed 250 basic points over the yield, at issuance, 
of U.S. Treasury obligations with comparable maturity dates, and a 
floating rate will not exceed 200 basis points over the prime rate as 
announced from time to time by a major bank. No fees or compensating 
balances will be paid to or maintained with a lender. However, if a 
bank or financial institution arranges financing with a third party, 
the institution may charge a placement fee not in excess of \7/8\ 
percent of the principal amount of the borrowing.
    Kingsport and Wheeling will use the proceeds from the sale of the 
Notes to refund long-term debt and, to the extent internally generated 
funds are insufficient, to fund their respective construction programs 
or to repay short-term unsecured debt incurred to refund long-term debt 
or to fund its construction program. Kingsport has two maturing term 
loans: (1) a $2 million term loan due November 1, 1995, bearing 
interest at 9.72 per annum; and (2) a $10 million term loan due January 
22, 1996, bearing interest at 10.78% per annum. At February 1, 1995, 
Kingsport had $3.35 million short-term debt outstanding. Kingsport 
estimates that its construction costs will be $9 million during 1995. 
Wheeling has two maturing term loans: (1) an $11 million term loan due 
November 1, 1995, bearing interest at 9.72% per annum; and (2) a $10 
million term loan due January 22, 1996, bearing interest at 10.78% per 
annum. At February 1, 1995, Wheeling had $7.825 million of short term 
debt outstanding. Wheeling estimates that its construction costs will 
be $5.5 million during 1995 and $4.6 million during 1996.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-6443 Filed 3-15-95; 8:45 am]
BILLING CODE 8010-01-M