<"'-H COV -\\? ~ Q:) ,,'\«, s / . < . '/ J;~. S coN"'" PROVINCE OF BRITISH COLUMBIA IN THE MAlTER OF the Utilities Commission Act, S.B.e. 1980, c. 60, as amended and IN THE MAlTER OF an Application by BC Gas Inc. BEFORE: J.G. McIntyre, Chainnan; J.D.V Newlands, Deputy Chaimum; and N. Martin, Commissioner; ORDER WHEREAS: A. By Application dated November 6, 1990, BC Gas Inc. ("BC Gas") applied, pursuant to Section 57(3) of the Utilities Commission Act ("the Act") to increase the interest payable on its Series A Debentures (lithe Debentures") from 97/8 percent per annum to 10 1/8 percent per annum, effective December I, 1990; and B. The increase in interest rate was accepted by the debenture holders in exchange for their agreement to an amendmellt in the Debenture Trust Indenture that will allow BC Gas a greater flexibility in ananging future financing requirements; and C. BC Gas provided the Commission with confirmation that the change in interest rate was acceptable to the Debenture holders; and D. The Commission has considered the Application and is satisfied that the increase in interest rate paid on the Debentures is necessary and in the public interest. NOW THEREFORE the Commission Orders as follows: Pursuant to Section 57(3) of the Act, the Commission approves the increase in interest rate payable on the Series A Debentures from 97/8 percent per annum to 10 1/8 percent per annum effective December 1, 1990. DATED at the City of Vancouver, in the Province of British Columbia, this, ~), /~iay of November, 1990. /ems BCUC/Com.Orders/Appl. for Debelllure v . 4 t. ~ BRITISH '7 UTILITIES CO -S ~ ' C, .t-'c, ORDER NUMBER G-87~90 ------~~----~--~------~---) ) ) November 15,1990 ) ) ) BY ORDER " ') John G, McIntyre Chainnan
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