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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 January 1, 1996 to
March 31, 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-recourse
indebtedness 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.
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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 29th day of May, 1996.
CSW International, Inc.
/s/ EDDIE PEEBLES
Eddie Peebles
Controller
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EXHIBIT A
CSW International, Inc.
Investments in Project Parents
March 31, 1996
(thousands)
<TABLE>
<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
Recourse Equity Bridge Loan
SEEBOARD plc CSW International Two, Inc. CSW International, Inc. Additional Paid-in-Capital/ 829,000
Recourse Equity Bridge Loan
SEEBOARD plc CSW International Three, Inc. CSW International, Inc. Not Applicable 0
SEEBOARD plc CSW UK Investments CSW International Two, Inc. Additional Paid-in-Capital/ 829,000
Recourse Equity Bridge Loan
SEEBOARD plc CSW (UK) plc CSW UK Investments Additional Paid-in-Capital/ 829,000
Recourse Equity Bridge Loan
</TABLE>
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EXHIBIT B
CSW International, Inc.
Non-recourse Indebtedness
March 31, 1996
(thousands)
Inflation
Type Term Rate Maturity Adjustment Amount
Credit Facility 32 days 6.4151% 4/30/96 None 717,553 pounds
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EXHIBIT C
CSW International, Inc.
Balance Sheet
March 31, 1996
(Unaudited)
($000's)
03/31/96
ASSETS
CURRENT ASSETS
Cash $ 234,883
Marketable Securities 13,903
Accounts Receivable 310,303
Other Current Assets 17,718
576,807
NONCURRENT ASSETS
Equity Investments 41,121
Fixed Assets, net 924,813
Goodwill 1,354,755
Deferred Charges and Other 112,052
2,432,741
TOTAL $ 3,009,548
LIABILITIES AND EQUITY
LIABILITIES
Accounts Payable and Other $ 402,224
Borrowings from CSW Corp. 487,581
Long Term Debt 1,360,049
Other Liabilities 116,532
Accumulated Deferred Income
Taxes 244,977
2,611,363
EQUITY
Common Stock 1
Paid in Capital 398,000
Retained Earnings 24,605
Currency Translation Adjustment (24,421)
398,185
TOTAL $ 3,009,548
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EXHIBIT D
CSW International, Inc.
Statement of Income
For the Quarter Ended March 31, 1996
(Unaudited)
($000's)
03/31/96
Income:
Sales $ 536,987
Interest Income 4,694
Other Income 2,679
Total Income 544,360
Expenses:
Cost of Goods Sold 400,239
Other Expenses 49,714
Depreciation and Amortization 21,616
Outside Services 658
Taxes 15,006
Expenses Transferred Out (116)
Interest Expense 27,642
General and Administrative
Expenses 10,771
Total Expenses 525,530
Net Income $ 18,830
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EXHIBIT E
CSW International, Inc.
Intercompany Service Transactions
For the Quarter Ended March 31, 1996
(Unaudited)
<TABLE>
<CAPTION>
Name Type of Service Amount
<S> <C> <C>
Transok, Inc. Salaries, overheads, and travel $ 28,572
(Wholly owned subsidiary of in support of CSW International, Inc.
Central and South West Corporation) projects.
CSW Energy, Inc. Salaries and overheads $ 450,445
(Wholly owned subsidiary of in support of CSW International, Inc.
Central and South West Corporation) projects.
Central and South West Services, Salaries, overheads, and travel $ 6,836,294
Inc. (Wholly owned subsidiary of in support of CSW International, Inc.
Central and South West Corporation) projects.
Guarantees issued by or for the account of CSW, CSWI, or any project
parent. None
</TABLE>
