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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. ("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, December 22, 1997, and June 22, 1999, with respect to said Declaration, as
follows:
1. During the period April 1, 2000 through June 30, 2000, the GPU Companies
issued no promissory notes representing 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 March 31, 2000, JCP&L, Met-Ed and Penelec
had outstanding unsecured short-term promissory notes issued as commercial paper
as follows:
-2-
<PAGE>
Company Amount
------- ------
GPU $60,550,000
JCP&L 0
Met-Ed 26,477,000
Penelec 100,000,000
3. During the period April 1, 2000 through June 30, 2000, GPU, JCP&L,
Met-Ed, and Penelec issued and sold (and paid at maturity where such commercial
paper matured on or before June 30, 2000) unsecured short-term promissory notes
as commercial paper as follows:
GPU
---
Date of Issuance Maturity Date Amount
---------------- ------------- ------
04/19/00 04/20/00 3,850,000
04/19/00 04/20/00 20,008,000
04/19/00 04/24/00 5,000,000
04/19/00 04/24/00 21,169,000
04/19/00 05/17/00 25,123,000
04/20/00 04/24/00 3,853,000
04/20/00 04/28/00 20,038,000
04/24/00 05/02/00 15,078,000
04/24/00 05/15/00 5,019,000
04/24/00 05/15/00 10,000,000
04/28/00 05/01/00 18,049,000
04/28/00 05/30/00 2,010,000
05/01/00 05/02/00 18,054,000
05/02/00 05/03/00 15,083,000
05/02/00 05/03/00 18,059,000
05/03/00 05/04/00 18,063,000
05/03/00 05/26/00 15,146,000
05/04/00 05/05/00 10,311,000
05/04/00 05/12/00 5,000,000
05/04/00 05/25/00 2,769,000
05/05/00 05/09/00 7,788,000
05/05/00 05/26/00 2,538,000
05/15/00 05/16/00 10,002,000
05/15/00 05/19/00 5,024,000
05/16/00 06/23/00 10,073,000
05/17/00 06/14/00 25,260,000
05/19/00 06/19/00 5,054,000
05/25/00 05/30/00 2,773,000
05/26/00 05/30/00 2,542,000
05/26/00 05/31/00 15,165,000
05/30/00 05/31/00 7,327,000
05/31/00 06/08/00 7,339,000
05/31/00 06/19/00 15,221,000
06/08/00 06/09/00 7,342,000
06/09/00 06/19/00 2,358,000
06/09/00 06/23/00 5,000,000
06/14/00 07/14/00 25,406,000
-3-
<PAGE>
GPU con't
---------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
06/19/00 06/20/00 9,215,000
06/19/00 06/21/00 7,415,000
06/19/00 06/22/00 6,012,000
06/20/00 06/21/00 9,217,000
06/21/00 06/23/00 2,465,000
06/21/00 06/26/00 7,422,000
06/21/00 06/30/00 6,765,000
06/22/00 06/23/00 4,000,000
06/22/00 06/30/00 2,016,000
06/23/00 06/26/00 16,548,000
06/23/00 06/26/00 5,003,000
06/26/00 06/29/00 7,262,000
06/26/00 06/29/00 12,433,000
06/26/00 06/30/00 9,300,000
06/27/00 07/07/00 15,030,000
06/29/00 06/30/00 5,419,000
06/29/00 07/06/00 1,845,000
06/29/00 07/06/00 12,453,000
06/30/00 07/14/00 23,566,000
JCP&L
------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
06/01/00 06/02/00 9,500,000
06/02/00 06/05/00 10,200,000
06/05/00 06/06/00 3,800,000
Met-Ed
------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
04/03/00 04/04/00 2,600,000
04/04/00 04/05/00 20,600,000
04/05/00 04/06/00 17,700,000
04/05/00 04/12/00 10,000,000
04/06/00 04/07/00 4,900,000
04/06/00 04/10/00 10,000,000
04/07/00 04/14/00 5,900,000
04/10/00 04/11/00 10,000,000
04/11/00 04/18/00 7,400,000
04/13/00 04/14/00 9,100,000
04/17/00 04/18/00 38,300,000
04/18/00 04/19/00 20,000,000
04/18/00 04/25/00 24,400,000
04/19/00 04/24/00 18,300,000
04/20/00 04/24/00 8,400,000
04/24/00 05/01/00 24,700,000
04/25/00 04/26/00 17,600,000
04/26/00 05/01/00 11,000,000
-4-
<PAGE>
Met-Ed con't
------------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
05/01/00 05/02/00 20,000,000
05/01/00 05/08/00 20,600,000
05/02/00 05/09/00 18,700,000
05/03/00 05/04/00 14,000,000
05/04/00 05/05/00 12,500,000
05/05/00 05/08/00 16,500,000
05/08/00 05/10/00 35,600,000
05/09/00 05/15/00 29,300,000
05/10/00 05/11/00 10,700,000
05/10/00 05/17/00 24,000,000
05/11/00 05/12/00 8,500,000
05/12/00 05/19/00 5,300,000
05/15/00 05/22/00 16,700,000
05/16/00 05/23/00 9,800,000
05/17/00 05/18/00 10,000,000
05/17/00 05/24/00 11,700,000
05/18/00 05/25/00 8,100,000
05/19/00 05/26/00 4,700,000
05/22/00 05/30/00 34,780,000
05/22/00 06/01/00 5,720,000
05/23/00 05/30/00 5,400,000
05/23/00 06/01/00 4,000,000
05/24/00 06/02/00 12,000,000
05/25/00 06/06/00 8,200,000
05/26/00 05/30/00 4,200,000
05/30/00 06/07/00 21,300,000
05/30/00 06/12/00 15,000,000
05/30/00 06/15/00 5,000,000
05/31/00 06/05/00 3,400,000
06/01/00 06/08/00 9,700,000
06/02/00 06/05/00 12,400,000
06/05/00 06/08/00 15,800,000
06/06/00 06/13/00 6,300,000
06/07/00 06/14/00 20,800,000
06/08/00 06/15/00 24,100,000
06/09/00 06/16/00 3,800,000
06/12/00 07/06/00 14,400,000
06/13/00 06/14/00 4,200,000
06/14/00 06/21/00 14,500,000
06/14/00 07/07/00 10,000,000
06/15/00 06/16/00 32,000,000
06/16/00 06/23/00 36,000,000
06/21/00 07/07/00 12,900,000
06/23/00 06/26/00 8,700,000
06/23/00 06/28/00 18,900,000
06/23/00 07/10/00 10,000,000
06/26/00 07/06/00 7,800,000
06/26/00 07/06/00 900,000
06/28/00 06/30/00 18,900,000
06/30/00 07/05/00 18,900,000
-5-
<PAGE>
Penelec
-------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
04/03/00 04/04/00 10,000,000
04/03/00 04/17/00 20,000,000
04/04/00 04/05/00 20,000,000
04/04/00 04/11/00 26,400,000
04/05/00 04/06/00 10,000,000
04/05/00 04/12/00 351,000
04/05/00 04/12/00 1,000,000
04/05/00 04/12/00 1,000,000
04/05/00 04/12/00 1,000,000
04/05/00 04/12/00 1,000,000
04/05/00 04/12/00 5,000,000
04/05/00 04/12/00 5,000,000
04/06/00 04/13/00 11,400,000
04/07/00 04/11/00 21,600,000
04/10/00 04/11/00 6,000,000
04/11/00 04/18/00 20,000,000
04/11/00 04/25/00 12,300,000
04/13/00 04/14/00 2,900,000
04/17/00 04/18/00 17,400,000
04/17/00 04/18/00 50,000,000
04/18/00 04/19/00 27,000,000
04/18/00 04/20/00 20,000,000
04/18/00 04/26/00 20,000,000
04/18/00 05/02/00 20,000,000
04/19/00 04/24/00 25,700,000
04/20/00 04/24/00 22,000,000
04/24/00 05/01/00 27,000,000
04/24/00 05/08/00 20,000,000
04/26/00 05/01/00 23,400,000
04/28/00 05/05/00 3,600,000
05/01/00 05/02/00 20,000,000
05/01/00 05/08/00 21,800,000
05/02/00 05/03/00 20,000,000
05/02/00 05/09/00 19,000,000
05/03/00 05/04/00 10,000,000
05/03/00 05/10/00 21,000,000
05/04/00 05/05/00 8,600,000
05/05/00 05/08/00 10,000,000
05/08/00 05/10/00 41,800,000
05/09/00 05/15/00 10,000,000
05/09/00 05/16/00 26,000,000
05/10/00 05/11/00 15,500,000
05/10/00 05/17/00 30,000,000
05/10/00 05/24/00 16,000,000
05/11/00 05/18/00 13,400,000
05/12/00 05/19/00 4,600,000
05/15/00 05/16/00 3,800,000
05/15/00 05/22/00 4,300,000
05/16/00 05/18/00 10,000,000
05/16/00 05/23/00 9,400,000
05/16/00 05/24/00 9,500,000
-6-
<PAGE>
Penelec con't
-------------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
05/17/00 05/25/00 17,500,000
05/17/00 05/30/00 2,500,000
05/17/00 06/01/00 3,500,000
05/17/00 06/02/00 4,000,000
05/18/00 05/26/00 12,300,000
05/18/00 06/07/00 10,000,000
05/19/00 05/26/00 7,200,000
05/22/00 05/30/00 8,000,000
05/23/00 05/30/00 9,000,000
05/24/00 06/02/00 12,500,000
05/24/00 06/05/00 11,400,000
05/24/00 06/07/00 1,200,000
05/25/00 06/06/00 15,900,000
05/26/00 05/30/00 19,000,000
05/30/00 06/08/00 11,500,000
05/31/00 06/09/00 12,800,000
06/01/00 06/12/00 19,000,000
06/02/00 06/05/00 15,800,000
06/05/00 06/12/00 26,000,000
06/06/00 06/13/00 14,400,000
06/07/00 06/14/00 10,300,000
06/08/00 06/15/00 9,900,000
06/09/00 06/16/00 14,000,000
06/12/00 06/19/00 25,500,000
06/12/00 07/07/00 20,000,000
06/13/00 06/14/00 12,600,000
06/14/00 06/23/00 12,600,000
06/14/00 07/06/00 10,000,000
06/15/00 06/16/00 13,000,000
06/16/00 06/23/00 25,900,000
06/19/00 06/26/00 24,400,000
06/20/00 06/21/00 3,400,000
06/21/00 06/22/00 1,800,000
06/22/00 07/10/00 6,400,000
06/23/00 06/26/00 10,000,000
06/23/00 06/29/00 11,944,000
06/23/00 06/29/00 5,556,000
06/23/00 07/11/00 10,000,000
06/26/00 06/27/00 20,000,000
06/26/00 07/05/00 8,200,000
06/26/00 07/06/00 5,000,000
06/27/00 06/28/00 19,200,000
06/28/00 07/05/00 18,300,000
06/29/00 07/20/00 15,900,000
06/30/00 07/05/00 6,000,000
-7-
<PAGE>
To summarize the above transactions, at June 30, 2000, GPU, JCP&L, Met-Ed
and Penelec had outstanding unsecured short-term promissory notes issued as
commercial paper as follows:
Company Amount
------- ------
GPU $ 78,300,000
JCP&L 0
Met-Ed 74,900,000
Penelec 99,800,000
4. At the close of business on March 31, 2000, the GPU Companies had
outstanding unsecured short-term promissory notes representing bank borrowings
under informal bank lines, as follows:
Company Amount
------- ------
GPU $ 56,300,000
JCP&L 0
Met-Ed 0
Penelec 21,200,000
During the period April 1, 2000 through June 30, 2000, the GPU Companies
issued unsecured promissory notes representing bank borrowings under informal
bank lines of credit as follows:
GPU
----
Issue
Date Bank Amount Maturity
---- ---- ------ --------
04/03/00 Sumitomo Bank 10,300,000 04/04/00
04/04/00 Chase Manhattan Bank 50,000,000 04/05/00
04/04/00 Chase Manhattan Bank 20,000,000 04/05/00
04/04/00 Sumitomo Bank 27,000,000 04/05/00
04/04/00 Summit Bank 20,000,000 04/05/00
04/05/00 Chase Manhattan Bank 50,000,000 04/06/00
04/05/00 Chase Manhattan Bank 20,000,000 04/06/00
04/05/00 Sumitomo Bank 27,000,000 04/06/00
04/05/00 Summit Bank 20,000,000 04/06/00
04/06/00 Banca Popolare Di Milano 12,000,000 04/07/00
04/06/00 Allfirst Bank 15,000,000 04/11/00
04/06/00 Chase Manhattan Bank 50,000,000 04/11/00
04/06/00 Chase Manhattan Bank 20,000,000 04/11/00
04/06/00 Summit Bank 20,000,000 04/07/00
04/07/00 Sumitomo Bank 32,100,000 04/10/00
04/10/00 Sumitomo Bank 12,100,000 04/11/00
04/10/00 Summit Bank 20,000,000 04/11/00
04/11/00 Chase Manhattan Bank 50,000,000 04/13/00
04/11/00 Chase Manhattan Bank 20,000,000 04/13/00
04/11/00 Sumitomo Bank 27,200,000 04/13/00
-8-
<PAGE>
GPU con't
---------
Issue
Date Bank Amount Maturity
---- ---- ------ --------
04/11/00 Summit Bank 20,000,000 04/12/00
04/12/00 Sumitomo Bank 20,000,000 04/13/00
04/18/00 Banca Popolare Di Milano 30,000,000 04/19/00
04/18/00 Chase Manhattan Bank 30,500,000 04/19/00
04/18/00 Chase Manhattan Bank 10,000,000 05/02/00
04/18/00 Chase Manhattan Bank 20,000,000 04/25/00
04/18/00 Mellon Bank 10,000,000 04/19/00
04/18/00 Sumitomo Bank 50,000,000 04/19/00
04/19/00 Banca Popolare Di Milano 10,500,000 04/20/00
04/19/00 Allfirst Bank 15,000,000 04/26/00
04/19/00 Summit Bank 20,000,000 05/03/00
04/20/00 Banca Popolare Di Milano 11,500,000 04/24/00
04/24/00 Chase Manhattan Bank 10,400,000 04/25/00
04/25/00 Chase Manhattan Bank 20,000,000 05/09/00
04/25/00 Sumitomo Bank 13,900,000 04/26/00
04/26/00 Allfirst Bank 15,000,000 05/10/00
04/26/00 Sumitomo Bank 14,000,000 04/27/00
04/27/00 Sumitomo Bank 13,900,000 05/01/00
05/01/00 Banca Popolare Di Milano 30,000,000 05/08/00
05/01/00 Chase Manhattan Bank 16,900,000 05/02/00
05/01/00 Merchants National Bank of Bangor 2,000,000 05/18/00
05/02/00 Chase Manhattan Bank 10,000,000 05/11/00
05/02/00 Chase Manhattan Bank 16,900,000 05/03/00
05/03/00 Chase Manhattan Bank 17,000,000 05/04/00
05/03/00 Summit Bank 20,000,000 05/18/00
05/04/00 Sumitomo Bank 17,100,000 05/05/00
05/05/00 Chase Manhattan Bank 21,500,000 05/08/00
05/08/00 Banca Popolare Di Milano 2,000,000 05/09/00
05/08/00 Chase Manhattan Bank 45,100,000 05/09/00
05/09/00 Banca Popolare Di Milano 4,900,000 05/12/00
05/09/00 Chase Manhattan Bank 20,000,000 05/22/00
05/09/00 Sumitomo Bank 30,000,000 05/10/00
05/09/00 Sumitomo Bank 20,000,000 05/19/00
05/10/00 Chase Manhattan Bank 30,000,000 05/11/00
05/10/00 Chase Manhattan Bank 20,000,000 05/16/00
05/10/00 Sumitomo Bank 1,000,000 05/11/00
05/11/00 Chase Manhattan Bank 10,000,000 05/25/00
05/11/00 Mellon Bank 8,400,000 05/18/00
05/11/00 Sumitomo Bank 22,600,000 05/12/00
05/12/00 Allfirst Bank 15,000,000 05/26/00
05/12/00 Chase Manhattan Bank 20,000,000 05/19/00
05/12/00 Sumitomo Bank 1,000,000 05/19/00
05/16/00 Sumitomo Bank 20,000,000 05/17/00
05/17/00 Sumitomo Bank 20,300,000 05/24/00
05/18/00 Chase Manhattan Bank 5,400,000 05/25/00
05/18/00 Sumitomo Bank 5,100,000 05/19/00
05/18/00 Summit Bank 20,000,000 06/08/00
05/19/00 Chase Manhattan Bank 44,200,000 05/23/00
05/19/00 Merchants National Bank of Bangor 2,000,000 06/09/00
05/22/00 Chase Manhattan Bank 20,000,000 05/25/00
05/23/00 Banca Popolare Di Milano 14,600,000 06/05/00
-9-
<PAGE>
GPU con't
----------
Issue
Date Bank Amount Maturity
---- ---- ------ --------
05/23/00 Sumitomo Bank 29,700,000 06/06/00
05/24/00 Sumitomo Bank 20,300,000 05/31/00
05/25/00 Banca Popolare Di Milano 10,700,000 06/07/00
05/25/00 Chase Manhattan Bank 30,000,000 06/02/00
05/26/00 Allfirst Bank 15,000,000 06/07/00
05/30/00 Banca Popolare Di Milano 4,700,000 06/06/00
05/30/00 Chase Manhattan Bank 2,900,000 05/31/00
05/31/00 Sumitomo Bank 16,800,000 06/15/00
06/01/00 Sumitomo Bank 1,100,000 06/06/00
06/02/00 Chase Manhattan Bank 15,000,000 06/05/00
06/02/00 Chase Manhattan Bank 15,000,000 06/09/00
06/05/00 Chase Manhattan Bank 29,500,000 06/12/00
06/06/00 Banca Popolare Di Milano 2,500,000 06/13/00
06/06/00 Sumitomo Bank 33,200,000 06/13/00
06/07/00 Chase Manhattan Bank 25,800,000 06/14/00
06/08/00 Summit Bank 20,000,000 06/22/00
06/09/00 Chase Manhattan Bank 17,100,000 06/16/00
06/12/00 Chase Manhattan Bank 29,700,000 06/26/00
06/13/00 Chase Manhattan Bank 2,400,000 06/14/00
06/13/00 Sumitomo Bank 33,200,000 06/20/00
06/14/00 Banca Popolare Di Milano 28,400,000 06/21/00
06/15/00 Sumitomo Bank 16,800,000 06/22/00
06/16/00 Banca Popolare Di Milano 1,600,000 06/21/00
06/16/00 Allfirst Bank 15,000,000 07/07/00
06/16/00 Chase Manhattan Bank 3,600,000 06/19/00
06/19/00 Chase Manhattan Bank 3,700,000 06/20/00
06/20/00 Chase Manhattan Bank 3,700,000 06/21/00
06/20/00 Sumitomo Bank 33,200,000 06/27/00
06/21/00 Banca Popolare Di Milano 30,000,000 06/28/00
06/21/00 Bank of New York 3,800,000 06/22/00
06/22/00 Chase Manhattan Bank 3,800,000 06/23/00
06/22/00 Sumitomo Bank 16,800,000 06/29/00
06/22/00 Summit Bank 20,000,000 07/06/00
06/23/00 Chase Manhattan Bank 3,800,000 06/26/00
06/26/00 Chase Manhattan Bank 34,900,000 06/27/00
06/27/00 Bank of New York 19,900,000 06/28/00
06/27/00 Sumitomo Bank 33,200,000 06/28/00
06/28/00 Banca Popolare Di Milano 30,000,000 06/29/00
06/28/00 Chase Manhattan Bank 19,900,000 06/29/00
06/28/00 Sumitomo Bank 33,200,000 06/29/00
06/29/00 Banca Popolare Di Milano 30,000,000 06/30/00
06/29/00 Chase Manhattan Bank 19,900,000 06/30/00
06/29/00 Sumitomo Bank 50,000,000 06/30/00
06/30/00 Merchants National Bank of Bangor 1,800,000 07/14/00
06/30/00 Sumitomo Bank 23,100,000 07/10/00
-10-
<PAGE>
JCP&L
Issue
Date Bank Amount Maturity
---- ---- ------ --------
05/30/00 Chase Manhattan Bank 11,000,000 05/31/00
Met-Ed
-----
Issue
Date Bank Amount Maturity
---- ---- ------ --------
04/12/00 Mellon Bank 10,900,000 04/13/00
04/14/00 Mellon Bank 14,300,000 04/17/00
04/25/00 Mellon Bank 5,000,000 04/26/00
04/26/00 Mellon Bank 10,000,000 04/27/00
04/27/00 Mellon Bank 8,400,000 05/05/00
05/08/00 Banca Popolare Di Milano 5,000,000 05/09/00
05/15/00 Mellon Bank 11,600,000 05/16/00
05/22/00 Mellon Bank 5,700,000 05/23/00
05/23/00 Mellon Bank 4,000,000 05/24/00
05/24/00 Mellon Bank 1,700,000 05/25/00
05/30/00 Chase Manhattan Bank 2,800,000 05/31/00
05/31/00 Mellon Bank 12,000,000 06/09/00
06/02/00 Mellon Bank 8,000,000 06/05/00
06/02/00 Sumitomo Bank 2,200,000 06/05/00
06/05/00 Chase Manhattan Bank 500,000 06/12/00
06/05/00 Mellon Bank 8,000,000 07/03/00
06/09/00 Mellon Bank 8,600,000 06/16/00
06/15/00 Mellon Bank 1,400,000 06/16/00
06/16/00 Mellon Bank 12,000,000 06/22/00
06/16/00 Merchants National Bank of Bangor 800,000 06/26/00
06/19/00 Chase Manhattan Bank 29,300,000 06/26/00
06/20/00 Chase Manhattan Bank 5,200,000 06/27/00
06/22/00 Chase Manhattan Bank 4,000,000 06/23/00
06/22/00 Mellon Bank 12,000,000 06/29/00
06/23/00 Chase Manhattan Bank 1,300,000 06/26/00
06/26/00 Chase Manhattan Bank 30,000,000 07/17/00
06/26/00 Merchants National Bank of Bangor 200,000 07/10/00
06/27/00 Bank of New York 4,200,000 06/28/00
06/28/00 Chase Manhattan Bank 3,100,000 06/29/00
06/29/00 Chase Manhattan Bank 1,400,000 06/30/00
06/29/00 Mellon Bank 12,000,000 06/30/00
06/30/00 Mellon Bank 12,000,000 07/03/00
06/30/00 Sumitomo Bank 3,500,000 07/10/00
-11-
<PAGE>
Penelec
-------
Issue
Date Bank Amount Maturity
---- ---- ------ --------
04/03/00 Sumitomo Bank 10,100,000 4/10/00
04/04/00 Merchants National Bank of Bangor 1,600,000 4/14/00
04/05/00 Merchants National Bank of Bangor 50,000 4/19/00
04/05/00 Sumitomo Bank 2,400,000 4/06/00
04/07/00 Mellon Bank 19,600,000 4/11/00
04/10/00 Sumitomo Bank 10,900,000 4/11/00
04/17/00 Mellon Bank 1,000,000 4/18/00
04/18/00 Mellon Bank 3,000,000 4/24/00
04/20/00 Banca Popolare Di Milano 5,000,000 4/24/00
04/24/00 Mellon Bank 4,800,000 4/25/00
04/25/00 Mellon Bank 15,000,000 4/26/00
04/26/00 Mellon Bank 10,000,000 4/27/00
04/27/00 Mellon Bank 9,400,000 4/28/00
05/01/00 Mellon Bank 11,600,000 5/12/00
05/08/00 Mellon Bank 8,400,000 5/09/00
05/12/00 Sumitomo Bank 3,600,000 5/19/00
05/22/00 Mellon Bank 2,900,000 5/23/00
05/23/00 Mellon Bank 1,200,000 5/24/00
05/30/00 Chase Manhattan Bank 1,400,000 5/31/00
06/30/00 Sumitomo Bank 4,600,000 7/10/00
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 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 April 1, 2000 through June 30, 2000, the Companies
repaid unsecured promissory notes issued to banks, as follows:
GPU
----
Date Bank Amount
---- ---- ------
04/04/00 Allfirst Bank 15,000,000
04/04/00 Chase Manhattan Bank 20,000,000
04/04/00 Merchants National Bank of Bangor 1,600,000
04/04/00 Sumitomo Bank 10,300,000
04/04/00 Summit Bank 19,700,000
04/05/00 Chase Manhattan Bank 50,000,000
04/05/00 Chase Manhattan Bank 20,000,000
04/05/00 Sumitomo Bank 27,000,000
04/05/00 Summit Bank 20,000,000
04/06/00 Chase Manhattan Bank 50,000,000
04/06/00 Chase Manhattan Bank 20,000,000
04/06/00 Sumitomo Bank 27,000,000
04/06/00 Summit Bank 20,000,000
-12-
<PAGE>
GPU con't
---------
Date Bank Amount
---- ---- ------
04/07/00 Banca Popolare Di Milano 12,000,000
04/07/00 Summit Bank 20,000,000
04/10/00 Sumitomo Bank 32,100,000
04/11/00 Allfirst Bank 15,000,000
04/11/00 Chase Manhattan Bank 50,000,000
04/11/00 Chase Manhattan Bank 20,000,000
04/11/00 Sumitomo Bank 12,100,000
04/11/00 Summit Bank 20,000,000
04/12/00 Summit Bank 20,000,000
04/13/00 Chase Manhattan Bank 50,000,000
04/13/00 Chase Manhattan Bank 20,000,000
04/13/00 Sumitomo Bank 27,200,000
04/13/00 Sumitomo Bank 20,000,000
04/19/00 Banca Popolare Di Milano 30,000,000
04/19/00 Chase Manhattan Bank 30,500,000
04/19/00 Mellon Bank 10,000,000
04/19/00 Sumitomo Bank 50,000,000
04/20/00 Banca Popolare Di Milano 10,500,000
04/24/00 Banca Popolare Di Milano 11,500,000
04/25/00 Chase Manhattan Bank 10,400,000
04/25/00 Chase Manhattan Bank 20,000,000
04/26/00 Allfirst Bank 15,000,000
04/26/00 Sumitomo Bank 13,900,000
04/27/00 Sumitomo Bank 14,000,000
05/01/00 Sumitomo Bank 13,900,000
05/02/00 Chase Manhattan Bank 10,000,000
05/02/00 Chase Manhattan Bank 16,900,000
05/03/00 Chase Manhattan Bank 16,900,000
05/03/00 Summit Bank 20,000,000
05/04/00 Chase Manhattan Bank 17,000,000
05/05/00 Sumitomo Bank 17,100,000
05/08/00 Banca Popolare Di Milano 30,000,000
05/08/00 Chase Manhattan Bank 21,500,000
05/09/00 Banca Popolare Di Milano 2,000,000
05/09/00 Chase Manhattan Bank 45,100,000
05/09/00 Chase Manhattan Bank 20,000,000
05/10/00 Allfirst Bank 15,000,000
05/10/00 Sumitomo Bank 30,000,000
05/11/00 Chase Manhattan Bank 30,000,000
05/11/00 Chase Manhattan Bank 10,000,000
05/11/00 Sumitomo Bank 1,000,000
05/12/00 Banca Popolare Di Milano 4,900,000
05/12/00 Sumitomo Bank 22,600,000
05/16/00 Chase Manhattan Bank 20,000,000
05/17/00 Sumitomo Bank 20,000,000
05/18/00 Mellon Bank 8,400,000
05/18/00 Merchants National Bank of Bangor 2,000,000
05/18/00 Summit Bank 20,000,000
05/19/00 Chase Manhattan Bank 20,000,000
05/19/00 Sumitomo Bank 5,100,000
05/19/00 Sumitomo Bank 1,000,000
-13-
<PAGE>
GPU con't
---------
Date Bank Amount
---- ---- ------
05/19/00 Sumitomo Bank 20,000,000
05/22/00 Chase Manhattan Bank 20,000,000
05/23/00 Chase Manhattan Bank 44,200,000
05/24/00 Sumitomo Bank 20,300,000
05/25/00 Chase Manhattan Bank 5,400,000
05/25/00 Chase Manhattan Bank 10,000,000
05/25/00 Chase Manhattan Bank 20,000,000
05/26/00 Allfirst Bank 15,000,000
05/31/00 Chase Manhattan Bank 2,900,000
05/31/00 Sumitomo Bank 20,300,000
06/02/00 Chase Manhattan Bank 30,000,000
06/05/00 Banca Popolare Di Milano 14,600,000
06/05/00 Chase Manhattan Bank 15,000,000
06/06/00 Banca Popolare Di Milano 4,700,000
06/06/00 Sumitomo Bank 1,100,000
06/06/00 Sumitomo Bank 29,700,000
06/07/00 Banca Popolare Di Milano 10,700,000
06/07/00 Allfirst Bank 15,000,000
06/08/00 Summit Bank 20,000,000
06/09/00 Chase Manhattan Bank 15,000,000
06/09/00 Merchants National Bank of Bangor 2,000,000
06/12/00 Chase Manhattan Bank 29,500,000
06/13/00 Banca Popolare Di Milano 2,500,000
06/13/00 Sumitomo Bank 33,200,000
06/14/00 Chase Manhattan Bank 2,400,000
06/14/00 Chase Manhattan Bank 25,800,000
06/15/00 Sumitomo Bank 16,800,000
06/16/00 Chase Manhattan Bank 17,100,000
06/19/00 Chase Manhattan Bank 3,600,000
06/20/00 Chase Manhattan Bank 3,700,000
06/20/00 Sumitomo Bank 33,200,000
06/21/00 Banca Popolare Di Milano 1,600,000
06/21/00 Banca Popolare Di Milano 28,400,000
06/21/00 Chase Manhattan Bank 3,700,000
06/22/00 Bank of New York 3,800,000
06/22/00 Sumitomo Bank 16,800,000
06/22/00 Summit Bank 20,000,000
06/23/00 Chase Manhattan Bank 3,800,000
06/26/00 Chase Manhattan Bank 3,800,000
06/26/00 Chase Manhattan Bank 29,700,000
06/27/00 Chase Manhattan Bank 34,900,000
06/27/00 Sumitomo Bank 33,200,000
06/28/00 Banca Popolare Di Milano 30,000,000
06/28/00 Bank of New York 19,900,000
06/28/00 Sumitomo Bank 33,200,000
06/29/00 Banca Popolare Di Milano 30,000,000
06/29/00 Chase Manhattan Bank 19,900,000
06/29/00 Sumitomo Bank 33,200,000
06/29/00 Sumitomo Bank 16,800,000
06/30/00 Banca Popolare Di Milano 30,000,000
06/30/00 Chase Manhattan Bank 19,900,000
06/30/00 Sumitomo Bank 50,000,000
-14-
<PAGE>
JCP&L
------
Date Bank Amount
---- ---- ------
05/31/00 Chase Manhattan Bank 11,000,000
Met-Ed
------
Date Bank Amount
---- ---- ------
04/13/00 Mellon Bank 10,900,000
04/17/00 Mellon Bank 14,300,000
04/26/00 Mellon Bank 5,000,000
04/27/00 Mellon Bank 10,000,000
05/05/00 Mellon Bank 8,400,000
05/09/00 Banca Popolare Di Milano 5,000,000
05/16/00 Mellon Bank 11,600,000
05/23/00 Mellon Bank 5,700,000
05/24/00 Mellon Bank 4,000,000
05/25/00 Mellon Bank 1,700,000
05/31/00 Chase Manhattan Bank 2,800,000
06/05/00 Mellon Bank 8,000,000
06/05/00 Sumitomo Bank 2,200,000
06/09/00 Mellon Bank 12,000,000
06/12/00 Chase Manhattan Bank 500,000
06/16/00 Mellon Bank 8,600,000
06/16/00 Mellon Bank 1,400,000
06/22/00 Mellon Bank 12,000,000
06/23/00 Chase Manhattan Bank 4,000,000
06/26/00 Chase Manhattan Bank 1,300,000
06/26/00 Chase Manhattan Bank 29,300,000
06/26/00 Merchants National Bank of Bangor 800,000
06/27/00 Chase Manhattan Bank 5,200,000
06/28/00 Bank of New York 4,200,000
06/29/00 Chase Manhattan Bank 3,100,000
06/29/00 Mellon Bank 12,000,000
06/30/00 Chase Manhattan Bank 1,400,000
06/30/00 Mellon Bank 12,000,000
Penelec
-------
Date Bank Amount
---- ---- ------
04/03/00 Chase Manhattan Bank 1,200,000
04/06/00 Sumitomo Bank 2,400,000
04/07/00 Mellon Bank 20,000,000
04/10/00 Sumitomo Bank 10,100,000
04/11/00 Mellon Bank 19,600,000
04/11/00 Sumitomo Bank 10,900,000
04/14/00 Merchants National Bank of Bangor 1,600,000
04/18/00 Mellon Bank 1,000,000
-15-
<PAGE>
Penelec con't
-------------
Date Bank Amount
---- ---- ------
04/19/00 Merchants National Bank of Bangor 50,000
04/24/00 Banca Popolare Di Milano 5,000,000
04/24/00 Mellon Bank 3,000,000
04/25/00 Mellon Bank 4,800,000
04/26/00 Mellon Bank 15,000,000
04/27/00 Mellon Bank 10,000,000
04/28/00 Mellon Bank 9,400,000
05/09/00 Mellon Bank 8,400,000
05/12/00 Mellon Bank 11,600,000
05/19/00 Sumitomo Bank 3,600,000
05/23/00 Mellon Bank 2,900,000
05/24/00 Mellon Bank 1,200,000
05/31/00 Chase Manhattan Bank 1,400,000
To summarize the above transactions, at June 30, 2000 the GPU
Companies had outstanding unsecured promissory notes pursuant to informal bank
lines of credit as follows:
GPU $ 59,900,000
JCP&L 0
Met-Ed 53,700,000
Penelec 4,600,000
-16-
<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: July 10, 2000
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