DP&L Receives PUCO Approvals for Credit Facility.Business Editors DAYTON, Ohio--(BUSINESS WIRE)--Nov. 7, 2003 DPL (Digital PowerLine) An earlier technology for transmitting a 1 Mbps data signal over electric power lines from Nortel Networks. It was developed in the late 1990s, but later abandoned due to implementation difficulties. See broadband over power lines. Inc. (NYSE NYSE See: New York Stock Exchange :DPL) today announced that the Public Utilities Commission of Ohio The Public Utilities Commission of Ohio (PUCO) is an agency of Federal State of Ohio that is charged with the regulation of utility service providers such as those of electricity, natural gas, and telecommunications as well as railroad safety and intrastate hazardous (PUCO PUCO Public Utilities Commission of Ohio (Columbus, Ohio) PUCO Pacific University College of Optometry (Forest Grove, Oregon) ) has granted its principal operating subsidiary, The Dayton Power and Light Company (DP&L), the authority to issue, reissue and renew notes, including its revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility, up to 12 months and $200 million in aggregate. "The PUCO's approval enables us to renew our current revolving credit agreements Revolving credit agreement A legal commitment in which a bank promises to lend a customer up to a specified maximum amount during a specified period. revolving credit agreement See line of credit. , which will provide an appropriate amount of credit support for DP&L's business requirements over the next year," said Caroline E. Muhlenkamp, Group Vice President and Interim Chief Financial Officer. Currently, DPL and DP&L have $50.0 and $105.0 million respectively, available through 364-day revolving credit agreements with a consortium of banks. The primary purpose of the revolving credit agreements is to provide backup liquidity for DPL's and DP&L's commercial paper program. At September 30, 2003, DPL and DP&L had no outstanding borrowings under these credit agreements. About DPL DPL Inc. is a diversified regional energy company. DPL's principal subsidiaries include The Dayton Power & Light Company (DP&L) and DPL Energy. DP&L provides electric services to over 500,000 retail customers in West Central Ohio. DPL Energy markets over 4,600 megawatts of generation capacity throughout the eastern United States. DPL Inc., through its subsidiaries, ranks among the top energy companies in generation efficiency and productivity. Further information on DPL Inc. can be found at www.dplinc.com. |
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