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PCG » Topics » Cash Collateralized Letter of Credit

This excerpt taken from the PCG 8-K filed Oct 28, 2005.

Cash Collateralized Letter of Credit

 

On March 2, 2004, the Utility entered into a cash collateralized $400 million letter of credit facility that was used to issue letters of credit to provide credit support in connection with the Utility’s pre-existing and new natural gas procurement activities and related purchases of natural gas transportation services. As discussed above, this credit facility was terminated on the Effective Date, and the outstanding balance of letters of credit was transferred to the $850 million working capital facility.

 

This excerpt taken from the PCG 10-K filed Feb 18, 2005.

Cash Collateralized Letter of Credit

        On March 2, 2004, the Utility entered into a cash collateralized $400 million letter of credit facility that was used to issue letters of credit to provide credit support in connection with the Utility's pre-existing and new natural gas procurement activities and related purchases of natural gas transportation services. As discussed above, this credit facility was terminated on the Effective Date, and the outstanding balance of letters of credit was transferred to the $850 million working capital facility.

EXCERPTS ON THIS PAGE:

8-K
Oct 28, 2005
10-K
Feb 18, 2005

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