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 July 1, 2000 through September 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-
<PAGE>
2. At the close of business on June 30, 2000, 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
3. During the period July 1, 2000 through September 30, 2000, GPU,
JCP&L, Met-Ed, and Penelec issued and sold (and paid at maturity
where such commercial paper matured on or before September 30,
2000) unsecured short-term promissory notes as commercial paper
as follows:
GPU
---
Date of Issuance Maturity Date Amount
---------------- ------------- ------
07/06/00 07/07/00 1,455,000
07/06/00 07/20/00 11,030,000
07/06/00 07/26/00 1,853,000
07/07/00 08/14/00 13,581,000
07/07/00 10/06/00 3,055,000
07/14/00 08/14/00 23,704,000
07/14/00 08/14/00 25,556,000
07/20/00 07/25/00 141,000
07/20/00 07/25/00 10,900,000
07/25/00 08/29/00 11,115,000
07/26/00 08/24/00 6,888,000
08/14/00 08/15/00 25,560,000
08/14/00 08/15/00 8,586,000
08/14/00 08/15/00 23,710,000
08/14/00 08/18/00 5,000,000
08/15/00 08/17/00 1,500,000
08/15/00 09/06/00 25,668,000
08/15/00 10/30/00 22,539,000
08/18/00 08/25/00 5,007,000
08/24/00 08/28/00 2,405,000
08/24/00 09/06/00 3,300,000
08/24/00 09/20/00 1,200,000
08/25/00 08/28/00 5,003,000
08/28/00 08/29/00 2,406,000
08/28/00 08/30/00 5,007,000
08/29/00 08/30/00 2,407,000
08/29/00 08/30/00 1,135,000
08/29/00 09/08/00 10,000,000
08/30/00 08/31/00 6,144,000
08/30/00 08/31/00 2,408,000
08/31/00 09/01/00 2,411,000
-3-
<PAGE>
GPU cont'd
----------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
08/31/00 09/08/00 6,155,000
09/01/00 09/05/00 2,412,000
09/05/00 09/06/00 686,000
09/05/00 09/11/00 1,727,000
09/06/00 09/07/00 3,987,000
09/06/00 09/14/00 25,708,000
09/07/00 09/08/00 1,949,000
09/07/00 10/06/00 2,050,000
09/08/00 09/11/00 16,165,000
09/08/00 09/11/00 1,951,000
09/11/00 09/12/00 2,473,000
09/11/00 09/12/00 666,000
09/11/00 09/12/00 5,015,000
09/11/00 09/12/00 6,750,000
09/11/00 09/13/00 1,208,000
09/11/00 09/22/00 1,500,000
09/11/00 10/03/00 2,250,000
09/12/00 09/13/00 2,474,000
09/12/00 09/13/00 6,069,000
09/12/00 09/18/00 465,000
09/12/00 09/21/00 800,000
09/12/00 10/12/00 5,131,000
09/13/00 09/14/00 3,681,000
09/13/00 09/14/00 6,072,000
09/14/00 09/15/00 3,681,000
09/14/00 09/15/00 25,715,000
09/14/00 09/18/00 576,000
09/14/00 09/18/00 5,400,000
09/14/00 10/27/00 100,000
09/15/00 09/18/00 1,084,000
09/15/00 09/18/00 25,730,000
09/15/00 09/21/00 2,600,000
09/18/00 09/19/00 1,085,000
09/18/00 09/19/00 1,010,000
09/18/00 09/19/00 25,735,000
09/18/00 09/21/00 3,191,000
09/18/00 09/22/00 500,000
09/18/00 10/10/00 1,750,000
09/19/00 09/20/00 1,086,000
09/19/00 09/22/00 1,011,000
09/19/00 09/27/00 25,775,000
09/20/00 09/22/00 2,287,000
09/21/00 09/22/00 2,601,000
09/21/00 09/25/00 3,995,000
09/22/00 09/25/00 4,891,000
09/22/00 09/25/00 3,013,000
09/25/00 09/26/00 1,804,000
09/25/00 09/28/00 3,090,000
09/25/00 10/04/00 7,021,000
-4-
<PAGE>
GPU cont'd
----------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
09/26/00 09/27/00 1,806,000
09/27/00 09/28/00 1,807,000
09/27/00 10/02/00 25,801,000
09/28/00 09/29/00 4,898,000
09/29/00 10/02/00 4,901,000
JCP&L
-----
Date of Issuance Maturity Date Amount
---------------- ------------- ------
07/19/00 07/20/00 5,800,000
07/24/00 07/25/00 15,500,000
07/24/00 07/28/00 35,000,000
07/24/00 08/08/00 27,000,000
07/24/00 08/15/00 20,000,000
07/25/00 07/26/00 6,300,000
07/28/00 08/02/00 26,900,000
08/02/00 08/03/00 14,700,000
08/03/00 08/04/00 12,600,000
08/03/00 08/10/00 10,000,000
08/04/00 08/07/00 7,600,000
08/04/00 08/11/00 10,000,000
08/08/00 08/09/00 40,000,000
08/08/00 08/15/00 20,000,000
08/08/00 08/22/00 28,900,000
08/09/00 08/15/00 28,200,000
08/10/00 08/16/00 3,900,000
08/11/00 08/14/00 6,100,000
08/15/00 08/17/00 30,000,000
08/15/00 08/22/00 3,980,000
08/15/00 08/22/00 6,070,000
08/15/00 08/22/00 13,750,000
08/16/00 09/05/00 7,200,000
08/17/00 08/18/00 23,500,000
08/18/00 09/06/00 19,000,000
08/21/00 08/22/00 20,000,000
08/21/00 08/25/00 40,000,000
08/21/00 09/07/00 10,000,000
08/22/00 08/23/00 30,000,000
08/22/00 08/29/00 20,000,000
08/22/00 09/05/00 18,100,000
08/23/00 08/24/00 21,100,000
08/24/00 09/08/00 9,900,000
08/25/00 08/28/00 31,400,000
08/28/00 09/11/00 23,400,000
08/29/00 09/12/00 9,600,000
-5-
<PAGE>
JCP&L cont'd
------------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
08/30/00 09/08/00 32,000,000
08/31/00 09/14/00 4,800,000
09/01/00 09/12/00 15,000,000
09/05/00 09/12/00 26,000,000
09/06/00 09/07/00 10,300,000
09/07/00 09/13/00 16,800,000
09/08/00 09/18/00 10,000,000
09/08/00 10/06/00 20,000,000
09/11/00 09/19/00 30,700,000
09/12/00 09/13/00 24,000,000
09/12/00 09/14/00 20,000,000
09/13/00 09/14/00 32,400,000
09/14/00 09/15/00 25,000,000
09/14/00 09/18/00 25,000,000
09/15/00 09/18/00 4,800,000
09/18/00 09/21/00 15,000,000
09/18/00 10/03/00 15,900,000
09/19/00 09/26/00 19,000,000
09/19/00 10/04/00 20,200,000
09/20/00 09/25/00 20,000,000
09/20/00 10/02/00 35,000,000
09/21/00 10/12/00 16,700,000
09/25/00 10/10/00 19,500,000
09/26/00 09/27/00 7,900,000
09/28/00 09/29/00 1,500,000
09/29/00 10/03/00 7,000,000
Met-Ed
------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
07/05/00 07/12/00 12,900,000
07/05/00 07/13/00 5,100,000
07/06/00 07/20/00 19,100,000
07/07/00 07/21/00 23,100,000
07/10/00 07/11/00 13,600,000
07/11/00 08/02/00 12,000,000
07/12/00 08/03/00 15,000,000
07/13/00 07/18/00 4,000,000
07/17/00 07/24/00 1,500,000
07/20/00 07/27/00 20,700,000
07/21/00 07/28/00 19,500,000
07/24/00 07/25/00 7,500,000
07/25/00 08/07/00 4,000,000
07/26/00 08/07/00 2,600,000
07/27/00 08/08/00 9,480,000
07/27/00 08/09/00 9,820,000
-6-
<PAGE>
Met-Ed cont'd
-------------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
07/28/00 08/04/00 20,000,000
08/02/00 08/09/00 13,100,000
08/04/00 08/11/00 20,000,000
08/04/00 08/15/00 11,100,000
08/07/00 08/14/00 10,300,000
08/08/00 08/17/00 9,000,000
08/09/00 08/16/00 20,600,000
08/11/00 08/22/00 19,000,000
08/14/00 09/07/00 7,700,000
08/15/00 08/21/00 7,200,000
08/16/00 08/17/00 6,200,000
08/16/00 08/23/00 20,000,000
08/17/00 08/24/00 1,500,000
08/17/00 08/24/00 11,700,000
08/18/00 09/08/00 6,900,000
08/21/00 08/25/00 8,000,000
08/22/00 08/29/00 16,500,000
08/23/00 09/08/00 21,500,000
08/24/00 09/05/00 13,700,000
08/25/00 09/06/00 7,700,000
08/29/00 08/30/00 13,500,000
08/30/00 09/06/00 14,700,000
08/31/00 09/21/00 2,400,000
09/05/00 09/12/00 13,900,000
09/06/00 09/13/00 18,220,000
09/06/00 09/14/00 2,080,000
09/07/00 09/14/00 6,900,000
09/08/00 09/18/00 6,900,000
09/08/00 10/06/00 20,000,000
09/11/00 09/19/00 4,000,000
09/12/00 09/26/00 14,000,000
09/13/00 09/14/00 18,000,000
09/14/00 09/15/00 10,000,000
09/14/00 09/18/00 17,000,000
09/15/00 10/05/00 10,000,000
09/18/00 10/04/00 20,000,000
09/19/00 09/25/00 5,000,000
09/22/00 10/27/00 5,000,000
09/25/00 10/10/00 5,000,000
09/26/00 09/27/00 13,900,000
09/27/00 10/12/00 12,000,000
09/28/00 09/29/00 2,500,000
Penelec
-------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
07/05/00 07/06/00 9,300,000
07/05/00 07/12/00 13,592,000
-7-
<PAGE>
Penelec cont'd
--------------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
07/05/00 07/14/00 6,408,000
07/06/00 07/13/00 14,000,000
07/06/00 07/14/00 6,300,000
07/07/00 07/21/00 20,100,000
07/10/00 07/17/00 12,100,000
07/11/00 08/02/00 9,700,000
07/12/00 08/03/00 12,400,000
07/13/00 07/18/00 12,400,000
07/14/00 07/19/00 17,400,000
07/17/00 07/24/00 10,900,000
07/18/00 07/25/00 6,400,000
07/18/00 07/26/00 2,500,000
07/19/00 07/26/00 20,000,000
07/20/00 07/27/00 17,900,000
07/21/00 07/28/00 20,200,000
07/24/00 07/31/00 8,900,000
07/25/00 07/26/00 3,200,000
07/26/00 07/28/00 30,000,000
07/27/00 08/02/00 18,000,000
07/28/00 08/02/00 50,000,000
07/31/00 08/02/00 9,000,000
08/02/00 08/07/00 23,600,000
08/03/00 08/04/00 50,000,000
08/03/00 08/04/00 26,000,000
08/04/00 08/07/00 48,000,000
08/04/00 08/10/00 22,000,000
08/07/00 08/08/00 18,900,000
08/08/00 08/09/00 17,200,000
08/09/00 08/11/00 15,800,000
08/10/00 08/11/00 20,000,000
08/11/00 08/14/00 14,500,000
08/11/00 08/18/00 20,000,000
08/14/00 08/15/00 12,200,000
08/15/00 08/17/00 8,100,000
08/16/00 08/23/00 13,000,000
08/17/00 08/24/00 5,600,000
08/18/00 09/05/00 18,800,000
08/21/00 08/22/00 20,000,000
08/21/00 08/28/00 20,000,000
08/22/00 08/29/00 17,100,000
08/23/00 09/11/00 10,800,000
08/24/00 08/25/00 3,700,000
08/25/00 09/06/00 6,200,000
08/28/00 09/07/00 17,400,000
08/29/00 08/30/00 14,000,000
08/30/00 09/06/00 11,500,000
08/31/00 09/21/00 11,000,000
09/01/00 09/08/00 20,000,000
09/05/00 09/12/00 16,800,000
-8-
<PAGE>
Penelec cont'd
--------------
Date of Issuance Maturity Date Amount
---------------- ------------- ------
09/06/00 09/13/00 4,000,000
09/06/00 09/14/00 15,700,000
09/07/00 09/19/00 21,000,000
09/08/00 10/06/00 17,400,000
09/11/00 09/18/00 8,400,000
09/12/00 09/14/00 19,000,000
09/14/00 09/15/00 10,000,000
09/14/00 09/18/00 24,600,000
09/15/00 10/05/00 3,500,000
09/18/00 09/22/00 15,000,000
09/18/00 10/03/00 15,200,000
09/19/00 10/04/00 36,000,000
09/21/00 10/12/00 8,500,000
09/22/00 10/27/00 13,000,000
09/25/00 10/10/00 5,000,000
To summarize the above transactions, at September 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 $ 74,598,000
JCP&L 134,300,000
Met-Ed 72,000,000
Penelec 98,600,000
4. At the close of business on June 30, 2000, the GPU Companies had
outstanding unsecured short-term promissory notes representing bank borrowings
under informal bank lines, as follows:
Company Amount
------- ------
GPU $59,900,000
JCP&L 0
Met-Ed 53,700,000
Penelec 4,600,000
During the period July 1, 2000 through September 30, 2000, the GPU
Companies issued unsecured promissory notes representing bank borrowings under
informal bank lines of credit as follows:
-9-
<PAGE>
GPU
---
Issue
Date Bank Amount Maturity
---- ---- ------ --------
07/05/00 BANCA POPOLARE DI MILANO 3,500,000 07/12/00
07/06/00 SUMMIT BANK 20,000,000 07/27/00
07/07/00 CHASE MANHATTAN BANK 15,100,000 07/21/00
07/10/00 CHASE MANHATTAN BANK 23,200,000 07/21/00
07/12/00 BANCA POPOLARE DI MILANO 3,500,000 08/02/00
07/14/00 MELLON BANK 2,000,000 07/21/00
07/19/00 CHASE MANHATTAN BANK 2,400,000 07/20/00
07/20/00 CHASE MANHATTAN BANK 2,500,000 08/03/00
07/21/00 SUMITOMO BANK 20,300,000 08/04/00
07/21/00 SUMITOMO BANK 20,000,000 07/28/00
07/27/00 SUMMIT BANK 20,000,000 08/11/00
07/28/00 CHASE MANHATTAN BANK 20,200,000 08/18/00
08/01/00 CHASE MANHATTAN BANK 6,300,000 08/07/00
08/02/00 CHASE MANHATTAN BANK 3,200,000 08/23/00
08/03/00 CHASE MANHATTAN BANK 2,500,000 08/18/00
08/04/00 CHASE MANHATTAN BANK 20,400,000 08/17/00
08/07/00 SUMMIT BANK 6,300,000 08/21/00
08/11/00 SUMMIT BANK 20,100,000 09/01/00
08/15/00 SUMITOMO BANK 2,800,000 08/29/00
08/15/00 SUMMIT BANK 5,800,000 08/29/00
08/17/00 MERCHANTS OF BANGOR 2,000,000 09/07/00
08/17/00 SUMITOMO BANK 20,000,000 08/24/00
08/18/00 CHASE MANHATTAN BANK 22,700,000 09/08/00
08/21/00 CHASE MANHATTAN BANK 6,300,000 09/05/00
08/23/00 CHASE MANHATTAN BANK 3,200,000 09/06/00
08/24/00 SUMITOMO BANK 20,100,000 08/29/00
08/29/00 SUMITOMO BANK 22,800,000 09/05/00
08/29/00 SUMMIT BANK 5,800,000 09/19/00
08/30/00 ALLFIRST BANK 15,000,000 09/19/00
08/30/00 CHASE MANHATTAN BANK 8,900,000 09/13/00
08/30/00 SUMITOMO BANK 3,200,000 09/06/00
08/31/00 CHASE MANHATTAN BANK 4,100,000 09/06/00
09/01/00 SUMMIT BANK 20,100,000 09/22/00
09/05/00 BANCA POPOLARE DI MILANO 6,400,000 10/05/00
09/05/00 SUMITOMO BANK 22,800,000 09/26/00
09/06/00 CHASE MANHATTAN BANK 7,300,000 10/04/00
09/06/00 SUMITOMO BANK 3,200,000 09/13/00
09/07/00 BANCA POPOLARE DI MILANO 2,100,000 10/05/00
09/08/00 CHASE MANHATTAN BANK 22,700,000 10/06/00
09/08/00 MERCHANTS OF BANGOR 200,000 10/06/00
09/13/00 SUMITOMO BANK 10,800,000 09/14/00
09/14/00 SUMITOMO BANK 14,900,000 09/15/00
09/15/00 SUMITOMO BANK 12,400,000 09/18/00
09/15/00 SUMMIT BANK 4,100,000 10/05/00
09/18/00 SUMITOMO BANK 11,400,000 09/22/00
09/19/00 ALLFIRST BANK 15,000,000 10/03/00
09/19/00 SUMMIT BANK 5,800,000 09/27/00
09/22/00 SUMITOMO BANK 11,300,000 09/25/00
-10-
<PAGE>
GPU cont'd
----------
Issue
Date Bank Amount Maturity
---- ---- ------ --------
09/22/00 SUMMIT BANK 20,100,000 10/13/00
09/25/00 FIRST UNION NATIONAL BANK 11,000,000 10/10/00
09/26/00 SUMITOMO BANK 22,000,000 09/29/00
09/27/00 MERCHANTS OF BANGOR 600,000 10/17/00
09/27/00 SUMMIT BANK 5,800,000 10/04/00
09/29/00 BANCA POPOLARE DI MILANO 1,900,000 10/02/00
09/29/00 FIRST UNION NATIONAL BANK 12,100,000 10/13/00
09/29/00 FIRST UNION NATIONAL BANK 7,000,000 10/06/00
JCP&L
-----
Issue
Date Bank Amount Maturity
---- ---- ------ --------
08/01/00 CHASE MANHATTAN BANK 3,000,000 08/02/00
08/08/00 MELLON BANK 6,000,000 08/25/00
08/21/00 CHASE MANHATTAN BANK 7,300,000 09/05/00
08/21/00 SUMMIT BANK 14,100,000 09/11/00
08/25/00 MELLON BANK 10,000,000 09/08/00
09/01/00 BANK OF NEW YORK 5,000,000 09/05/00
09/05/00 BANCA POPOLARE DI MILANO 4,400,000 10/05/00
09/08/00 MELLON BANK 20,000,000 09/28/00
09/20/00 BANK OF NEW YORK 3,000,000 09/21/00
09/20/00 CHASE MANHATTAN BANK 21,100,000 09/21/00
09/20/00 PNC BANK 11,800,000 10/11/00
09/21/00 BANK OF NEW YORK 16,000,000 09/22/00
09/22/00 SUMITOMO BANK 4,200,000 09/25/00
09/28/00 MELLON BANK 12,500,000 10/19/00
Met-Ed
------
Issue
Date Bank Amount Maturity
---- ---- ------ --------
07/03/00 CHASE MANHATTAN BANK 6,100,000 07/05/00
07/03/00 MELLON BANK 11,200,000 07/14/00
07/03/00 SUMITOMO BANK 18,800,000 07/17/00
07/05/00 BANCA POPOLARE DI MILANO 3,700,000 07/12/00
07/14/00 MELLON BANK 11,100,000 07/19/00
07/17/00 CHASE MANHATTAN BANK 21,500,000 07/24/00
07/17/00 MELLON BANK 5,500,000 07/28/00
07/17/00 SUMMIT BANK 20,000,000 07/31/00
07/24/00 CHASE MANHATTAN BANK 8,000,000 07/26/00
07/26/00 CHASE MANHATTAN BANK 3,000,000 08/09/00
07/28/00 MELLON BANK 3,800,000 08/04/00
07/31/00 BANCA POPOLARE DI MILANO 1,500,000 08/08/00
-11-
<PAGE>
Met-Ed cont'd
-------------
Issue
Date Bank Amount Maturity
---- ---- ------ --------
07/31/00 SUMMIT BANK 20,000,000 08/07/00
08/01/00 CHASE MANHATTAN BANK 5,000,000 08/10/00
08/02/00 MELLON BANK 7,000,000 08/04/00
08/07/00 MELLON BANK 14,000,000 08/18/00
08/09/00 CHASE MANHATTAN BANK 4,100,000 08/18/00
08/10/00 SUMMIT BANK 7,800,000 08/21/00
08/18/00 MELLON BANK 10,000,000 08/25/00
08/21/00 CHASE MANHATTAN BANK 4,100,000 08/23/00
08/21/00 SUMITOMO BANK 26,400,000 08/28/00
08/25/00 MELLON BANK 10,000,000 09/07/00
08/28/00 SUMITOMO BANK 24,000,000 09/11/00
09/01/00 BANK OF NEW YORK 10,300,000 09/05/00
09/05/00 BANCA POPOLARE DI MILANO 8,800,000 10/05/00
09/11/00 SUMITOMO BANK 3,400,000 09/12/00
09/11/00 SUMMIT BANK 10,000,000 10/02/00
09/11/00 SUMMIT BANK 4,100,000 09/12/00
09/12/00 SUMITOMO BANK 2,000,000 09/13/00
09/12/00 SUMMIT BANK 1,000,000 09/13/00
09/13/00 SUMITOMO BANK 4,000,000 09/14/00
09/14/00 SUMITOMO BANK 2,000,000 09/15/00
09/15/00 SUMITOMO BANK 7,700,000 09/18/00
09/18/00 SUMITOMO BANK 12,100,000 09/22/00
09/19/00 BANCA POPOLARE DI MILANO 6,400,000 10/02/00
09/20/00 PNC BANK 10,400,000 10/11/00
09/20/00 PNC BANK 15,000,000 09/28/00
09/22/00 SUMITOMO BANK 5,000,000 09/25/00
09/25/00 SUMITOMO BANK 3,000,000 09/26/00
09/28/00 MELLON BANK 7,500,000 10/19/00
09/29/00 BANK OF NEW YORK 6,000,000 10/02/00
Penelec
-------
Issue
Date Bank Amount Maturity
---- ---- ------ --------
07/03/00 MELLON BANK 8,800,000 07/14/00
07/14/00 MELLON BANK 1,400,000 07/19/00
07/19/00 CHASE MANHATTAN BANK 8,700,000 07/20/00
07/19/00 MELLON BANK 12,500,000 07/20/00
07/20/00 CHASE MANHATTAN BANK 8,500,000 07/27/00
07/20/00 CHASE MANHATTAN BANK 9,000,000 07/21/00
07/20/00 MELLON BANK 12,500,000 07/21/00
07/21/00 MELLON BANK 14,500,000 07/26/00
07/21/00 SUMITOMO BANK 4,900,000 07/28/00
07/26/00 CHASE MANHATTAN BANK 4,900,000 07/27/00
07/27/00 MELLON BANK 11,500,000 08/02/00
-12-
<PAGE>
Penelec cont'd
--------------
Issue
Date Bank Amount Maturity
---- ---- ------ --------
07/28/00 MELLON BANK 3,900,000 08/04/00
07/31/00 CHASE MANHATTAN BANK 6,100,000 08/02/00
08/01/00 CHASE MANHATTAN BANK 2,500,000 08/07/00
08/02/00 BANK OF NEW YORK 32,000,000 08/03/00
08/02/00 CHASE MANHATTAN BANK 35,700,000 08/03/00
08/03/00 CHASE MANHATTAN BANK 10,900,000 08/04/00
08/04/00 MELLON BANK 20,000,000 08/07/00
08/18/00 MELLON BANK 3,500,000 08/25/00
09/01/00 FIRST UNION NATIONAL BANK 4,300,000 09/06/00
09/19/00 SUMITOMO BANK 3,700,000 09/27/00
09/20/00 PNC BANK 7,800,000 10/11/00
09/20/00 PNC BANK 10,000,000 09/25/00
09/25/00 SUMITOMO BANK 6,000,000 09/26/00
09/26/00 FIRST UNION NATIONAL BANK 2,900,000 10/10/00
09/27/00 SUMITOMO BANK 2,400,000 09/28/00
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 July 1, 2000 through September 30, 2000, the
Companies repaid unsecured promissory notes issued to banks, as follows:
GPU
---
Date Bank Amount
---- ---- ------
07/06/00 SUMMIT BANK 20,000,000
07/07/00 ALLFIRST BANK 15,000,000
07/10/00 SUMITOMO BANK 23,100,000
07/12/00 BANCA POPOLARE DI MILANO 3,500,000
07/14/00 MERCHANTS OF BANGOR 1,800,000
07/20/00 CHASE MANHATTAN BANK 2,400,000
07/21/00 CHASE MANHATTAN BANK 15,100,000
07/21/00 CHASE MANHATTAN BANK 23,200,000
07/21/00 MELLON BANK 2,000,000
07/27/00 SUMMIT BANK 20,000,000
07/28/00 SUMITOMO BANK 20,000,000
08/02/00 BANCA POPOLARE DI MILANO 3,500,000
08/03/00 CHASE MANHATTAN BANK 2,500,000
08/04/00 SUMITOMO BANK 20,300,000
08/07/00 CHASE MANHATTAN BANK 6,300,000
-13-
<PAGE>
GPU cont'd
----------
Date Bank Amount
---- ---- ------
08/11/00 SUMMIT BANK 20,000,000
08/17/00 CHASE MANHATTAN BANK 20,400,000
08/18/00 CHASE MANHATTAN BANK 20,200,000
08/18/00 CHASE MANHATTAN BANK 2,500,000
08/21/00 SUMMIT BANK 6,300,000
08/23/00 CHASE MANHATTAN BANK 3,200,000
08/24/00 SUMITOMO BANK 20,000,000
08/29/00 SUMITOMO BANK 20,100,000
08/29/00 SUMITOMO BANK 2,800,000
08/29/00 SUMMIT BANK 5,800,000
09/01/00 SUMMIT BANK 20,100,000
09/05/00 CHASE MANHATTAN BANK 6,300,000
09/05/00 SUMITOMO BANK 22,800,000
09/06/00 CHASE MANHATTAN BANK 3,200,000
09/06/00 CHASE MANHATTAN BANK 4,100,000
09/06/00 SUMITOMO BANK 3,200,000
09/07/00 MERCHANTS OF BANGOR 2,000,000
09/08/00 CHASE MANHATTAN BANK 22,700,000
09/13/00 CHASE MANHATTAN BANK 8,900,000
09/13/00 SUMITOMO BANK 3,200,000
09/14/00 SUMITOMO BANK 10,800,000
09/15/00 SUMITOMO BANK 14,900,000
09/18/00 SUMITOMO BANK 12,400,000
09/19/00 ALLFIRST BANK 15,000,000
09/19/00 SUMMIT BANK 5,800,000
09/22/00 SUMITOMO BANK 11,400,000
09/22/00 SUMMIT BANK 20,100,000
09/25/00 SUMITOMO BANK 11,300,000
09/26/00 SUMITOMO BANK 22,800,000
09/27/00 SUMMIT BANK 5,800,000
09/29/00 SUMITOMO BANK 22,000,000
JCP&L
-----
Date Bank Amount
---- ---- ------
08/02/00 CHASE MANHATTAN BANK 3,000,000
08/25/00 MELLON BANK 6,000,000
09/05/00 BANK OF NEW YORK 5,000,000
09/05/00 CHASE MANHATTAN BANK 7,300,000
09/08/00 MELLON BANK 10,000,000
09/11/00 SUMMIT BANK 14,100,000
09/21/00 BANK OF NEW YORK 3,000,000
09/21/00 CHASE MANHATTAN BANK 21,100,000
09/22/00 BANK OF NEW YORK 16,000,000
09/25/00 SUMITOMO BANK 4,200,000
09/28/00 MELLON BANK 20,000,000
-14-
<PAGE>
Met-Ed
------
Date Bank Amount
---- ---- ------
07/03/00 MELLON BANK 12,000,000
07/03/00 MELLON BANK 8,000,000
07/05/00 CHASE MANHATTAN BANK 6,100,000
07/10/00 MERCHANTS BANK OF BANGOR 200,000
07/10/00 SUMITOMO BANK 3,500,000
07/12/00 BANCA POPOLARE DI MILANO 3,700,000
07/14/00 MELLON BANK 11,200,000
07/17/00 CHASE MANHATTAN BANK 30,000,000
07/17/00 SUMITOMO BANK 18,800,000
07/19/00 MELLON BANK 11,100,000
07/24/00 CHASE MANHATTAN BANK 21,500,000
07/26/00 CHASE MANHATTAN BANK 8,000,000
07/28/00 MELLON BANK 5,500,000
07/31/00 SUMMIT BANK 20,000,000
08/04/00 MELLON BANK 3,800,000
08/04/00 MELLON BANK 7,000,000
08/07/00 SUMMIT BANK 20,000,000
08/08/00 BANCA POPOLARE DI MILANO 1,500,000
08/09/00 CHASE MANHATTAN BANK 3,000,000
08/10/00 CHASE MANHATTAN BANK 5,000,000
08/18/00 CHASE MANHATTAN BANK 4,100,000
08/18/00 MELLON BANK 14,000,000
08/21/00 SUMMIT BANK 7,800,000
08/23/00 CHASE MANHATTAN BANK 4,100,000
08/25/00 MELLON BANK 10,000,000
08/28/00 SUMITOMO BANK 26,400,000
09/05/00 BANK OF NEW YORK 10,300,000
09/07/00 MELLON BANK 10,000,000
09/11/00 SUMITOMO BANK 24,000,000
09/12/00 SUMITOMO BANK 3,400,000
09/12/00 SUMMIT BANK 4,100,000
09/13/00 SUMITOMO BANK 2,000,000
09/13/00 SUMMIT BANK 1,000,000
09/14/00 SUMITOMO BANK 4,000,000
09/15/00 SUMITOMO BANK 2,000,000
09/18/00 SUMITOMO BANK 7,700,000
09/22/00 SUMITOMO BANK 12,100,000
09/25/00 SUMITOMO BANK 5,000,000
09/26/00 SUMITOMO BANK 3,000,000
09/28/00 PNC BANK 15,000,000
Penelec
-------
Date Bank Amount
---- ---- ------
07/10/00 SUMITOMO BANK 4,600,000
07/14/00 MELLON BANK 8,800,000
07/19/00 MELLON BANK 1,400,000
-15-
<PAGE>
Penelec cont'd
--------------
Date Bank Amount
---- ---- ------
07/20/00 CHASE MANHATTAN BANK 8,700,000
07/20/00 MELLON BANK 12,500,000
07/21/00 CHASE MANHATTAN BANK 9,000,000
07/21/00 MELLON BANK 12,500,000
07/26/00 MELLON BANK 14,500,000
07/27/00 CHASE MANHATTAN BANK 4,900,000
07/27/00 CHASE MANHATTAN BANK 8,500,000
07/28/00 SUMITOMO BANK 4,900,000
08/02/00 CHASE MANHATTAN BANK 6,100,000
08/02/00 MELLON BANK 11,500,000
08/03/00 BANK OF NEW YORK 32,000,000
08/03/00 CHASE MANHATTAN BANK 35,700,000
08/04/00 CHASE MANHATTAN BANK 10,900,000
08/04/00 MELLON BANK 3,900,000
08/07/00 CHASE MANHATTAN BANK 2,500,000
08/07/00 MELLON BANK 20,000,000
08/25/00 MELLON BANK 3,500,000
09/06/00 FIRST UNION NATIONAL BANK 4,300,000
09/25/00 PNC BANK 10,000,000
09/26/00 SUMITOMO BANK 6,000,000
09/27/00 SUMITOMO BANK 3,700,000
09/28/00 SUMITOMO BANK 2,400,000
To summarize the above transactions, at September 30, 2000 the GPU
Companies had outstanding unsecured promissory notes pursuant to informal bank
lines of credit as follows:
GPU $ 116,300,000
JCP&L 28,700,000
Met-Ed 49,100,000
Penelec 10,700,000
-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: October 10, 2000
-17-
