NINTH BANK LOAN CERTIFICATE OF NOTIFICATION
(Second Quarter - 1994)
Filed by
THE SOUTHERN COMPANY
ALABAMA POWER COMPANY
GEORGIA POWER COMPANY
GULF POWER COMPANY
MISSISSIPPI POWER COMPANY
SAVANNAH ELECTRIC AND POWER COMPANY
SOUTHERN ELECTRIC GENERATING COMPANY
Pursuant to orders of the Securities and Exchange Commission
dated March 31, 1992, November 30, 1993 and February 16, 1994, in
the matter of File No. 70-7937.
The Southern Company (SOUTHERN), Alabama Power Company (ALABAMA),
Georgia Power Company (GEORGIA), Gulf Power Company (GULF),
Mississippi Power Company (MISSISSIPPI) and Savannah Electric and
Power Company (SAVANNAH) hereby certify to said Commission,
pursuant to Rule 24, that, in accordance with the terms and
conditions of and for the purposes represented by the statement
on Form U-1, as amended, in the above matter and of said orders
with respect thereto, during the second quarter of 1994, the
above-mentioned companies issued or retired commercial paper,
short-term notes/bank borrowings or term loans from banks (with
maturities of up to three years from the date of borrowing) as
follows:
SOUTHERN
Total short-term notes outstanding/bank borrowings at end of
second quarter 1994 - $120,000,000.
ALABAMA
Total short-term notes outstanding/bank borrowings at end of
second quarter 1994 - $22,000,000.
GEORGIA
Total short-term notes outstanding/bank borrowings at end of
second quarter 1994 - $388,400,000.
GULF
Information filed in a separate Certificate of Notification
under File No. 70-8397.
MISSISSIPPI
Total short-term notes outstanding/bank borrowings at end of
second quarter 1994 - $93,000,000.
SAVANNAH
Total short-term notes outstanding/bank borrowings at end of
second quarter 1994 - $20,500,000. <PAGE>
ALABAMA
Commercial Paper
Issue Maturity Principal Discount
Date Date Issuer Amount Rate
04/05/94 05/10/94 Bank of America $12,050,000 3.71%
04/08/94 05/12/94 Merrill Lynch 17,059,000 3.65
04/08/94 04/29/94 Bank of America 10,000,000 3.60
04/12/94 04/26/94 Bank of America 8,015,000 3.60
04/12/94 05/12/94 Bank of America 10,050,000 3.64
04/15/94 05/06/94 Bank of America 5,150,000 3.62
04/15/94 05/20/94 Bank of America 15,000,000 3.64
04/15/94 05/27/94 Bank of America 15,000,000 3.64
04/21/94 05/17/94 Bank of America 5,015,000 3.82
04/26/94 05/26/94 First Boston 28,090,000 3.84
04/29/94 05/20/94 Bank of America 11,025,000 3.80
05/02/94 05/24/94 First Boston 30,071,000 3.85
05/02/94 06/07/94 First Boston 26,102,000 3.90
05/24/94 06/28/94 First Boston 10,000,000 4.27
05/24/94 06/30/94 Bank of America 14,065,000 4.27
05/26/94 07/08/94 Bank of America 22,115,000 4.26
05/27/94 07/05/94 Bank of America 10,050,000 4.33
05/27/94 07/12/94 Bank of America 10,060,000 4.35
05/31/94 07/15/94 Bank of America 10,055,000 4.36
06/01/94 06/02/94 Merrill Lynch 2,001,000 4.30
06/06/94 07/19/94 Merrill Lynch 15,078,000 4.31
06/06/94 07/26/94 First Boston 8,049,000 4.31
06/07/94 07/07/94 Bank of America 29,105,000 4.25
06/13/94 07/15/94 Bank of America 10,050,000 4.25
06/15/94 08/16/94 Bank of America 11,000,000 4.34
06/15/94 08/09/94 Bank of America 15,000,000 4.34
06/29/94 07/13/94 Bank of America 13,025,000 4.32
06/30/94 07/01/94 Bank of America 8,000,000 4.45
GEORGIA
Commercial Paper
Issue Maturity Principal Discount
Date Date Issuer Amount Rate
04/21/94 05/16/94 Merrill Lynch $17,000,000 3.92%
05/13/94 06/06/94 Merrill Lynch 25,000,000 4.40
05/13/94 06/06/94 Lehman Securities 25,000,000 4.40
04/07/94 06/06/94 Lehman Securities 30,000,000 3.90
06/06/94 07/19/94 Merrill Lynch 20,000,000 4.32
06/06/94 07/20/94 Merrill Lynch 20,000,000 4.32
06/06/94 07/22/94 Lehman Securities 40,000,000 4.32
05/02/94 08/01/94 Lehman Securities 25,000,000 4.35
06/13/94 08/19/94 Merrill Lynch 45,000,000 4.37
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Southern Electric Generating Company (SEGCO) hereby certifies to
said Commission, pursuant to Rule 24, that, in accordance with
the terms and conditions of and for the purposes represented by
the statement on Form U-1, as amended, in the above matter and of
said orders with respect thereto, SEGCO, during the second
quarter of 1994, on the dates indicated below, issued short-term
notes/bank borrowings or term loans from banks and other lenders
as follows:
AMSOUTH BANK OF ALABAMA, N.A.
Interest Principal
Loan Date Due Date Rate Amount
04/11/94 06/09/94 4.24% $10,000,000
06/09/94 07/12/94 4.68 10,000,000
SOUTHTRUST BANK AL., N.A.
Interest Principal
Loan Date Due Date Rate Amount
04/15/94 05/10/94 4.09 % $ 800,000
04/25/94 05/10/94 4.21 4,900,000
05/10/94 06/09/94 4.59 10,000,000
06/24/94 07/12/94 4.725 3,800,000
COMPASS BANK
Interest Principal
Loan Date Due Date Rate Amount
04/11/94 05/10/94 4.10% $10,000,000
05/10/94 06/09/94 4.875 5,000,000
05/16/94 06/09/94 4.75 200,000
05/24/94 06/09/94 4.625 3,100,000
06/09/94 07/12/94 4.6875 10,000,000
FIRST ALABAMA BANK
Interest Principal
Loan Date Due Date Rate Amount
05/10/94 08/09/94 4.75% $10,000,000
-3-<PAGE>
NATIONSBANK
Interest Principal
Loan Date Due Date Rate Amount
04/11/94 05/10/94 4.125 % $10,000,000
06/09/94 07/12/94 4.6875 10,000,000
TRUST COMPANY BANK
Interest Principal
Loan Date Due Date Rate Amount
04/11/94 05/10/94 4.125% $3,500,000
05/10/94 06/09/94 4.875 7,600,000
06/09/94 07/12/94 4.6875 3,400,000
06/15/94 08/09/94 4.6875 1,400,000
FIRST UNION NATIONAL BANK OF GEORGIA
Interest Principal
Loan Date Due Date Rate Amount
05/10/94 06/09/94 4.74% $10,000,000
06/09/94 07/12/94 4.62 10,000,000
Attached are the following exhibits:
Exhibit
A-2(a) Fifteenth Note Modification Agreement between
SEGCO and SouthTrust Bank of Alabama.
A-2(b) Tenth Note Modification Agreement between
SEGCO and Trust Company Bank.
A-2(d) First Note Modification Agreement between
SEGCO and NationsBank of Georgia, N.A.
A-2(e) Ninth Note Modification Agreement between
SEGCO and Compass Bank.
A-2(f) Seventh Note Modification Agreement between
SEGCO and First Union National Bank of
Georgia.
A-2(h) Seventh Note Modification Agreement between
SEGCO and AmSouth Bank, N.A.
A-3(c) List of lending banks, setting forth the
maximum amount to be borrowed from each by
GULF.
A-3(e) List of lending banks, setting forth the
maximum amount to be borrowed from each by
SAVANNAH.
-4-<PAGE>
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned companies have duly caused
this certificate to be signed on their behalf by the undersigned
thereunto duly authorized.
Dated: August 1, 1994
ALABAMA POWER COMPANY
By: Wayne Boston
Wayne Boston, Assistant Secretary
GEORGIA POWER COMPANY
By: Wayne Boston
Wayne Boston, Assistant Secretary
GULF POWER COMPANY
By: Wayne Boston
Wayne Boston, Assistant Secretary
MISSISSIPPI POWER COMPANY
By: Wayne Boston
Wayne Boston, Assistant Secretary
SAVANNAH ELECTRIC AND POWER COMPANY
By: Wayne Boston
Wayne Boston, Assistant Secretary
SOUTHERN ELECTRIC GENERATING COMPANY
By: Wayne Boston
Wayne Boston, Assistant Secretary
THE SOUTHERN COMPANY
By: Tommy Chisholm
Tommy Chisholm, Secretary
-5-<PAGE>
EXHIBIT A-2(a)
FIFTEENTH NOTE MODIFICATION AGREEMENT
THIS AGREEMENT, dated this 8th day of April, 1994, is
between SOUTHERN ELECTRIC GENERATING COMPANY, an Alabama
corporation ("Borrower"), and SOUTHTRUST BANK OF ALABAMA,
NATIONAL ASSOCIATION, a national banking association ("Bank").
RECITALS
Borrower is indebted to Bank pursuant to its Promissory
Note, dated December 22, 1982, executed by Borrower in favor of
Bank in the face amount of $10,000,000, as amended by the First
Note Modification Agreement dated March 22, 1984, a Second Note
Modification Agreement dated March 4, 1985, a Third Note
Modification Agreement dated June 12, 1985, a Fourth Note
Modification Agreement dated May 23, 1986, a Fifth Note
Modification Agreement dated November 13, 1986, a Sixth Note
Modification Agreement dated May 29, 1987, a Seventh Note
Modification Agreement dated May 9, 1988, and Eighth Note
Modification Agreement dated May 24, 1989, a Ninth Note
Modification Agreement dated April 2, 1990, a Tenth Note
Modification Agreement dated April 1, 1991, an Eleventh Note
Modification Agreement dated March 1, 1991, a Twelfth Note
Modification Agreement dated June 23, 1992, a Thirteenth Note
Modification dated January 4, 1993, and a Fourteenth Note
Modification dated May 3, 1993 (said Promissory Note, as so
modified, being herein called the "Note").
Borrower and Bank desire to further amend the Note as herein
provided.<PAGE>
-2-
AGREEMENT
NOW, THEREFORE, the parties agree as follows:
1. The maturity date of the Note is hereby extended from
June 30, 1995 to June 30, 1996, by deleting the words and figures
"June 30, 1995," as the same appear at the end of the first full
paragraph of the Note and inserting in lieu thereof the words and
figures "June 30, 1996."
2. Bank shall attach an executed copy of this Agreement to
the original, executed Note, and the same shall be and become a
part thereof.
3. Except as herein amended, the Note shall remain in full
force and effect, and the Note, as so amended, is hereby ratified
and affirmed.
IN WITNESS WHEREOF, Borrower and Bank have executed this
Agreement, the day and year first above written.
SOUTHERN ELECTRIC GENERATING COMPANY
By: Art P. Beattie
Its Treasurer
SOUTHTRUST BANK OF ALABAMA, NATIONAL ASSOCIATION
By: T. Knudsen
Its Senior Vice President<PAGE>
EXHIBIT A-2(b)
TENTH NOTE MODIFICATION AGREEMENT
THIS AGREEMENT, dated this 8th day of April, 1994, is
between SOUTHERN ELECTRIC GENERATING COMPANY, an Alabama
corporation ("Borrower"), and TRUST COMPANY BANK ("Bank").
RECITALS
Borrower is indebted to Bank pursuant to its Promissory
Note, dated April 15, 1986, as heretofore amended, in the face
amount of $10,000,000 ("Note").
Borrower and Bank desire to further amend the Note as herein
provided.
AGREEMENT
NOW, THEREFORE, the parties agree as follows:
1. The maturity date of the Note is hereby extended from
May 31, 1995 to May 31, 1996, by deleting the words and figures
"May 31, 1995," as the same appear at the end of the first full
paragraph of the Note and inserting in lieu thereof the words and
figures "May 31, 1996."
2. Bank shall attach an executed copy of this Agreement to
the original, executed Note, and the same shall be and become a
part thereof.
3. Except as herein and heretofore amended, the Note shall
remain in full force and effect, and the Note, as so amended, is
hereby ratified and affirmed.<PAGE>
-2-
IN WITNESS WHEREOF, Borrower and Bank have executed this
Agreement, the day and year first above written.
SOUTHERN ELECTRIC GENERATING COMPANY
By: Art P. Beattie
Its Treasurer
TRUST COMPANY BANK
By: J. Christopher Deisley
Its Vice President<PAGE>
EXHIBIT A-2(d)
FIRST NOTE MODIFICATION AGREEMENT
THIS AGREEMENT, dated this 8th day of April, 1994, is
between SOUTHERN ELECTRIC GENERATING COMPANY, an Alabama
corporation ("Borrower"), and NATIONSBANK OF GEORGIA, N.A.
("Bank").
RECITALS
Borrower is indebted to Bank pursuant to its Promissory
Note, dated January 4, 1993, as heretofore amended, executed by
Borrower in favor of Bank in the face amount $10,000,000
("Note").
Borrower and Bank desire to amend the Note as herein
provided.
AGREEMENT
NOW THEREFORE, the parties agree as follows:
1. The maturity date of the Note is hereby extended from
June 30, 1995, to June 30, 1996, by deleting the words and
figures "June 30, 1995," as the same appear at the end of the
first full paragraph of the Note and inserting in lieu thereof
the words and figures "June 30, 1996."
2. Bank shall attach an executed copy of this Agreement to
the original, executed Note, and the same shall be and become a
part thereof.
3. Except as herein amended, the Note shall remain in full
force and effect, and the Note, as so amended, is hereby ratified
and affirmed.<PAGE>
-2-
IN WITNESS WHEREOF, Borrower and Bank have executed this
Agreement, the day and year first above written.
SOUTHERN ELECTRIC GENERATING COMPANY
By: Art P. Beattie
Its Treasurer
NATIONSBANK OF GEORGIA, N.A.
By: Greg McCrary
Its Vice President<PAGE>
EXHIBIT A-2(e)
NINTH NOTE MODIFICATION AGREEMENT
THIS AGREEMENT, dated this 1st day of June, 1994, is between
SOUTHERN ELECTRIC GENERATING COMPANY, an Alabama corporation
("Borrower"), and COMPASS BANK (formerly CENTRAL BANK OF THE
SOUTH) ("Bank").
RECITALS
Borrower is indebted to Bank pursuant to its Promissory
Note, dated November 10, 1987, as heretofore amended, in the face
amount of $5,000,000 and modified on April 20, 1988, by the First
Note Modification Agreement, to $10,000,000 ("Note").
Borrower and Bank desire to further amend the Note as herein
provided.
AGREEMENT
NOW, THEREFORE, the parties agree as follows:
1. The maturity date of the Note is hereby extended from
June 1, 1995 to June 1, 1996, by deleting the words and figures
"June 1, 1995" as the same appear at the end of the first full
paragraph of the Note and inserting in lieu thereof the words and
figures "June 1, 1996."
2. Bank shall attach an executed copy of this Agreement to
the original, executed Note, and the same shall be and become a
part thereof.
3. Except as herein and heretofore amended, the Note shall
remain in full force and effect; and the Note, as so amended, is
hereby ratified and affirmed.<PAGE>
-2-
IN WITNESS WHEREOF, Borrower and Bank have executed this
Agreement, the day and year first above written.
SOUTHERN ELECTRIC GENERATING COMPANY
By: Art P. Beattie
Its Treasurer
COMPASS BANK
By: Janet Brock
Its Vice President<PAGE>
EXHIBIT A-2(f)
SEVENTH NOTE MODIFICATION AGREEMENT
THIS AGREEMENT, dated this 8th day of April, 1994, is
between SOUTHERN ELECTRIC GENERATING COMPANY, an Alabama
corporation ("Borrower"), and FIRST UNION NATIONAL BANK OF
GEORGIA ("Bank").
RECITALS
Borrower is indebted to Bank pursuant to its Promissory
Note, dated January 3, 1989, as heretofore amended, in the face
amount of $10,000,000 ("Note").
Borrower and Bank desire to further amend the Note as herein
provided.
AGREEMENT
NOW, THEREFORE, the parties agree as follows:
1. The maturity date of the Note is hereby extended from
June 30, 1995 to June 30, 1996 by deleting the words and figures
"June 30, 1995" as the same appear at the end of the first full
paragraph of the Note and inserting in lieu thereof the words and
figures "June 30, 1996."
2. Bank shall attach an executed copy of this Agreement to
the original, executed Note, and the same shall be and become a
part thereof.
3. Except as herein amended, the Note shall remain in full
force and effect; and the Note, as so amended, is hereby ratified
and affirmed.<PAGE>
-2-
IN WITNESS WHEREOF, Borrower and Bank have executed this
Agreement, the day and year first above written.
SOUTHERN ELECTRIC GENERATING COMPANY
By: Art P. Beattie
Its Treasurer
FIRST UNION NATIONAL BANK OF GEORGIA
By: Mara G. Holley
Its Vice President<PAGE>
EXHIBIT A-2(h)
SEVENTH NOTE MODIFICATION AGREEMENT
THIS AGREEMENT, dated this 8th day of April, 1994, is
between SOUTHERN ELECTRIC GENERATING COMPANY, an Alabama
corporation ("Borrower"), and AMSOUTH BANK N.A. ("Bank").
RECITALS
Borrower is indebted to Bank pursuant to its Promissory
Note, dated October 2, 1989, as heretofore amended, in the face
amount of $10,000,000 ("Note").
Borrower and Bank desire to further amend the Note as herein
provided.
AGREEMENT
NOW, THEREFORE, the parties agree as follows:
1. The maturity date of the Note is hereby extended from
June 1, 1995 to June 1, 1996, by deleting the words and figures
"June 1, 1995" as same appear at the end of the first full
paragraph of the Note and inserting in lieu thereof the words and
figures "June 1, 1996."
2. Bank shall attach an executed copy of this Agreement to
the original, executed Note, and the same shall be and become a
part thereof.
3. Except as herein amended, the Note shall remain in full
force and effect; and the Note, as so amended, is hereby ratified
and affirmed.<PAGE>
-2-
IN WITNESS WHEREOF, Borrower and Bank have executed this
Agreement, the day and year first above written.
SOUTHERN ELECTRIC GENERATING COMPANY
By: Art P. Beattie
Its Treasurer
AMSOUTH BANK N.A.
By: John M. Kettig
Its Senior Vice President<PAGE>
EXHIBIT A-3(c)
GULF POWER COMPANY
List of Lending Banks, Setting Forth the
Maximum Amount to be Borrowed from Each
BANKS CREDIT LINE EXPIRATION DATE
$
Barnett Bank of West Florida 10,000,000 05-31-97*
First Union National Bank 10,000,000 05-31-95
SunBank/West Florida 10,000,000 05-31-95
AmSouth Bank of Florida 10,000,000 05-31-97*
Regions Bank of Florida 5,000,000 05-31-97*
First National Bank of
Crestview 500,000 05-31-95
First City Bank of Fort Walton 500,000 05-31-95
Peoples Bank of Graceville 250,000 05-31-95
Escambia County Bank 250,000 05-31-95
SouthTrust Bank 250,000 05-31-95
Bank of Bonifay 250,000 05-31-95
Total Secured Lines of Credit 47,000,000
Bank South 10,000,000 **
Mellon Bank 10,000,000 **
NationsBank 10,000,000 **
First Alabama Bank
(Regions Bank) 10,000,000 **
Industrial Bank Of Japan 15,000,000 **
Bank of America 25,000,000 **
Bank of New York 25,000,000 **
Morgan Guaranty Trust Company 25,000,000 **
Chemical Bank 25,000,000 **
Fuji Bank 25,000,000 **
Shawmut Bank *** 50,000,000 12/31/94
Total Bid-Loan Facilities 230,000,000
Total 277,000,000
* Revolving Credit Line.
** Bid-loan Facility. Informal arrangements with these banks
provide the ability to request quotes on an as needed
basis.
*** Maximum System Line of Credit for Gulf, Georgia and The
Southern Company.<PAGE>
EXHIBIT A-3(e)
SAVANNAH ELECTRIC AND POWER COMPANY
LINES OF CREDIT
AS OF 6/1/94
NAME OF BANK LINE OF CREDIT EXPIRATION DATE
TERRITORIAL
NationsBank of Georgia, N.A. $7,000,000* 6/01/95
Wachovia Bank of Georgia $3,500,000* 6/30/94
First Union Bank of Savannah $3,500,000 4/29/95
Trust Company Bank** $5,000,000 1/31/95
Bank South, N.A. $1,500,000 1/31/95
NON-TERRITORIAL
None
* Also maintain an uncommitted line for $10 million.
** Increased line to $5 mil. effec. 2/1/94.
Also we have with each of the above banks (except for Bank
South) a $5 million special Revolving Line of Credit for
use on the CT Project.<PAGE>
