expenditures budget for years 2015-2017; (ii) refinance $1.825 billion of maturing long-term debt; (iii) finance $1.030 billion in new long-term debt; (iv) pay accrued interest and other expenses incident to the issuance and sale of Debt Securities; (v) enable it meet and address unforeseen contingencies; and (vi) reimburse itself for money it has expended from its income, or from funds in its treasury that were not secured by or obtained from the issuance of debt and equity, and for other purposes previously listed herein except maintenance of service and replacements, with the amounts so reimbursed becoming part of SCE’s general treasury funds. SCE has a reasonable need for additional authority to issue $1.450 billion of Preferred Equity Securities to: (i) partially finance its $13.063 billion in capital expenditures budget for years 2015-2017; (ii) refinance $995 million of preferred equity; (iii) finance $195 million in new Preferred Equity; (iv) pay expenses incident to the issuance and sale of Preferred Equity Securities; (v) enable it meet and address unforeseen contingencies; and (vi) reimburse itself for money it has expended from its income, or from funds in its treasury that were not secured by or obtained from the issuance of debt and equity, and for other purposes previously listed herein except maintenance of service and replacements, with the amounts so reimbursed becoming part of SCE’s general treasury funds. SCE has a reasonable need for the requested contingency authority to enable it meet potential contingencies and address unforeseen capital such as financial market disruptions, other unexpected events, and to take advantage of other potential opportunities to refinance existing debt and preferred equity into ones with lower interest rates.
expenditures budget for years 2015-2017; (ii) refinance $1.825 billion of maturing long-term debt; (iii) finance $1.030 billion in new long-term debt; (iv) pay accrued interest and other expenses incident to the issuance and sale of Debt Securities; (v) enable it meet and address unforeseen contingencies; and (vi) reimburse itself for money it has expended from its income, or from funds in its treasury that were not secured by or obtained from the issuance of debt and equity, and for other purposes previously listed herein except maintenance of service and replacements, with the amounts so reimbursed becoming part of SCE’s general treasury funds. SCE has a reasonable need for additional authority to issue $1.450 billion of Preferred Equity Securities to: (i) partially finance its $13.063 billion in capital expenditures budget for years 2015-2017; (ii) refinance $995 million of preferred equity; (iii) finance $195 million in new Preferred Equity; (iv) pay expenses incident to the issuance and sale of Preferred Equity Securities; (v) enable it meet and address unforeseen contingencies; and (vi) reimburse itself for money it has expended from its income, or from funds in its treasury that were not secured by or obtained from the issuance of debt and equity, and for other purposes previously listed herein except maintenance of service and replacements, with the amounts so reimbursed becoming part of SCE’s general treasury funds. SCE has a reasonable need for the requested contingency authority to enable it meet potential contingencies and address unforeseen capital such as financial market disruptions, other unexpected events, and to take advantage of other potential opportunities to refinance existing debt and preferred equity into ones with lower interest rates.
158663585.docx