Securities and Exchange Commission
Washington, D.C. 20549
FORM U-6B-2
Certificate of Notification
of
The Connecticut Light and Power Company
with respect to Financing of Pollution Control Facilities
Certificate is filed by: The Connecticut Light and Power Company (the
"Company")
This certificate is notice that the above-named company has issued, renewed
or guaranteed the security or securities described herein which issue, renewal
or guaranty was exempted from the provisions of Section 6(a) of the Act and was
neither the subject of a declaration or application on Form U-1 nor included
within the exemption provided by Rule U-48.
1. Type of the security or securities:Pursuant to the Loan Agreement dated as
of May 1, 1996 (the "Loan Agreement"), between the Company and the Connecticut
Development Authority (the "Authority"), the Company has issued its promissory
note in the principal amount of $62,000,000 (the "Promissory Note") to evidence
its obligation to repay the loan made to it by the Authority of the proceeds of
the Authority's $62,000,000 Pollution Control Revenue Bonds issued by the
Authority on the Company's behalf (the "Bonds"). The Bonds are supported by a
letter of credit (the "Letter of Credit") issued by Canadian Imperial Bank of
Commerce, New York Agency ("CIBC") pursuant to the Letter of Credit and
Reimbursement Agreement dated as of May 1, 1996 (the "Reimbursement
Agreement"), among the Company, CIBC, and the Co-Agent and the Participating
Banks referred to therein.
2. Issue, renewal or guaranty: Issue.
3. Principal amount of each security: $62,000,000.
4. Rate of interest per annum of each security: Pursuant to the Loan Agreement,
the Company is obligated to make loan payments equal to the amount payable as
principal of, premium, if any, or interest due on the Bonds outstanding on such
date. The Bonds may bear interest at daily, commercial paper, weekly,
mutiannual, or fixed rates. The Bonds were initially issued bearing interest
at weekly rates. The interest rate applicable to the Bonds (and therefore the
Promissory Note ) was approximately 4.175% (including applicable letter of
credit and remarketing fees).
5. Date of issue, renewal or guaranty of each security: Issued May 21, 1996.
6. If renewal of security, give date of original issue: N/A.
7. Date of maturity of each security: May 1, 2031.
8. Name of the person to whom each security was issued, renewed or guaranteed:
The Promissory Note was issued to the Authority and then assigned by the
Authority to the trustee for the Bonds as security therefor. The Bonds were
issued to Goldman, Sachs & Co. and Advest, Inc., underwriters, and then sold by
such underwriters to the public.
9. Collateral given with each security, if any: The Promissory Note is secured
by a second mortgage on the Company's interest in the Millstone 1 nuclear
electric generating plant located in Waterford, Connecticut (the "Second
Mortgage"). The Second Mortgage also secures the Company's reimbursement
obligations under the Reimbursement Agreement.
10. Consideration received for each security: The Bonds were sold to the
underwriters at 99.5% and to the public at 100%. The Company received the net
proceeds from the sale of the Bonds in exchange for the Promissory Note.
11. Application of proceeds of each security: The net proceeds from the sale of
the Bonds received in exchange for the Promissory Note were used to finance a
portion of the Company's cost of acquiring, constructing, and installing
certain pollution control and/or sewage or solid waste disposal facilities at
the Millstone 3 nuclear electric generating plant located in Waterford,
Connecticut, plus related issuance expenses.
12. Indicate by a check after the applicable statement below whether the issue,
renewal or guaranty of each security was exempt from the provisions of Section
6(a) because of:
a. the provisions contained in the first sentence of Section 6(b):
b. the provisions contained in the fourth sentence of Section 6(b):
c. the provisions contained in any rule of the Commission other than Rule U-
48: X
13. If the security or securities were exempt from the provisions of Section
6(a) by virtue of the first sentence of Section 6(b), give the figures which
indicate that the security or securities aggregate (together with all other
than outstanding notes and drafts of a maturity of nine months or less,
exclusive of days of grace, as to which such company is primarily or
secondarily liable) not more than 5 per centrum of the principal amount and par
value of the other securities of such company then outstanding. (Demand
notes, regardless of how long they may have been outstanding, shall be
considered as maturing in not more than nine months for purposes of the
exemption from Section 6(a) of the Act granted by the first sentence of Section
6(b).) N/A
14. If the security or securities are exempt from the provision of Section 6(a)
because of the fourth sentence of Section 6(b), name the security outstanding
on January 1, 1935, pursuant to the terms of which the security or securities
herein described have been issued: N/A
15. If the security or securities are exempt from the provisions of Section
6(a) because of any rule of the Commission other than Rule U-48, designate the
rule under which exemption is claimed: Rule 52
THE CONNECTICUT LIGHT AND POWER COMPANY
By_________________________/s/ Richard J. Wasserman
Richard J. Wasserman
Day, Berry & Howard
CityPlace I
Hartford, CT 06103-3499
Its Attorney
Date: May 22, 1996
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