SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-6B-2
Certificate of Notification
Certificate is filed by: North Atlantic Energy Corporation
This certificate is notice that the above-named company has issued,
renewed or guaranteed the security or securities described herein which
issue, renewal or guaranty was exempted from the provisions of Section 6(a)
of the Act and was neither the subject of a declaration or application on
Form U-1 nor included within the exemption provided by Rule U-48.
1. Type of the security or securities:
Interest rate collar in the notional amount of $75,000,000 replacing a
like notional amount of cancelable interest rate swaps, issued in connection
with the company's $225,000,000 Term Credit Agreement, dated September 27,
1995.
2. Issue, renewal or guaranty:
Issue
3. Principal amount of each security:
$75,000,000 aggregate principal amount
4. Rate of interest per annum of each security:
Collar with a cap set at 6.26 percent and a floor set at 5.585 percent.
5. Date of issue, renewal or guaranty of each security:
June 10, 1999
6. If renewal of security, give date of original issue:
Original interest rate swaps were issued as of
December 11, 1995.
7. Date of maturity of each security:
November 9, 2000
8. Name of the person to whom each security was issued, renewed or
guaranteed:
Barclays Bank PLC
9. Collateral given with each security, if any:
Not applicable
10. Consideration received for each security:
None - exchange of interest payment commitments above or below collar.
11. Application of proceeds of each security:
Not applicable
12. Indicate by a check after the applicable statement below whether the
issue, renewal or guaranty of each security was exempt from the
provisions of Section 6(a) because of:
a. the provisions contained in the first sentence of
Section 6(b):
Not applicable
b. the provisions contained in the fourth sentence of
Section 6(b):
Not applicable
c. the provisions contained in any rule of the Commission other than
Rule U-48:
X
13. If the security or securities were exempt from the provisions of
Section 6(a) by virtue of the first sentence of Section 6(b), give the
figures which indicate that the security or securities aggregate
(together with all other than outstanding notes and drafts of a
maturity of nine months or less, exclusive of days of grace, as to
which such company is primarily or secondarily liable) not more than
5 per centum of the principal amount and par value of the other
securities of such company then outstanding. (Demand notes,
regardless of how long they may have been outstanding, shall be
considered as maturing in not more than nine months for purposes of
the exemption from Section 6(a) of the Act granted by the first
sentence of Section 6(b).)
Not applicable
14. If the security or securities are exempt from the provisions of
Section 6(a) because of the fourth sentence of Section 6(b), name the
security outstanding on January 1, 1935, pursuant to the terms of
which the security or securities herein described have been
issued:
Not applicable
15. If the security or securities are exempt from the provisions of
Section 6(a) because of any rule of the Commission other than
Rule U-48, designate the rule under which exemption is claimed:
Rule 52
NORTH ATLANTIC ENERGY CORPORATION
By /s/Randy A. Shoop
Randy A. Shoop
Assistant Treasurer - Finance
Date: June 18, 1999
