ameren8k09192008.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of report (Date of
earliest event reported):
Commission
File Number
|
Exact
Name of Registrant as
Specified
in Charter;
State
of Incorporation;
Address
and Telephone Number
|
IRS
Employer
Identification
Number
|
|
(Missouri
Corporation)
1901
Chouteau Avenue
St.
Louis, Missouri 63103
(314)
621-3222
|
|
1-2967
|
Union
Electric Company
(Missouri
Corporation)
1901
Chouteau Avenue
St.
Louis, MO 63103
(314)
621-3222
|
43-0559760
|
1-3672
|
Central
Illinois Public Service Company
(Illinois
Corporation)
607
East Adams Street
Springfield,
Illinois 62739
(888)
789-2477
|
37-0211380
|
333-56594 |
Ameren
Energy Generating Company
(Illinois
Corporation)
1901
Chouteau Avenue
St.
Louis, Missouri 63103
(314)
621-3222 |
37-1395586 |
2-95569
|
CILCORP
Inc.
(Illinois
Corporation)
300
Liberty Street
Peoria,
Illinois 61602
(309)
677-5271
|
37-1169387
|
1-2732
|
Central
Illinois Light Company
(Illinois
Corporation)
300
Liberty Street
Peoria,
Illinois 61602
(309)
677-5271
|
37-0211050
|
1-3004
|
Illinois
Power Company
(Illinois
Corporation)
370
South Main Street
Decatur,
Illinois 62523
(217)
424-6600
|
37-0344645
|
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrants under any of the following
provisions:
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
ITEM
8.01 Other Events.
On
September 15, 2008, Lehman Brothers Holdings Inc. (“Lehman”) filed for
protection under Chapter 11 of the federal Bankruptcy Code in the U.S.
Bankruptcy Court in the Southern District of New York. Ameren
Corporation (“Ameren”) and its subsidiaries, Union Electric Company, doing
business as AmerenUE (“UE”), Central Illinois Public Service Company, doing
business as AmerenCIPS (“CIPS”), Ameren Energy Generating Company (“Genco”),
CILCORP Inc. (“CILCORP”), Central Illinois Light Company, doing business as
AmerenCILCO (“CILCO”), Illinois Power Company, doing business as AmerenIP
(“IP”), AmerenEnergy Resources Generating Company (“AERG”), Ameren Energy
Marketing Company (“Marketing Company”) and Ameren Energy Fuels and Services
Company (“AFS”) (collectively the “Ameren Companies”) have business
relationships with subsidiaries of Lehman. The Ameren Companies
believe that their direct exposures resulting from the Lehman bankruptcy and the
possible resulting effects on subsidiaries of Lehman will not have a material
adverse effect on the Ameren Companies, either individually or
collectively.
UE, CIPS,
Genco, IP, Marketing Company and AFS are counterparties with Lehman Brothers
Commodity Services Inc. (“Lehman Commodity Services”) and Eagle Energy Partners
I, LP (“Eagle Energy”), subsidiaries of Lehman, in energy commodity transactions
that support their utility and generation businesses. The obligations
of Lehman Commodity Services and Eagle Energy are guaranteed by Lehman, and the
Lehman bankruptcy filing gives UE, CIPS, Genco, IP, Marketing Company and AFS
the right to terminate the transactions. As of September 15, 2008,
Ameren and it subsidiaries direct exposure to Lehman Commodity Services and
Eagle Energy, based on existing contracts and current market prices, was
estimated to be less than $1 million before taxes, individually and
collectively.
Ameren,
UE, CIPS, Genco, CILCORP, CILCO, IP and AERG have an aggregate of $2.15 billion
of committed credit facilities with a consortium of banks including Lehman
Brothers Bank, FSB and Lehman Brothers Commercial Bank, subsidiaries of
Lehman. Reference is made to Liquidity and Capital Resources under
Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and
Results of Operations and Note 4 – Credit Facilities and Liquidity to our
financial statements under Part II, Item 8. Financial Statements and
Supplementary Data, each in the Annual Report on Form 10-K for the fiscal year
ended December 31, 2007; and to Note 3 – Short-term Borrowings and Liquidity to
our financial statements under Part I, Item 1. Financial Statements and
Liquidity and Capital Resources under Part I, Item 2. Management’s Discussion
and Analysis of Financial Condition and Results of Operations, each in the
Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2008
of Ameren, UE, CIPS, Genco, CILCORP, CILCO and IP, for a discussion of these
credit facilities. As of Lehman’s bankruptcy filing on
September 15, 2008, Lehman’s subsidiaries’ total commitments, within these
credit facilities was $171 million: Lehman Brothers Bank, FSB - $100
million under the $1.15 billion credit facility and $21 million under the 2006
$500 million credit facility; and Lehman Brothers Commercial Bank - $50 million
under the
2007 $500 million credit facility. On September 17, 2008, CIPS,
CILCORP, CILCO, IP and AERG consented to a request from Lehman Brothers
Commercial Bank to assign its $50 million commitment under the 2007 $500 million
credit facility to Commerzbank AG. At this time, we do not know if
Lehman Brothers Bank, FSB will seek to assign to other parties any of its
commitments within our credit facilities.
As of
September 18, 2008, Ameren had available liquidity (including cash balances) of
approximately $1.197 billion, excluding the $121 million of Lehman Brothers
Bank, FSB’s credit facilities commitments. Ameren, UE, CIPS, Genco,
CILCORP, CILCO, IP and AERG do not believe that the potential reduction in
available capacity under the credit facilities if Lehman Brothers Bank, FSB does
not fund its commitments will have a material impact on their
liquidity. Since the Lehman bankruptcy filing, Lehman Brothers Bank,
FSB has honored a funding request under the credit facilities.
The
following table summarizes the bank commitments under the existing $2.15 billion
of committed credit facilities and the borrowings outstanding under such
facilities as of September 18, 2008:
Credit
Facility
|
Borrowers
|
Aggregate
Bank
Commitment
(in
millions)
|
Lehman
Brothers
Bank,
FSB Commitment
(in
millions)
|
Borrowings
Outstanding
(in millions)
|
$1.15
Billion
Credit
Facility
|
Ameren,
UE and Genco
|
$ 1,150
|
$ 100
|
$
275
|
2007
$500 Million
Credit
Facility
|
CIPS,
CILCORP, CILCO,
IP
and AERG
|
$
500
|
$ -
0 -
|
$
500
|
2006
$500 Million
Credit
Facility
|
CIPS,
CILCORP, CILCO,
IP
and AERG
|
$
500
|
$
21
|
$
365
|
TOTAL
|
|
$ 2,150
|
$
121
|
$
1,140
|
Forward-Looking
Statements. We make statements in this report that are
considered forward-looking statements within the meaning of the Securities
Exchange Act of 1934. These statements are not guarantees of future performance
and are subject to risks, uncertainties, and other important factors that could
cause actual performance or achievements to be materially different from those
we project. For a full discussion of risks, uncertainties, and other
important factors, we encourage you to read our documents on file with the
Securities and Exchange Commission, including those set forth in our Forms 10-K
and 10-Q under the forward-looking statements and risk factors
sections. Except as required by law, we do not intend to update or
revise any forward-looking statements, whether as a result of new information,
future events, or otherwise.
- - - - -
- - - - - - - - - - - - - - -
This
combined Form 8-K is being filed separately by Ameren, UE, CIPS, Genco, CILCORP,
CILCO and IP. Information contained herein relating to any individual
registrant has been filed by such registrant on its own behalf. No
registrant makes any representation as to information relating to any other
registrant.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, each registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized. The signature for each undersigned company shall be
deemed to relate only to matters having reference to such company or its
subsidiaries.
AMEREN
CORPORATION
(Registrant)
/s/
Martin J.
Lyons
Martin J.
Lyons
Senior
Vice President and Chief Accounting Officer
UNION
ELECTRIC COMPANY
(Registrant)
/s/
Martin J.
Lyons
Martin J.
Lyons
Senior
Vice President and Chief Accounting Officer
CENTRAL
ILLINOIS PUBLIC SERVICE COMPANY
(Registrant)
/s/
Martin J.
Lyons
Martin J.
Lyons
Senior
Vice President and Chief Accounting Officer
AMEREN
ENERGY GENERATING COMPANY
(Registrant)
/s/
Martin J.
Lyons
Martin J.
Lyons
Senior
Vice President and Chief Accounting Officer
CILCORP
INC.
(Registrant)
/s/
Martin J.
Lyons
Martin J.
Lyons
Senior
Vice President and Chief Accounting Officer
CENTRAL
ILLINOIS LIGHT COMPANY
(Registrant)
/s/
Martin J.
Lyons
Martin J.
Lyons
Senior
Vice President and Chief Accounting Officer
ILLINOIS
POWER COMPANY
(Registrant)
/s/
Martin J.
Lyons
Martin J.
Lyons
Senior
Vice President and Chief Accounting Officer
Date: September
19, 2008
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