Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from the line of Shneur Gershuni.
Shneur Gershuni – UBS
Hi, good morning, guys.
Robert Skaggs, Jr.
Good morning.
Shneur Gershuni – UBS
How's the weather?
Robert Skaggs, Jr.
Frigid, it is absolutely frigid. And we had, as you know, a very, very cold January; and February has started like gangbusters.
Shneur Gershuni – UBS
Well that should help cash flow from operations for next year.
Robert Skaggs, Jr.
That's right, and systems holding up well, so you're absolutely correct.
Shneur Gershuni – UBS
Okay, just have a couple of quick questions here. Thanks for putting out the slides that you put out this morning. I just wanted to reconcile some of the sources and so forth that you had put out. In your comments, you just described a potential $265 million facility with an accordion feature to $350, and then also talked about another $350 of secured and unsecured debt being raised at the utilities as well too. I guess that totals about $700 million. Where does that come in the sources? Is that part of the $500?
Robert Skaggs, Jr.
That's correct. And I would again footnote that the bank term loan that we discussed this morning, we do have firm commitments of $265 million. So again, those are firm and the expectation is that it will indeed expand to $350 million. But you're right; that as well as the unsecured and secured financing at the subsidiary level would be reflected in the $500 million.
Shneur Gershuni – UBS
If I'm reading this correctly, if you take everything off the way you'd like to, your sources is really not $1.7 billion but really could be as high as $1.9 billion?
Robert Skaggs, Jr.
It could be. And again what we said in the release and my prepared remarks, up to $500 million unsecured at the corporate, up to $350 at the subsidiaries. So we'll look at this as the situation unfolds. We're also mindful that we financing that would be required in 2010, and so we'll factor that into the calculus.
Shneur Gershuni – UBS
Great. You had mentioned in your prepared remarks with a fully funded pension plan and there had been some talk in the past about converting the plan to a 401k at some point. Where do you sit on your funding status right now? Do you pass the 94% test, and how does that impact plans in the future to convert it from a defined benefit to a 401k.
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