SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported): December 7, 2004
PSI ENERGY, INC.
(Exact Name of Registrant as Specified in Its Charter)
Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
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1-3543 PSI ENERGY, INC. 35-0594457
(An Indiana Corporation)
1000 East Main Street
Plainfield, Indiana 46168
(513) 421-9500
Check the approriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant 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))
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Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-balance Sheet Arrangement of a Registrant
On December 7, 2004, PSI Energy, Inc. (PSI) borrowed the proceeds from the
Indiana Development Finance Authority's issuance of $77,125,000 principal amount
of its Environmental Revenue Bonds, Series 2004B and $77,125,000 principal
amount of its Environmental Revenue Bonds, Series 2004C, both due December 1,
2039 (for loans totaling $154,250,000). Payment of the principal of and interest
on the Bonds when due is insured by separate bond insurance policies issued by
XL Capital Assurance. The initial interest rate for Series 2004B is 1.80% and
for Series 2004C is 1.85%. The interest rates on both Series 2004B and Series
2004C will initially reset on January 11, 2005 and then every 35 days by auction
thereafter. Because the holders cannot tender the Bonds for purchase by the
issuer while the Bonds are in the auction rate mode, these debt obligations are
classified as long-term debt. PSI will use the proceeds from these borrowings to
assist in the acquisition and construction of solid waste disposal facilities
located at various generating stations in Indiana. The proceeds are being held
in escrow by an independent trustee and will be drawn upon as the facilities are
built.
Copies of the loan agreements are attached hereto as Exhibit 10-yyy and Exhibit
10-zzz and are incorporated into this Report by reference.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
The documents below are being filed on behalf of PSI.
Exhibit No. Registrant Description of Document
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10-yyy PSI Loan Agreement between PSI and the Indiana
Development Finance Authority dated as of
December 1, 2004, relating to Series 2004B.
10-zzz PSI Loan Agreement between PSI and the Indiana
Development Finance Authority dated as of
December 1, 2004, relating to Series 2004C.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PSI ENERGY, INC.
Dated: December 9, 2004 By /s/ LYNN J. GOOD
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Name: Lynn J. Good
Title: Vice President and Controller
EXHIBIT INDEX
Exhibit No. Description
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10-yyy Loan Agreement between PSI and the Indiana Development Finance
Authority dated as of December 1, 2004, relating to Series 2004B.
10-zzz Loan Agreement between PSI and the Indiana Development Finance
Authority dated as of December 1, 2004, relating to Series 2004C.
