ML19345E310
| ML19345E310 | |
| Person / Time | |
|---|---|
| Site: | Yankee Rowe |
| Issue date: | 12/02/1950 |
| From: | Allen D YANKEE ATOMIC ELECTRIC CO. |
| To: | Lowenstein R US ATOMIC ENERGY COMMISSION (AEC) |
| Shared Package | |
| ML19345E311 | List: |
| References | |
| 581202, NUDOCS 8101060804 | |
| Download: ML19345E310 (1) | |
Text
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NEW ENGLAND POWER SERVICE COMIMNY
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-141 STUART S1 REET, BOSTON 10, MASS.
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(.? ', #V' December 2, 1956 Robert Lowenstein, Counsel Division of Licensing and Regulation Office cf the General Counsel U. S. Atenic Energy Cou.ission Washington 25, D. C.
Dear Mr. Lowenstein:
Yankee Atomic Electric Company Docket No. 50-29 I am enclosing two copies of a draft amendment to the Yankee license applicatien covering Yankee's financial qualifications. We expect to be in a position to file this amendment formally by about t.he middle of De-cember. When completed, the amendment will carry a full description of Yankee's pemanent financing pmgram which has now been negotiated sub-stantially along the lines indicated in my letter of July 17 to Mr. Price.
This program involves, among other thir.gs, the issue of $20,000,000 of first mortgage bonds to a group of insurance companies headed by The Equitable Life.
Paragraph 3 of the draft amendment indicates that, as suggested by my earlier letter, it has been necessary for the protecticn of the insur-ance companies to condition their obligations to purchase Yankee's bonds on the entry of an order by the Commission consenting to the creation of the lien of the proposed bond indenture on the reactor upon terms satis-factory to them and to their counsel. Attachment No.1 to the amend. ment is a draft of such an order based en your criginal 9-10-$8 draft, as en-clcsed with your letter of September 16, together with changes suggested',
by the insurance companies and their counsel, Messrs. Milbank, Tweed, Hope
& Hadley.
I ::hould greatly appreciate any con.ents or suggestions which you nay be able to give us in advance of fomal filing of this amendment.
Yours very truly, kh D. G. Allen Assistant General Counsel
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