Allegheny Power 2011 Annual Report Download - page 46

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31
Short-Term Borrowings
FirstEnergy had no significant short-term borrowings as of December 31, 2011, and short-term borrowings of approximately $700
million as of December 31, 2010. FirstEnergy’s available liquidity as of January 31, 2012, was as follows:
Company
FirstEnergy(1)
FES / AE Supply
TrAIL
AGC
Type
Revolving
Revolving
Revolving
Revolving
Maturity
June 2016
June 2016
Jan. 2013
Dec. 2013
Subtotal
Cash
Total
Commitment
(In millions)
$ 2,000
2,500
450
50
$ 5,000
—
$ 5,000
Available
Liquidity
$ 1,395
2,498
450
—
$ 4,343
49
$ 4,392
(1) FE and the Utilities
Revolving Credit Facilities
FirstEnergy and FES / AE Supply Facilities
FirstEnergy and certain of its subsidiaries participate in two five-year syndicated revolving credit facilities with aggregate
commitments of $4.5 billion (Facilities).
An aggregate amount of $2 billion is available to be borrowed under a syndicated revolving credit facility (FirstEnergy Facility),
subject to separate borrowing sublimits for each borrower. The borrowers under the FirstEnergy Facility are FE, OE, Penn, CEI,
TE, Met-Ed, ATSI, JCP&L, MP, Penelec, PE and WP. An additional $2.5 billion is available to be borrowed by FES and AE Supply
under a separate syndicated revolving credit facility (FES/AE Supply Facility), subject to separate borrowing sublimits for each
borrower.
Commitments under each of the Facilities will be available until June 17, 2016, unless the lenders agree, at the request of the
applicable borrowers, to up to two additional one-year extensions. Generally, borrowings under each of the Facilities are available
to each borrower separately and mature on the earlier of 364 days from the date of borrowing or the commitment termination date,
as the same may be extended.
Borrowings under each of the Facilities are subject to the usual and customary provisions for acceleration upon the occurrence of
events of default, including a cross-default for other indebtedness in excess of $100 million, as described further in Note 12,
Capitalization.
The following table summarizes the borrowing sub-limits for each borrower under the Facilities, as well as the limitations on short-
term indebtedness applicable to each borrower under current regulatory approvals and applicable statutory and/or charter limitations
as of December 31, 2011: