UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
- ----------------------------------------------
In the matter of
CSW International, Inc. REPORT FOR PERIOD
Dallas, Texas 75266-0789 July 1, 1996 to
September 30, 1996
File No. 070-8423 PURSUANT TO RULE 24
This report is filed under Rule 24 of the Public Utility Holding Company
Act of 1935 by CSW International, Inc. ("CSW International"), a wholly owned
subsidiary of Central and South West Corporation ("CSW"). Under HCAR 35-26383,
CSW International is authorized to participate in foreign utility companies and
exempt wholesale generators and to provide consulting services with respect to
the same. Attached is the information required pursuant to HCAR 35-26383.
(1) Information on each investment made by CSWI, directly or indirectly, in any
other project parent, indicating the amount and type of such investment and
identifying the facility with respect to which such project parent was
organized. See Exhibit A.
(2) Information about the amount, type, and terms of securities (including
interest rate, maturity, and the basis for inflation adjustment in the
case of non-recoursindebtedness denominated in any currency other than
U.S. dollars) issued by any project parent to a third person. See
Exhibit B.
(3) A balance sheet as of the relevant report date. See Exhibit C.
(4) An income statement for the quarter ended. See Exhibit D.
(5) Information on intercompany transactions with CSW International related
to CSW International's consulting services, including (a) the name of
each associate company providing services, (b) a listing of services
provided, (c) the total dollar amount of services provided, broken down
by associate company, and (d) the aggregate outstanding amount, as of
the relevant quarterly reporting date, of all guarantees issued by or
for the account of CSW, CSWI, or any project parent pursuant to this
application declaration. See Exhibit E.
<PAGE>
S I G N A T U R E
As requested by order of this Commission pursuant to the Public Utility
Holding Company Act of 1935, CSW International, Inc. has duly caused this report
to be signed on its behalf on this 21st day of November, 1996.
CSW International, Inc.
EDDIE PEEBLES
Eddie Peebles
Controller
<TABLE>
CSW International, Inc.
Investments in Project Parents
September 30, 1996
(thousands)
<CAPTION>
Project Wholly Owned
Facility Parent Subsidiary Of Description Investment
- ---------------------- ----------------------------- ------------------------------- -------------------------- -------------
<S> <C> <C> <C> <C>
SEEBOARD plc CSW International, Inc. Central and South West Corp. Additional Paid-in-Capital $829,000
SEEBOARD plc CSW International Two, Inc. CSW International, Inc. Additional Paid-in-Capital 829,000
SEEBOARD plc CSW International Three, Inc. CSW International, Inc. Not Applicable 0
SEEBOARD plc CSW UK Investments CSW International Two, Inc. and AdditionalaPaid-in-Capital 829,000
CSW International Three, Inc.
SEEBOARD plc CSW (UK) plc CSW UK Investments Additional Paid-in-Capital 829,000
Enerteck, S.A. de C.V. CSW International, Inc. Central and South West Corp. Construction Loan 14,188
</TABLE>
CSW International, Inc.
Non-recourse Indebtedness
September 30, 1996
(thousands)
Inflation
Type Term Rate Maturity Adjustment Amount (pounds)
- ------------------- --------- -------- ----------- ---------- ---------------
Bank Facility 31 days 6.27% 10/28/96 None 436,627
Bank Facility 31 days 6.26% 10/31/96 None 30,000
Yankee Bond 5 years 7.98% 2001 None 129,116
Yankee Bond 10 years 8.75% 2006 None 129,116
Eurosterling Bond 10 years 8.88% 2006 None 100,000
Loan Notes NA 5.10% 10/2/02 None 62,084
CSW International, Inc.
Balance Sheet
September 30, 1996
(Unaudited)
($000's)
ASSETS
CURRENT ASSETS
Cash $ 398,765
Marketable Securities 12,104
Accounts Receivable 276,293
-------------
687,162
NONCURRENT ASSETS
Equity Investments 47,047
Fixed Assets, net 884,905
Goodwill 1,373,791
Deferred Charges and Other 207,390
-------------
2,513,133
TOTAL $ 3,200,295
=============
LIABILITIES AND EQUITY
LIABILITIES
Accounts Payable and Other $ 270,551
Borrowings from CSW Corp. 53,502
Long Term Debt 1,568,411
Other Liabilities 163,077
Accumulated Deferred Income Taxes 263,061
-------------
2,318,602
EQUITY
Common Stock 1
Paid in Capital 829,000
Retained Earnings 55,373
Currency Translation Adjustment (2,681)
-------------
881,693
TOTAL $ 3,200,295
=============
CSW International, Inc.
Statement of Income
For the Quarter Ended September 30, 1996
(Unaudited)
($000's)
Income:
Sales $ 390,601
Interest Income 5,634
Other Income 1,564
-----------
Total Income 397,799
Expenses:
Cost of Goods Sold 273,440
Other Expenses 54,392
Depreciation and Amortization 21,847
Interest Expense 26,098
General and Administrative Expenses (219)
-----------
Total Expenses 375,558
Taxes 10,654
Net Income $ 11,587
===========
CSW International, Inc.
Intercompany Service Transactions
For the Quarter Ended September 30, 1996
(Unaudited)
Name Type of Service Amount
- ----------------------------- -------------------------------- -------------
CSW Energy, Inc. Salaries and overheads $491,461
(Wholly owned subsidiary of in support of CSW International,
Central and South West Inc. projects.
Corporation)
Central and South West Salaries, overheads, and travel $1,301,093
Services, Inc. (Wholly owned in support of CSW International,
subsidiary of Central and Inc. projects.
South West Corporation)
Guarantees issued by or for the account of CSW, CSWI, or any
project parent. None
