G-100-95 SIXTH FLOOR, 900 HOWE STREET, BOX 250 TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 BC TOLL FREE: 1-800-663-1385 CANADA FACSIMILE: (604) 660-1102 IN THE MATTER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended An Application by Be Gas Utility Ltd. for Approval to Issue Medium Term Note Debentures BEFORE: M.K. Jaccard, Chairperson; and ) L.R. Barr, Deputy Chairperson ) November 28, 1995 ORDER WHEREAS: A. On November 20, 1995 BC Gas Utility Ltd. ("BC Gas") applied to the Commission pursuant to Section 57(2) of the Utilities Commission Act ("the Act") for approval to renew the authority to issue Medium Term Note Debentures ("MTN") as a series of debentures under the BC Gas trust indenture until the end of November 1997; and B. The approval given under Order No. G-l 14-93 to issue MTN of up to $200 million with maturities in the range of one to ten years and with interest rates set at the time of issue expires at the end of November 1995; and C. BC Gas requested that it be allowed to issue up to $300 million of MTN over the two year period ending November 1997 with maturities of not less than one year and interest rates set at the time of issue; and D. BC Gas intends to use the MTN to finance new debt and to refinance maturing debt; and E. The Commission has reviewed the Application and supporting material and finds that approval of the issue of MTN is necessary and in the public interest. NOW THEREFORE the Commission orders as follows: 1. The approval of the MTN given by Order No. G-l14-93 is withdrawn effective November 30, 1995. 2. The Commission approves for BC Gas the issuance of up to $300 million MTN from time-to-time, effective from December 1,1995 until the end of November 1997, pursuant to Section 57(2) of the Act. 3. BC Gas shall file with the Commission within one week of issue, a pricing supplement for each MTN issued. DATED at the City of Vancouver, in the Province of British Columbia, this day of November, 1995. BY ORDER Dr. Mark K. Jac:car'd Chairperson BCUC/Order/BCG-MedTennNoteDebentures
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