SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Rule 13e-3 Transaction Statement
(Pursuant to Section 13(e) of the Securities Exchange Act of 1934)
(Amendment No. 2)
INDIANAPOLIS POWER & LIGHT COMPANY
(Name of Issuer)
IPALCO ENTERPRISES, INC.
(Name of Person Filing Statement)
Title CUSIP Number
Cumulative Preferred Stock
- 4% Series 455434 20 9
- 4.20% Series 455434 88 6
- 4.60% Series 455434 40 7
- 4.80% Series 455434 80 3
- 6% Series 455434 30 8
- 8.20% Series 455434 60 5
(Title and CUSIP Number of Class of Securities)
Bryan G. Tabler, Esq.
Vice President, Secretary and General Counsel
IPALCO Enterprises, Inc.
One Monument Circle
Indianapolis, Indiana 46204
(317) 261-5134
with a copy to:
Steven W. Thornton, Esq.
Barnes & Thornburg
11 South Meridian Street
Indianapolis, Indiana 46204
(317) 231-7292
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications on Behalf of the Person Filing Statement)
This statement is filed in connection with (check the appropriate box):
a. [X] The filing of solicitation materials or an information statement
subject to Regulation 14A [17 CFR 240.14a-1 to 240.14b-1], Regulation
14C [17 CFR 240.14c-1 to 240.14c-101] or Rule 13e-3 (c)
[Sec. 240.13e-3(c)] under the Securities Exchange Act of 1934.
b. [ ] The filing of a registration statement under the Securities Act of
1933.
c. [X] A tender offer.
d. [ ] None of the above.
Check the following box if the soliciting materials or information statement
referred to in checking box (a) are preliminary copies: [ ]
Calculation of Filing Fee
Transaction Valuation* Amount of Filing Fee
$47,862,150.00 $9,572.43
* Solely for purposes of calculating the filing fee and computed pursuant to
Section 13(e)(3) of the Securities Exchange Act of 1934, as amended, and Rule
0-11(b)(1) thereunder, the transaction value equals the total amount of funds,
excluding fees and other expenses, required to purchase all outstanding shares
of each class of securities listed above pursuant to the Offer described in the
Offer to Purchase and Proxy Statement referenced herein.
[X] Check box if any part of the fee is offset as provided by Rule
0-11(a)(2) and identify the filing with which the offsetting fee was
previously paid. Identify the previous filing by registration statement
number, or the form or schedule and the date of its filing.
Amount Previously Paid: $9,572.43
Form or Registration No.: Schedule 13E-3/A
Filing Party: IPALCO Enterprises, Inc.
Date Filed: August 29, 1997
<PAGE>
This Amendment No. 2 (the "Statement") amends and supplements the Rule
13e-3 Transaction Statement, as amended, dated August 29, 1997, and filed by
IPALCO Enterprises, Inc., an Indiana corporation ("IPALCO"), relating to the
offer by IPALCO, pursuant to its Offer to Purchase and Proxy Statement, dated
August 29, 1997 (the "Offer to Purchase and Proxy Statement"), to purchase any
and all of the outstanding shares of each of the following series of the
Cumulative Preferred Stock, $100 par value (each a "Series of Preferred"), of
Indianapolis Power & Light Company, an Indiana corporation and direct subsidiary
of IPALCO ("IPL"):
4% Series of Preferred, at a purchase price of $71.38 per share, net to the
seller in cash;
4.20% Series of Preferred, at a purchase price of $77.72 per share, net to the
seller in cash;
4.60% Series of Preferred, at a purchase price of $85.12 per share, net to the
seller in cash;
4.80% Series of Preferred, at a purchase price of $88.82 per share, net to the
seller in cash;
6% Series of Preferred, at a purchase price of $103.00 per share, net to the
seller in cash; and
8.20% Series of Preferred, at a purchase price of $102.00 per share, net to the
seller in cash.
Only those items of the Statement that are amended and supplemented
hereby are included herein. Unless otherwise defined herein, all capitalized
terms shall have the respective meanings ascribed to them in the Statement.
The cross reference sheet below is being supplied pursuant to General
Instruction F to Schedule 13E-3 and shows the location of the information
required to be included in response to the items of this Statement in the Issuer
Tender Offer Statement on Schedule 13E-4 (Amendment No. 1) (the "Schedule
13E-4") filed by IPALCO with the Securities and Exchange Commission (the
"Commission") on August 29, 1997. The information set forth in the Schedule
13E-4 is expressly incorporated herein by reference and responses to each item
herein are qualified in their entirety by the corresponding responses in the
Schedule 13E-4.
Location in Item in Schedule 13E-3 Schedule 13E-4
Item l(a)........................................................ Item l(a)
Item l(b)........................................................ Item l(b)
Item l(c)........................................................ Item l(c)
Item l(d)........................................................ *
Item l(e)........................................................ *
Item l(f)........................................................ *
Item 2(a)........................................................ *
Item 2(b)........................................................ *
Item 2(c)........................................................ *
Item 2(d)........................................................ *
Item 2(e)........................................................ *
Item 2(f)........................................................ *
Item 2(g)........................................................ *
Item 3(a)(1)..................................................... *
Item 3(a)(2)..................................................... *
Item 3(b)........................................................ *
Item 4(a)........................................................ *
Item 4(b)........................................................ *
Item 5(a)........................................................ Item 3(b)
Item 5(b)........................................................ Item 3(c)
Item 5(c)........................................................ Item 3(d)
Item 5(d)........................................................ Item 3(e)
Item 5(e)........................................................ Item 3(f)
Item 5(f)........................................................ Item 3(i)
Item 5(g)........................................................ Item 3(j)
Item 6(a)........................................................ Item 2(a)
Item 6(b)........................................................ *
Item 6(c)........................................................ Item 2(b)
Item 6(d)........................................................ *
Item 7(a)........................................................ Item 3
Item 7(b)........................................................ *
Item 7(c)........................................................ *
Item 7(d)........................................................ *
Item 8(a)........................................................ *
Item 8(b)........................................................ *
Item 8(c)........................................................ *
Item 8(d)........................................................ *
Item 8(e)........................................................ *
Item 8(f)........................................................ *
Item 9(a)........................................................ *
Item 9(b)........................................................ *
Item 9(c)........................................................ *
Item 10(a)....................................................... *
Item 10(b)....................................................... *
Item 11 ........................................................ Item 5
Item 12(a) ...................................................... *
Item 12(b) ...................................................... *
Item 13(a) ...................................................... *
Item 13(b) ...................................................... *
Item 13(c) ...................................................... *
Item 14(a) ...................................................... Item 7(a)
Item 14(b) ...................................................... Item 7(b)
Item 15(a) ...................................................... *
Item 15(b) ...................................................... Item 6
Item 16 ...................................................... Item 8(e)
Item 17(a) ...................................................... Item 9(b)
Item 17(b) ...................................................... *
Item 17(c) ...................................................... Item 9(c)
Item 17(d) ...................................................... Item 9(a)
Item 17(e) ...................................................... *
Item 17(f) ...................................................... Item 9(f)
- ------------
* The Item is located in the Schedule 13E-3 only.
Item 1. Issuer and Class of Security Subject to the Transaction.
Item 1 of the Statement is hereby amended and supplemented by adding
thereto the following:
The Offer expired at 5:00 p.m., New York City time, on October 8, 1997
in accordance with its terms. On October 17, 1997, IPALCO purchased the Shares
validly tendered pursuant to the Offer by depositing the aggregate purchase
price therefor with the Depositary. The Shares so purchased, and purchase price
therefor, for each Series of Preferred are as follows:
Number of
Series of Preferred Shares Purchased Purchase Price
- ------------------- ---------------- --------------
Cumulative Preferred Stock:
- 4% Series 52,389 $3,739,526.82
- 4.20% Series 19,669 $1,528,674.68
- 4.60% Series 27,519 $2,342,417.28
- 4.80% Series 27,870 $2,475,413.40
- 6% Series 59,200 $6,097,600.00
- 8.20% Series 65,828 $6,714,456.00
Item 5. Plans or Proposals of the Issuer or Affiliate.
Item 5 of the Statement is hereby amended and supplemented by adding
thereto the following:
IPALCO and IPL anticipate that the Shares purchased by IPALCO pursuant
to the Offer will be transferred for value to IPL and will be deemed authorized
but unissued shares.
In addition, pursuant to Article 6A, Section 4(c) of IPL's Articles, it
is the current intention of IPL to redeem all the remaining outstanding Shares
of the 6% Series and the 8.20% Series at a redemption price per share of $102.00
and $101.00, respectively.
Item 6. Source and Amount of Funds or Other Consideration.
Item 6 of the Statement is hereby amended and supplemented by adding
thereto the following:
The total amount required by IPALCO to purchase the Shares pursuant to
the Offer was $22,898,088.18, excluding fees and other expenses. The source of
such amount was borrowings under an existing $401 Million Revolving Credit
Facility (the "Revolver") with a syndicate of banks, led by Bank One, Indiana,
N.A. The Revolver matures on March 31, 2002. Interest is payable monthly and is
based on a spread over LIBOR. In conjunction with the Revolver, IPALCO entered
into an interest rate swap agreement which fixed the interest rate on $300
million of the Revolver. Pursuant to the swap agreement, which matures April 1,
2001, IPALCO will pay interest at a fixed rate of 6.3575% to a swap counter
party and will receive a variable rate of interest in return based on the one
month LIBOR. The result is to effectively establish an approximate interest rate
of 6.7% on $300 million of the Revolver. IPALCO's borrowings under the Revolver
will be repaid through a dividend from IPL, which expects to derive its funds
from internally generated funds, the liquidation of temporary investments and
the issuance of short-term debt.
Item 9. Material to be Filed as Exhibits.
Exhibit No. Description
----------- -----------
(d)(10) Press Release, dated October 9, 1997
<PAGE>
SIGNATURE
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: October 17, 1997 IPALCO ENTERPRISES, INC.
By: /s/ Bryan G. Tabler
------------------------------
Bryan G. Tabler, Vice President,
Secretary and General Counsel
IPALCO
ENTERPRISES
One Monument Circle, P.O. Box 1595, Indianapolis, Indiana 46206-1594
World Wide Web: http://www.ipalco.com
N E W S R E L E A S E
Media Contact: Marni Lemons (317) 261-8219
[email protected]
Investor Contact: Jennifer Kent Zimmer (212) 332-2485
[email protected]
IPL'S ARTICLES AMENDMENT ADOPTED;
IPALCO TENDER OFFER FOR IPL PREFERRED STOCK IS SUCCESSFUL
INDIANAPOLIS, October 9, 1997 - An amendment to the articles of incorporation of
Indianapolis Power & Light Company ("IPL") was adopted today at a special
meeting of shareholders. The amendment removes a provision of the articles that
limits IPL's ability to issue unsecured debt, including short-term debt.
IPALCO Enterprises, Inc. (NYSE:IPL) ("IPALCO"), the parent holding company and
sole holder of common stock of IPL, voted all of its shares in favor of the
amendment and the holders of preferred stock approved the amendment by the
required two-thirds vote by casting at least 77% in favor of the amendment.
Concurrently with the solicitation of proxies for the special meeting, IPALCO
commenced an offer to purchase for cash the outstanding shares of preferred
stock of IPL. The tender offer, which expired yesterday at 5:00 p.m., New York
City time, was conditioned upon, among other things, the proposed amendment
being approved and adopted at the special meeting. Preliminary results indicate
that approximately 46% of the 518,985 outstanding shares of preferred stock were
tendered.
Indianapolis Power & Light Company is a subsidiary of IPALCO Enterprises, Inc.,
a multi-state energy company providing a variety of energy products and
services. IPL provides retail electric service to approximately 415,000
residential, commercial and industrial customers in Indianapolis and portions of
other Central Indiana counties.
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