EXHIBIT P
EXISTING DEBT AND GUARANTEES
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KeySpan Debt and Guarantees
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As of September 30, 2000, KeySpan (i) is obligated under a series of promissory
notes, having various maturities up to 2025, issued to the Long Island Power
Authority in an aggregate principal amount of approximately $602 million; (ii)
has issued and outstanding three series of perpetual preferred stock in an
aggregate principal amount of approximately $84 million; (iii) has a commercial
paper program in place with outstanding principal debt aggregating approximately
$382 million and total credit supporting the issuance of commercial paper
aggregating $700 million; and (iv) has authorized guarantees (for, among other
things, credit facilities, leases, debt securities issuance, fuel purchases,
hedge accounts and surety bonds) in the aggregate principal amount of
approximately $1,958 million relating to obligations of one of its Utility
Subsidiaries, its NonUtility Subsidiaries and certain former affiliated
companies.
Utility Subsidiary Debt
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As of September 30, 2000 (i) KeySpan Generation has two series of tax-exempt
bonds outstanding, maturing in 2027 and 2028, in amounts aggregating
approximately $66 million; (ii) KED LI has a series of medium term notes
outstanding, maturing in 2010, in an aggregate principal amount of $400 million;
(iii) KED NY has several series of tax exempt bonds outstanding, with various
maturities up to 2026, in an aggregate principal amount of approximately $649
million; (iv) Boston Gas has several series of medium term notes outstanding,
with various maturities up to 2025, in an aggregate principal amount of
approximately $210 million and a series of preferred stock, maturing in 2018, in
an aggregate principal amount of approximately $16.7 million; (v) Colonial Gas
has several series of first mortgage bonds outstanding, with various maturities
up to 2028, in an aggregate principal amount of approximately $165 million; (vi)
Essex Gas has two series of first mortgage bonds outstanding, maturing in 2001
and 2016, in an aggregate principal amount of approximately $18 million; and
(vii) ENGI had several series of mortgage bonds outstanding, with various
maturities up to 2027, in an aggregate principal amount of approximately $42
million.
