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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 31, 2000
TEXAS EASTERN TRANSMISSION CORPORATION
(Exact name of Registrant as Specified in its Charter)
Delaware 1-04456 72-0378240
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
5400 Westheimer Court
Houston, Texas
(Address of Principal Executive Offices)
77251-1642
(Zip code)
713-627-5400
(Registrant's telephone number, including area code)
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Item 5. Other Events
The registrant is a wholly owned subsidiary of PanEnergy Corp, which is an
indirect wholly owned subsidiary of Duke Energy Corporation. As reported in the
registrant's Form 10-K for the year ended December 31, 1999, Item 8. Financial
Statements and Supplementary Data, the registrant has carried advances
receivable from PanEnergy Corp as non-interest bearing accounts that increase
and decrease as a result of the movement of funds to provide for operations,
capital expenditures and debt payments. As of September 30, 2000 and December
31, 1999, advances receivable from PanEnergy Corp were $1,470 million and $1,267
million, respectively.
On October 31, 2000, PanEnergy Corp repaid to the registrant the cumulative
advance receivable balance as of that date of approximately $1,330 million. Also
on that date, the registrant repaid to PanEnergy Corp its $605 million 8.25%
notes payable and paid a dividend of approximately $725 million to PanEnergy
Corp. The effect of these adjustments upon future net income would be an
increase of approximately $31 million annually.
The registrant will continue to utilize non-interest bearing advances with
PanEnergy Corp to reflect current cash flow activity.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TEXAS EASTERN TRANSMISSION
CORPORATION
(Registrant)
/s/ Dorothy M. Ables
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Dorothy M. Ables
Vice President and
Chief Financial Officer
November 21, 2000
