SEC FILE NO. 70-7926
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CERTIFICATE PURSUANT TO
RULE 24
OF PARTIAL COMPLETION OF
TRANSACTIONS
GPU, INC.
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
- --------------------------------------------
In the Matter of :
:
GPU, Inc. :
Jersey Central Power & Light Company :Certificate Pursuant
Metropolitan Edison Company :To Rule 24 of Partial
Pennsylvania Electric Company :Completion of
:Transactions
:
File No. 70-7926 :
:
(Public Utility Holding Company Act of 1935) :
- -------------------------------------------- :
To the Members of the Securities and Exchange Commission:
The undersigned, GPU, Inc. (formerly known as General Public
Utilities Corporation) ("GPU"), Jersey Central Power & Light Company ("JCP&L"),
Metropolitan Edison Company ("Met-Ed") and Pennsylvania Electric Company
("Penelec"), collectively referred to as the "GPU Companies", do hereby certify
pursuant to Rule 24 of the General Rules and Regulations under the Public
Utility Holding Company Act of 1935, that certain of the transactions proposed
in the Declaration, as amended, filed in SEC File No. 70-7926, have been carried
out in accordance with the terms and conditions of, and for the purposes
requested in, said Declaration and pursuant to the Commission's Order, dated
March 18, 1992, and Supplemental Orders, dated October 26, 1994, July 17, 1996,
and December 22, 1997, with respect to said Declaration, as follows:
1. During the period July 1, 1999 through September 30, 1999, the GPU
Companies issued no promissory notes representing
-2-
<PAGE>
borrowings under the Amended and Restated Credit Agreement, dated as of July 3,
1996, as amended including by Amendment No. 1 dated as of March 31, 1997,
Amendment No. 2 dated as of May 15, 1998, and Amendment No. 3 dated as of March
2, 1999, among the GPU Companies; the banks named therein, and The Chase
Manhattan Bank, N.A., as Administrative Agent, Citibank Securities, Inc., as
Syndication Agent, and Citicorp Securities, Inc. and Chase Manhattan Bank
Securities, Inc., as Arrangers, and no such borrowings were outstanding
thereunder at such date.
2. At the close of business on June 30, 1999, JCP&L, Met-Ed and
Penelec had outstanding unsecured short-term promissory notes issued as
commercial paper as follows:
Company Amount
------- ------
JCP&L $ 95,500,000
Met-Ed 0
Penelec 0
3. During the period July 1, 1999 through September 30, 1999, JCP&L,
Met-Ed, and Penelec issued and sold (and paid at maturity where such commercial
paper matured on or before September 30, 1999) unsecured short-term promissory
notes as commercial paper as follows:
JCP&L
Date of Issuance Maturity Date Amount
- --------------- ------------- --------------
07/02/99 07/14/99 9,300,000.00
07/02/99 07/15/99 10,000,000.00
07/02/99 07/16/99 20,000,000.00
07/07/99 07/14/99 12,100,000.00
07/08/99 07/12/99 12,100,000.00
07/09/99 07/16/99 10,000,000.00
07/09/99 07/19/99 13,000,000.00
-3-
<PAGE>
JCP&L continued
- ---------------
Date of Issuance Maturity Date Amount
- --------------- ------------- -------------
07/12/99 07/20/99 27,800,000.00
07/13/99 07/21/99 20,000,000.00
07/14/99 07/22/99 31,300,000.00
07/15/99 07/23/99 19,300,000.00
07/16/99 07/21/99 13,600,000.00
07/16/99 07/23/99 10,000,000.00
07/19/99 07/26/99 24,000,000.00
07/20/99 07/27/99 27,400,000.00
07/20/99 07/28/99 4,400,000.00
07/21/99 07/29/99 16,800,000.00
07/21/99 07/30/99 16,800,000.00
07/22/99 08/02/99 12,700,000.00
07/22/99 08/03/99 12,700,000.00
07/23/99 08/04/99 26,100,000.00
07/26/99 08/05/99 16,400,000.00
07/26/99 08/06/99 15,000,000.00
07/27/99 08/03/99 12,300,000.00
07/28/99 08/09/99 16,900,000.00
07/29/99 08/20/99 10,200,000.00
07/30/99 08/11/99 24,300,000.00
08/02/99 08/12/99 11,400,000.00
08/03/99 08/13/99 9,300,000.00
08/04/99 08/12/99 12,000,000.00
08/04/99 08/13/99 12,000,000.00
08/06/99 08/09/99 19,100,000.00
08/09/99 08/10/99 15,800,000.00
08/10/99 08/11/99 5,600,000.00
08/11/99 08/16/99 13,000,000.00
08/11/99 08/17/99 13,000,000.00
08/12/99 08/18/99 16,200,000.00
08/13/99 08/19/99 16,500,000.00
08/18/99 08/23/99 22,500,000.00
08/18/99 08/24/99 22,400,000.00
08/19/99 08/26/99 8,800,000.00
08/20/99 08/23/99 12,000,000.00
08/20/99 08/27/99 25,000,000.00
08/23/99 08/26/99 24,300,000.00
08/24/99 08/25/99 17,500,000.00
08/25/99 08/26/99 84,600,000.00
08/26/99 08/27/99 60,000,000.00
08/26/99 08/27/99 25,000,000.00
08/26/99 08/27/99 26,500,000.00
08/27/99 08/30/99 141,000,000.00
08/30/99 08/31/99 6,000,000.00
08/30/99 08/31/99 35,000,000.00
08/30/99 09/07/99 50,000,000.00
08/30/99 09/13/99 50,000,000.00
09/01/99 09/08/99 6,000,000.00
09/03/99 09/07/99 31,200,000.00
09/07/99 09/08/99 20,000,000.00
09/07/99 09/09/99 40,000,000.00
-4-
<PAGE>
JCP&L continued
- ----------------
Date of Issuance Maturity Date Amount
- --------------- ------------- -------------
09/07/99 10/04/99 13,000,000.00
09/08/99 09/16/99 40,100,000.00
09/09/99 09/10/99 20,000,000.00
09/09/99 09/17/99 10,000,000.00
09/10/99 09/17/99 13,100,000.00
09/13/99 09/14/99 24,200,000.00
09/14/99 09/20/99 2,300,000.00
09/15/99 09/23/99 13,400,000.00
09/16/99 09/17/99 20,000,000.00
09/17/99 09/24/99 22,500,000.00
09/20/99 09/21/99 20,000,000.00
09/20/99 09/23/99 23,200,000.00
09/21/99 09/22/99 15,000,000.00
09/21/99 09/24/99 32,700,000.00
09/22/99 09/23/99 3,200,000.00
09/23/99 09/27/99 36,000,000.00
09/24/99 09/28/99 55,000,000.00
09/27/99 10/05/99 32,100,000.00
09/28/99 09/29/99 35,900,000.00
09/28/99 10/12/99 10,000,000.00
09/29/99 09/30/99 27,800,000.00
09/30/99 10/01/99 28,900,000.00
Met-Ed
- -------
Date of Issuance Maturity Date Amount
- --------------- ------------- -------------
07/01/99 07/02/99 18,403,000.00
07/06/99 07/07/99 29,600,000.00
07/07/99 07/08/99 27,400,000.00
07/08/99 07/09/99 23,300,000.00
07/09/99 07/12/99 22,800,000.00
07/12/99 07/13/99 16,000,000.00
07/12/99 07/14/99 15,500,000.00
07/13/99 07/15/99 15,200,000.00
07/14/99 07/16/99 13,000,000.00
07/15/99 07/19/99 16,200,000.00
07/16/99 07/19/99 10,400,000.00
07/19/99 07/20/99 15,600,000.00
07/19/99 07/21/99 10,000,000.00
07/21/99 07/22/99 17,400,000.00
07/22/99 07/23/99 15,800,000.00
07/23/99 07/26/99 14,300,000.00
07/26/99 07/27/99 11,800,000.00
07/27/99 07/28/99 8,600,000.00
07/28/99 07/29/99 7,400,000.00
07/29/99 07/30/99 5,000,000.00
07/30/99 08/02/99 7,900,000.00
08/02/99 08/03/99 33,300,000.00
08/03/99 08/04/99 32,200,000.00
08/04/99 08/05/99 26,800,000.00
-5-
<PAGE>
Met-Ed
- ------
Date of Issuance Maturity Date Amount
- --------------- ------------- -------------
08/05/99 08/06/99 24,700,000.00
08/06/99 08/09/99 22,600,000.00
08/09/99 08/10/99 23,400,000.00
08/10/99 08/11/99 23,000,000.00
08/11/99 08/12/99 21,000,000.00
08/12/99 08/13/99 20,700,000.00
08/13/99 08/16/99 18,800,000.00
08/16/99 08/17/99 17,100,000.00
08/17/99 08/18/99 18,000,000.00
08/18/99 08/19/99 17,600,000.00
08/19/99 08/20/99 18,200,000.00
08/20/99 08/23/99 17,100,000.00
08/24/99 08/25/99 10,000,000.00
08/25/99 08/26/99 14,200,000.00
08/26/99 08/27/99 13,500,000.00
08/27/99 08/30/99 8,500,000.00
08/30/99 09/01/99 7,500,000.00
09/01/99 09/16/99 5,100,000.00
09/02/99 09/09/99 8,600,000.00
09/09/99 09/10/99 9,000,000.00
09/10/99 09/17/99 6,700,000.00
09/15/99 09/23/99 13,400,000.00
09/16/99 09/17/99 3,300,000.00
Penelec None
- -------
To summarize the above transactions, at September 30, 1999, JCP&L, Met-Ed
and Penelec had outstanding unsecured short-term promissory notes issued as
commercial paper as follows:
Company Amount
------- -----
JCP&L $ 84,000,000
Met-Ed 0
Penelec 0
4. At the close of business on June 30, 1999, the GPU Companies had
outstanding unsecured short-term promissory notes representing bank borrowings
under informal bank lines, as follows:
-6-
<PAGE>
Company Amount
------- ------
GPU $ 2,100,000
JCP&L 92,300,000
Met-Ed 24,900,000
Penelec 0
During the period July 1,1999 through September 30,1999, the GPU
Companies issued unsecured promissory notes representing bank borrowings
under informal bank lines of credit as follows:
GPU
Issue
Date Bank Amount Maturity
- ------- ------------- ------------- ---------
07/01/99 Banca Popolare Di Milano 2,100,000.00 07/02/99
07/02/99 Sumitomo Bank 2,100,000.00 07/06/99
07/06/99 Sumitomo Bank 2,100,000.00 07/07/99
07/07/99 Banca Popolare Di Milano 2,100,000.00 07/08/99
07/08/99 Sumitomo Bank 2,100,000.00 07/09/99
07/09/99 Banca Popolare Di Milano 2,100,000.00 07/12/99
07/12/99 Sumitomo Bank 2,100,000.00 07/13/99
07/13/99 Banca Popolare Di Milano 2,100,000.00 07/14/99
07/14/99 Banca Popolare Di Milano 2,100,000.00 07/15/99
07/15/99 Banca Popolare Di Milano 30,000,000.00 07/16/99
07/15/99 Chase Manhattan Bank 50,000,000.00 07/22/99
07/15/99 First Union 16,800,000.00 07/20/99
07/15/99 Mellon Bank West 11,100,000.00 07/19/99
07/15/99 Sumitomo Bank 24,200,000.00 07/21/99
07/16/99 Banca Popolare Di Milano 15,000,000.00 07/19/99
07/16/99 Banca Popolare Di Milano 15,000,000.00 07/20/99
07/19/99 Chase Manhattan Bank 20,000,000.00 07/23/99
07/19/99 Sumitomo Bank 6,100,000.00 07/23/99
07/20/99 Banca Popolare Di Milano 30,000,000.00 07/26/99
07/20/99 Sumitomo Bank 1,900,000.00 07/21/99
07/21/99 Sumitomo Bank 26,100,000.00 07/27/99
07/22/99 Chase Manhattan Bank 12,000,000.00 07/30/99
07/22/99 Chase Manhattan Bank 25,000,000.00 07/28/99
07/22/99 Chase Manhattan Bank 13,000,000.00 07/29/99
07/23/99 First Union 17,300,000.00 08/03/99
07/23/99 Sumitomo Bank 8,900,000.00 08/02/99
07/26/99 Banca Popolare Di Milano 11,000,000.00 08/05/99
07/26/99 Chase Manhattan Bank 20,000,000.00 08/04/99
07/27/99 Sumitomo Bank 5,100,000.00 08/02/99
07/27/99 Summit Bank 20,000,000.00 08/06/99
07/28/99 Banca Popolare Di Milano 16,000,000.00 08/09/99
-7-
<PAGE>
GPU continued
- -------------
Issue
Date Bank Amount Maturity
- ------- ------------- ------------- ---------
07/28/99 Chase Manhattan Bank 10,000,000.00 08/05/99
07/29/99 Chase Manhattan Bank 14,000,000.00 08/10/99
07/30/99 Chase Manhattan Bank 11,700,000.00 08/09/99
08/02/99 Banca Popolare Di Milano 3,000,000.00 08/10/99
08/02/99 Sumitomo Bank 9,000,000.00 08/11/99
08/03/99 Sumitomo Bank 17,300,000.00 08/11/99
08/04/99 Chase Manhattan Bank 20,000,000.00 08/12/99
08/05/99 Banca Popolare Di Milano 11,000,000.00 08/13/99
08/05/99 Chase Manhattan Bank 1,000,000.00 08/06/99
08/05/99 Merchants of Bangor 400,000.00 08/16/99
08/05/99 Sumitomo Bank 8,700,000.00 08/13/99
08/06/99 Chase Manhattan Bank 1,000,000.00 08/09/99
08/06/99 Summit Bank 20,000,000.00 08/16/99
08/09/99 Chase Manhattan Bank 2,800,000.00 08/10/99
08/09/99 First Union 26,000,000.00 08/17/99
08/10/99 Banca Popolare Di Milano 4,000,000.00 08/18/99
08/10/99 Credit Agricole 15,800,000.00 08/18/99
08/11/99 Sumitomo Bank 26,300,000.00 08/19/99
08/12/99 Chase Manhattan Bank 15,800,000.00 08/20/99
08/12/99 Credit Agricole 4,200,000.00 08/13/99
08/13/99 Chase Manhattan Bank 24,000,000.00 08/20/99
08/16/99 Banca Popolare Di Milano 11,800,000.00 08/23/99
08/16/99 Sumitomo Bank 8,700,000.00 08/23/99
08/17/99 Banca Popolare Di Milano 6,000,000.00 08/24/99
08/17/99 Summit Bank 20,000,000.00 08/24/99
08/18/99 Banca Popolare Di Milano 12,200,000.00 08/25/99
08/18/99 Chase Manhattan Bank 12,700,000.00 08/23/99
08/19/99 Chase Manhattan Bank 1,000,000.00 08/20/99
08/19/99 Sumitomo Bank 26,300,000.00 08/26/99
08/20/99 Chase Manhattan Bank 27,300,000.00 08/27/99
08/20/99 Chase Manhattan Bank 8,700,000.00 08/25/99
08/20/99 Chase Manhattan Bank 10,000,000.00 08/23/99
08/23/99 Banca Popolare Di Milano 11,800,000.00 08/26/99
08/23/99 Chase Manhattan Bank 7,700,000.00 08/24/99
08/23/99 Chase Manhattan Bank 11,300,000.00 08/27/99
08/23/99 PNC Bank 14,300,000.00 08/27/99
08/24/99 Chase Manhattan Bank 9,800,000.00 08/25/99
08/24/99 Sumitomo Bank 8,700,000.00 08/25/99
08/24/99 Summit Bank 20,000,000.00 08/25/99
08/25/99 Chase Manhattan Bank 22,700,000.00 08/26/99
08/25/99 Sumitomo Bank 4,200,000.00 08/26/99
08/25/99 Summit Bank 20,000,000.00 08/26/99
08/26/99 Banca Popolare Di Milano 23,800,000.00 08/27/99
08/26/99 Chase Manhattan Bank 8,700,000.00 08/27/99
08/26/99 Sumitomo Bank 35,000,000.00 08/27/99
08/26/99 Summit Bank 20,000,000.00 08/27/99
-8-
<PAGE>
GPU continued
Issue
Date Bank Amount Maturity
- ---- ------------------- --------- --------
08/27/99 Chase Manhattan 19,200,000.00 09/10/99
08/27/99 First Union 26,000,000.00 08/30/99
08/27/99 Summit Bank 20,000,000.00 09/07/99
08/27/99 Chase Manhattan 50,000,000.00 08/30/99
08/27/99 Sumitomo Bank 30,300,000.00 08/30/99
08/30/99 Banca Popolare Di Milano 15,000,000.00 09/14/99
08/30/99 Banca Popolaro Di Milano 15,000,000.00 09/13/99
08/30/99 Chase Manhattan 10,000,000.00 08/31/99
08/30/99 Chase Manhattan 20,000,000.00 09/07/99
08/30/99 Chase Manhattan 20,000,000.00 09/14/99
08/30/99 Sumitomo Bank 27,600,000.00 08/31/99
08/31/99 Sumitomo Bank 35,000,000.00 09/08/99
09/02/99 Chase Manhattan 1,700,000.00 09/03/99
09/07/99 Chase Manhattan 10,000,000.00 09/16/99
09/07/99 Chase Manhattan 10,000,000.00 09/20/99
09/07/99 First Union 6,000,000.00 09/08/99
09/07/99 Summit Bank 20,000,000.00 09/17/99
09/08/99 Sumitomo Bank 22,000,000.00 09/16/99
09/10/99 Chase Manhattan 20,000,000.00 09/24/99
09/10/99 Sumitomo Bank 1,500,000.00 09/17/99
09/13/99 Banca Popolare Di Milano 4,300,000.00 09/14/99
09/13/99 Sumitomo Bank 11,500,000.00 09/14/99
09/14/99 Banca Popolare Di Milano 20,000,000.00 09/20/99
09/14/99 Chase Manhattan 16,300,000.00 09/22/99
09/14/99 First Union 26,000,000.00 09/22/99
09/14/99 Sumitomo Bank 11,500,000.00 09/20/99
09/15/99 Chase Manhattan 1,400,000.00 09/21/99
09/16/99 Bank of PA 11,500,000.00 09/21/99
09/16/99 Chase Manhattan 22,300,000.00 09/21/99
09/17/99 Credit Agricole 20,000,000.00 09/24/99
09/17/99 PNC Bank 13,200,000.00 09/24/99
09/20/99 Chase Manhattan 10,000,000.00 09/21/99
09/20/99 Sumitomo Bank 32,000,000.00 09/23/99
09/21/99 Chase Manhattan 25,800,000.00 09/27/99
09/21/99 Summit Bank 20,000,000.00 09/27/99
09/22/99 Banca Popolare Di Milano 30,000,000.00 09/28/99
09/22/99 Chase Manhattan 12,900,000.00 09/28/99
09/23/99 Sumitomo Bank 32,700,000.00 09/29/99
09/24/99 Bank of PA 15,000,000.00 10/05/99
09/24/99 Chase Manhattan 11,300,000.00 09/27/99
09/24/99 Citibank 8,700,000.00 10/05/99
09/24/99 Credit Agricole 20,000,000.00 10/08/99
09/27/99 Chase Manhattan 17,200,000.00 10/07/99
09/27/99 Chase Manhattan 20,000,000.00 10/12/99
09/27/99 Summit Bank 20,000,000.00 10/07/99
09/28/99 Banca Popolare Di Milano 10,000,000.00 10/06/99
09/28/99 Banca Popolare Di Milano 20,000,000.00 10/04/99
09/28/99 Chase Manhattan 14,700,000.00 09/29/99
09/29/99 Chase Manhattan 16,000,000.00 10/13/99
09/29/99 Chase Manhattan 16,800,000.00 10/06/99
09/29/99 Sumitomo Bank 16,300,000.00 09/30/99
09/30/99 PNC Bank 17,300,000.00 10/07/99
-9-
<PAGE>
JCP&L
- -----
Issue
Date Bank Amount Maturity
- ------- ------------- ------------- ---------
07/01/99 Banca Popolare Di Milano 7,800,000.00 07/14/99
07/01/99 Citibank 15,000,000.00 07/15/99
07/01/99 Sumitomo Bank 700,000.00 07/02/99
07/06/99 Mellon Bank 8,900,000.00 07/19/99
07/06/99 Sumitomo Bank 10,800,000.00 07/19/99
07/14/99 Banca Popolare Di Milano 1,000,000.00 07/15/99
07/20/99 Citibank 15,000,000.00 07/28/99
07/20/99 Mellon Bank 7,500,000.00 07/26/99
07/20/99 Sumitomo Bank 1,000,000.00 07/21/99
07/30/99 Citibank 15,000,000.00 08/10/99
08/05/99 Mellon Bank 9,100,000.00 08/06/99
08/09/99 Banca Popolare Di Milano 15,000,000.00 08/16/99
08/10/99 Citibank 15,000,000.00 08/17/99
08/16/99 Summit Bank 18,800,000.00 08/17/99
08/17/99 Chase 4,200,000.00 08/20/99
08/17/99 Chase 26,000,000.00 08/18/99
08/17/99 Merchants of Bangor 500,000.00 08/31/99
08/20/99 Citibank 15,000,000.00 08/27/99
08/31/99 Bank of PA 15,000,000.00 09/08/99
08/31/99 First Union 26,000,000.00 09/03/99
09/01/99 Chase 800,000.00 09/08/99
09/01/99 Chase 6,000,000.00 09/02/99
09/07/99 Merchants of Bangor 1,000,000.00 09/28/99
09/10/99 Citibank 2,000,000.00 09/17/99
09/13/99 Banca Popolare Di Milano 10,000,000.00 09/21/99
09/13/99 Mellon Bank 10,000,000.00 09/21/99
09/16/99 Sumitomo Bank 20,500,000.00 09/20/99
09/20/99 Banca Popolare Di Milano 10,000,000.00 09/21/99
Met-Ed
- -------
Issue
Date Bank Amount Maturity
- ------- ------------- ------------- ---------
07/02/99 Sumitomo Bank 30,100,000.00 07/06/99
07/20/99 Mellon Bank 12,500,000.00 07/21/99
08/23/99 Chase Bank 15,000,000.00 08/24/99
08/31/99 Chase Bank 800,000.00 08/30/99
08/30/99 Chase Bank 500,000.00 09/01/99
09/02/99 Chase Bank 1,000,000.00 09/03/99
Penelec None
- -------
Each such unsecured promissory note bears interest at a rate (after
giving effect to any fees or compensating balance requirements) not exceeding
125% of the greater of (A) the lending
-10-
<PAGE>
bank's prime rate for commercial borrowings in effect from time to time, and (B)
the Federal Funds Rate plus 1/2 of 1%, as in effect at the date of borrowing.
During the period of July 1, 1999 through September 30, 1999, the
Companies repaid unsecured promissory notes issued to banks, as follows:
GPU
- ----
Date Bank Amount
- ----- --------------- ------
07/01/99 Sumitomo Bank 2,100,000.00
07/02/99 Banca Popolare Di Milano 2,100,000.00
07/06/99 Sumitomo Bank 2,100,000.00
07/07/99 Sumitomo Bank 2,100,000.00
07/08/99 Banca Popolare Di Milano 2,100,000.00
07/09/99 Sumitomo Bank 2,100,000.00
07/12/99 Banca Popolare Di Milano 2,100,000.00
07/13/99 Sumitomo Bank 2,100,000.00
07/14/99 Banca Popolare Di Milano 2,100,000.00
07/15/99 Banca Popolare Di Milano 2,100,000.00
07/16/99 Banca Popolare Di Milano 30,000,000.00
07/19/99 Banca Popolare Di Milano 15,000,000.00
07/19/99 Mellon Bank West 11,100,000.00
07/20/99 Banca Popolare Di Milano 15,000,000.00
07/20/99 First Union 16,800,000.00
07/21/99 Sumitomo Bank 24,200,000.00
07/21/99 Sumitomo Bank 1,900,000.00
07/22/99 Chase Manhattan Bank 50,000,000.00
07/23/99 Chase Manhattan Bank 20,000,000.00
07/23/99 Sumitomo Bank 6,100,000.00
07/26/99 Banca Popolare Di Milano 30,000,000.00
07/27/99 Sumitomo Bank 26,100,000.00
07/28/99 Chase Manhattan Bank 25,000,000.00
07/29/99 Chase Manhattan Bank 13,000,000.00
07/30/99 Chase Manhattan Bank 12,000,000.00
08/02/99 Sumitomo Bank 5,100,000.00
08/02/99 Sumitomo Bank 8,900,000.00
08/03/99 First Union 17,300,000.00
08/04/99 Chase Manhattan Bank 20,000,000.00
08/05/99 Banca Popolare Di Milano 11,000,000.00
08/05/99 Chase Manhattan Bank 10,000,000.00
08/06/99 Chase Manhattan Bank 1,000,000.00
08/06/99 Summit Bank 20,000,000.00
08/09/99 Banca Popolare Di Milano 16,000,000.00
08/09/99 Chase Manhattan Bank 1,000,000.00
08/09/99 Chase Manhattan Bank 11,700,000.00
08/10/99 Banca Popolare Di Milano 3,000,000.00
-11-
<PAGE>
GPU continued
- -------------
Date Bank Amount
- ---- ---- ------
08/10/99 Chase Manhattan Bank 2,800,000.00
08/10/99 Chase Manhattan Bank 14,000,000.00
08/11/99 Sumitomo Bank 9,000,000.00
08/11/99 Sumitomo Bank 17,300,000.00
08/12/99 Chase Manhattan Bank 20,000,000.00
08/13/99 Banca Popolare Di Milano 11,000,000.00
08/13/99 CreditAgricole 4,200,000.00
08/13/99 Sumitomo Bank 8,700,000.00
08/16/99 Merchants of Bangor 400,000.00
08/16/99 Summit Bank 20,000,000.00
08/17/99 First Union 26,000,000.00
08/18/99 Banca Popolare Di Milano 4,000,000.00
08/18/99 Credit Agricole 15,800,000.00
08/19/99 Sumitomo Bank 26,300,000.00
08/20/99 Chase Manhattan Bank 24,000,000.00
08/20/99 Chase Manhattan Bank 1,000,000.00
08/20/99 Chase Manhattan Bank 15,800,000.00
08/23/99 Banca Popolare Di Milano 11,800,000.00
08/23/99 Chase Manhattan Bank 12,700,000.00
08/23/99 Chase Manhattan Bank 10,000,000.00
08/23/99 Sumitomo Bank 8,700,000.00
08/24/99 Banca Popolare Di Milano 6,000,000.00
08/24/99 Chase Manhattan Bank 7,700,000.00
08/24/99 Summit Bank 20,000,000.00
08/25/99 Banca Popolare Di Milano 12,200,000.00
08/25/99 Chase Manhattan Bank 8,700,000.00
08/25/99 Chase Manhattan Bank 9,800,000.00
08/25/99 Sumitomo Bank 8,700,000.00
08/25/99 Summit Bank 20,000,000.00
08/26/99 Banca Popolare Di Milano 11,800,000.00
08/26/99 Chase Manhattan Bank 22,700,000.00
08/26/99 Sumitomo Bank 4,200,000.00
08/26/99 Sumitomo Bank 26,300,000.00
08/26/99 Summit Bank 20,000,000.00
08/27/99 Banca Popolare Di Milano 23,800,000.00
08/27/99 Chase Manhattan Bank 27,300,000.00
08/27/99 Chase Manhattan Bank 8,700,000.00
08/27/99 Chase Manhattan Bank 11,300,000.00
08/27/99 PNC Bank 14,300,000.00
08/27/99 Sumitomo Bank 35,000,000.00
08/27/99 Summit Bank 20,000,000.00
08/30/99 First Union 26,000,000.00
08/30/99 Chase Manhattan Bank 50,000,000.00
08/30/99 Sumitomo Bank 30,300,000.00
08/31/99 Chase Manhattan Bank 10,000,000.00
08/31/99 Sumitomo Bank 27,600,000.00
09/03/99 Chase Manhattan Bank 1,700,000.00
09/07/99 Chase Manhattan Bank 20,000,000.00
09/07/99 Summit Bank 20,000,000.00
09/08/99 First Union 6,000,000.00
09/08/99 Sumitomo Bank 35,000,000.00
-12-
<PAGE>
GPU continued
- -------------
Date Bank Amount
- ---- ---- ------
09/10/99 Chase Manhattan Bank 19,200,000.00
09/13/99 Banca Popolare Di Milano 15,000,000.00
09/14/99 Banca Popolare Di Milano 4,300,000.00
09/14/99 Banca Popolare Di Milano 15,000,000.00
09/14/99 Chase Manhattan Bank 20,000,000.00
09/14/99 Sumitomo Bank 11,500,000.00
09/16/99 Chase Manhattan Bank 10,000,000.00
09/16/99 Sumitomo Bank 22,000,000.00
09/17/99 Sumitomo Bank 1,500,000.00
09/17/99 Summit Bank 20,000,000.00
09/20/99 Banca Popolare Di Milano 20,000,000.00
09/20/99 Chase Manhattan Bank 10,000,000.00
09/20/99 Sumitomo Bank 11,500,000.00
09/21/99 Bank of PA 11,500,000.00
09/21/99 Chase Manhattan Bank 22,300,000.00
09/21/99 Chase Manhattan Bank 1,400,000.00
09/21/99 Chase Manhattan Bank 10,000,000.00
09/22/99 Chase Manhattan Bank 16,300,000.00
09/22/99 First Union 26,000,000.00
09/23/99 Sumitomo Bank 32,000,000.00
09/24/99 Chase Manhattan Bank 20,000,000.00
09/24/99 Credit Agricole 20,000,000.00
09/24/99 PNC Bank 13,200,000.00
09/27/99 Chase Manhattan Bank 11,300,000.00
09/27/99 Chase Manhattan Bank 25,800,000.00
09/27/99 Summit Bank 20,000,000.00
09/28/99 Banca Popolare Di Milano 30,000,000.00
09/28/99 Chase Manhattan Bank 12,900,000.00
09/29/99 Chase Manhattan Bank 14,700,000.00
09/29/99 Sumitomo Bank 32,700,000.00
09/30/99 Sumitomo Bank 16,300,000.00
JCP&L
- -----
Date Bank Amount
- ---- ----------- ------
07/02/99 Sumitomo Bank 10,300,000.00
07/02/99 Sumitomo Bank 700,000.00
07/06/99 First Union Bank 26,000,000.00
07/07/99 Chase 20,000,000.00
07/09/99 Mellon Bank 11,100,000.00
07/12/99 Summit Bank 20,000,000.00
07/14/99 Banca Popolare Di Milano 7,800,000.00
07/14/99 Bank of PA 4,900,000.00
07/15/99 Banca Popolare Di Milano 1,000,000.00
07/15/99 Citibank 15,000,000.00
07/19/99 Mellon Bank 8,900,000.00
07/19/99 Sumitomo Bank 10,800,000.00
07/21/99 Sumitomo Bank 1,000,000.00
07/26/99 Mellon Bank 7,500,000.00
-13-
<PAGE>
JCP&L continued
- ---------------
Date Bank Amount
- ---- -------------- -------
07/28/99 Citibank 15,000,000.00
08/06/99 Mellon Bank 9,100,000.00
08/10/99 Citibank 15,000,000.00
08/16/99 Banca Popolare Di Milano 15,000,000.00
08/17/99 Citibank 15,000,000.00
08/17/99 Summit Bank 18,800,000.00
08/18/99 Chase 26,000,000.00
08/20/99 Chase 4,200,000.00
08/27/99 Citibank 15,000,000.00
08/31/99 Merchants of Bangor 500,000.00
09/02/99 Chase 6,000,000.00
09/03/99 First Union Bank 26,000,000.00
09/08/99 Bank of PA 15,000,000.00
09/08/99 Chase 800,000.00
09/17/99 Citibank 2,000,000.00
09/20/99 Sumitomo Bank 20,500,000.00
09/21/99 Banca Popolare Di Milano 10,000,000.00
09/21/99 Banca Popolare Di Milano 10,000,000.00
09/21/99 Mellon Bank 10,000,000.00
09/28/99 Merchants of Bangor 1,000,000.00
Met-Ed
Date Bank Amount
- --- ---------- ------------
07/01/99 Mellon Bank 8,900,000.00
07/01/99 Sumitomo Bank 5,900,000.00
07/06/99 Sumitomo Bank 30,100,000.00
07/12/99 Bank of PA 10,100,000.00
07/21/99 Mellon Bank 12,500,000.00
08/24/99 Chase Bank 15,000,000.00
08/30/99 Chase Bank 800,000.00
09/01/99 Chase Bank 500,000.00
09/03/99 Chase Bank 1,000,000.00
Penelec None
To summarize the above transactions, at September 30, 1999 the GPU
Companies had outstanding unsecured promissory notes pursuant to informal bank
lines of credit as follows:
GPU $181,000,000
JCP&L 0
Met-Ed 0
Penelec 0
-14-
<PAGE>
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY HOLDING COMPANY
ACT OF 1935, THE UNDERSIGNED COMPANIES HAVE DULY CAUSED THIS STATEMENT TO BE
SIGNED ON THEIR BEHALF BY THE UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GPU, INC.
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
By: /s/ T. G. Howson
-----------------------------
T. G. Howson
Vice President and Treasurer
Date: October 12, 1999
-15-
