UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
September 1, 1999
(Date of earliest event reported)
PECO ENERGY TRANSITION TRUST
(Exact name of registrant as specified in its charter)
Delaware 333-58055 51-0382130
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
PECO Energy Transition Trust
c/o First Union Trust Company, National Association
920 King Street, Wilmington, Delaware 19801
(Address of principal executive offices) (Zip Code)
(302) 888-7532
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
Reference is made to the Registrant's registration statement on Form S-3, as
amended (Registration No. 333-58055), filed with the Securities and Exchange
Commission under the Securities Act of 1933, as amended. Pursuant to the
reports to the bondholders provision of the Indenture, dated as of March 1,
1999 (incorporated by reference to Exhibit 4.3.1 to the Registrant's Current
Report on Form 8-K filed with the Securities and Exchange Commission on
March 31, 1999), the Registrant prepared the attached transition bondholders
statement.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
Exhibit No. Description
20 Other documents or statements to security holders.
2
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PECO ENERGY TRANSITION TRUST
By:/s/ Diana Moy Kelly
September 15, 1999 Name: Diana Moy Kelly
Title: Beneficiary Trustee
3
PECO ENERGY TRANSITION TRUST
TRANSITION BONDHOLDERS STATEMENT
SERIES 1999-A
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------
Semi-Annual Payment Date: 9/1/99
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP: 705220 AA9 705220 AB7 705220 AC5
-----------------------------------------------------------------------
CLASS: TOTAL: A-1 A-2 A-3
-----------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------
Original Principal Amount: $ 4,000,000,000.00 $ 244,470,272.00 $ 275,371,325.00 $ 667,000,000.00
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Semi-Annual Principal Payment: (Table 3, Pg. S-21) $ 42,500,000.00 $ 42,500,000.00 - -
-----------------------------------------------------------------------
Factor per 1,000 0.0106250 0.1738452682 - -
------------------
6-Mo LIBOR*+.125%:
-----------------------------------------------------
Interest Rate: 5.48% 5.63% 5.18875%
-----------------------------------------------------
No. of days of interest:** 156 156 160
-----------------------------------------------------------------------
Interest Payment: $ 100,159,800.60 $ 5,805,354.06 $ 6,718,142.43 $ 15,381,761.11
-----------------------------------------------------------------------
Factor per 1,000 0.0250400 0.0237466667 0.0243966667 0.0230611111
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Transition Bond Balance $ 3,957,500,000.00 $ 201,970,272.00 $ 275,371,325.00 $ 667,000,000.00
-----------------------------------------------------------------------
Factor per 1,000 0.9893750 0.8261547318 1.0000000000 1.0000000000
-----------------------------------------------------------------------
Projected Transition Bond Balance (Table 2, Pg. S-20) $ 3,957,500,000.00 $ 201,970,272.00 $ 275,371,325.00 $ 667,000,000.00
-----------------------------------------------------------------------
------------------
Overcollateralization Subaccount Balance: $ 4,210,526.00
------------------
------------------
Calculated Overcollateralization level: (Table 4, Pg. S-24) $ 4,210,526.00
------------------
------------------
Capital Subaccount Balance: $ 20,252,078.70
------------------
------------------
Reserve Subaccount Balance: $ 10,776,678.31
------------------
- -----------------------------------------------------------------------------
Semi-Annual Payment Date: 9/1/99
- ------------------------------------------------------------------------------------------------------------------------------
CUSIP: 705220 AD3 705220 AE1 705220 AF8 705220 AG6
-----------------------------------------------------------------------
CLASS: A-4 A-5 A-6 A-7
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Original Principal Amount: $ 458,518,647.00 $ 464,600,000.00 $ 993,386,331.00 $ 896,653,425.00
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Semi-Annual Principal Payment: (Table 3, Pg. S-21) - - - -
-----------------------------------------------------------------------
Factor per 1,000 - - - -
---------------------
6-Mo LIBOR*+.2%:
---------------------
-----------------------------------------------------------------------
Interest Rate: 5.80% 5.26375% 6.05% 6.13%
-----------------------------------------------------------------------
No. of days of interest:** 156 160 156 156
-----------------------------------------------------------------------
Interest Payment: $ 11,524,101.99 $ 10,869,058.89 $ 26,043,278.31 $ 23,818,103.81
-----------------------------------------------------------------------
Factor per 1,000 0.0251333333 0.0233944444 0.0262166667 0.0265633333
-----------------------------------------------------------------------
Transition Bond Balance $ 458,518,647.00 $ 464,600,000.00 $ 993,386,331.00 $ 896,653,425.00
-----------------------------------------------------------------------
Factor per 1,000 1.0000000000 1.0000000000 1.0000000000 1.0000000000
-----------------------------------------------------------------------
Projected Transition Bond Balance (Table 2, Pg. S-20) $ 458,518,647.00 $ 464,600,000.00 $ 993,386,331.00 $ 896,653,425.00
-----------------------------------------------------------------------
Overcollateralization Subaccount Balance:
Calculated Overcollateralization level: (Table 4, Pg. S-24)
Capital Subaccount Balance:
Reserve Subaccount Balance:
</TABLE>
* 6-Mo. LIBOR @3/23/99: 5.06375%
** 30/360 day standard for A-1, A-2, A-4, A-6 and A-7; calendar day standard for
A-3 and A-5.
Page number references refer to the Prospectus Supplement to the Prospectus
dated March 18, 1999.
