-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, I1zgA9cTGyvmYDS/PmwQE5OxIkDzZPrwNRhnORIxtQydAerke78iqpJl6lVFsqvV baDuJgcDjHa6JXCVTweAwQ== 0000950153-06-002474.txt : 20061004 0000950153-06-002474.hdr.sgml : 20061004 20061004130844 ACCESSION NUMBER: 0000950153-06-002474 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060928 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20061004 DATE AS OF CHANGE: 20061004 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PINNACLE WEST CAPITAL CORP CENTRAL INDEX KEY: 0000764622 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 860512431 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08962 FILM NUMBER: 061127532 BUSINESS ADDRESS: STREET 1: 400 NORTH FIFTH STREET STREET 2: . CITY: PHOENIX STATE: AZ ZIP: 85004 BUSINESS PHONE: 6023792500 MAIL ADDRESS: STREET 1: 400 NORTH FIFTH STREET STREET 2: . CITY: PHOENIX STATE: AZ ZIP: 85004 FORMER COMPANY: FORMER CONFORMED NAME: AZP GROUP INC DATE OF NAME CHANGE: 19870506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARIZONA PUBLIC SERVICE CO CENTRAL INDEX KEY: 0000007286 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 860011170 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04473 FILM NUMBER: 061127533 BUSINESS ADDRESS: STREET 1: 400 N FIFTH ST STREET 2: P O BOX 53999 CITY: PHOENIX STATE: AZ ZIP: 85004 BUSINESS PHONE: 6022501000 8-K 1 p72949e8vk.htm 8-K e8vk
 

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 28, 2006
         
    Exact Name of Registrant as Specified    
    in Charter; State of Incorporation;   IRS Employer
Commission File Number   Address and Telephone Number   Identification Number
1-8962
  Pinnacle West Capital Corporation   86-0512431
 
  (an Arizona corporation)    
 
  400 North Fifth Street, P.O. Box 53999    
 
  Phoenix, AZ 85072-3999    
 
  (602) 250-1000    
 
        
1-4473
  Arizona Public Service Company   86-0011170
 
  (an Arizona corporation)    
 
  400 North Fifth Street, P.O. Box 53999    
 
  Phoenix, AZ 85072-3999    
 
  (602) 250-1000    
     Check the appropriate 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:
     o Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425)
     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
This combined Form 8-K is separately filed by Pinnacle West Capital Corporation and Arizona Public Service Company. Each registrant is filing on its own behalf all of the information contained in this Form 8-K that relates to such registrant and, where required, its subsidiaries. Except as stated in the preceding sentence, neither registrant is filing any information that does not relate to such registrant, and therefore makes no representation as to any such information.
 
 

 

 

Item 1.01. Entry into a Material Definitive Agreement.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
     On September 28, 2006, Arizona Public Service Company (“APS”) entered into an unsecured revolving credit facility with Bank of America, N.A., as Administrative Agent and Issuing Bank, The Bank of New York, as Syndication Agent and Issuing Bank, Citibank, N.A., JPMorgan Chase Bank, N.A., and Credit Suisse, as Co-Documentation Agents, Banc of America Securities LLC and BNY Capital Markets, Inc., as Joint Lead Arrangers, and the lender parties thereto, allowing APS to borrow, repay and reborrow, from time to time, up to $500 million on or prior to September 28, 2011. APS may increase the amount of the facility up to a maximum facility of $600 million upon the satisfaction of certain conditions. Once a year APS has the option to request that the facility be extended for an additional one-year period. APS will use the facility for general corporate purposes. The facility can also be used for letters of credit.
     APS must repay borrowings under the facility by September 28, 2011 unless extended or accelerated as described below. APS must pay interest and fees from time to time based on APS’ then-current senior unsecured debt credit ratings.
     Borrowings under the facility are conditioned on APS’ ability to make certain representations except for representations concerning no material adverse change and litigation. The facility includes customary covenants, including that APS maintain a maximum consolidated debt-to-capitalization ratio and comply with a negative lien provision. The facility also includes customary events of default, including a cross default provision and a change of control provision relating to Pinnacle West Capital Corporation. If an event of default occurs, lenders holding a specified percentage of the commitments, or the administrative agent with such lenders’ consent, may terminate the obligations of the lenders to make loans under the facility and the obligations of the issuing banks to issue letters of credit, and/or may declare the obligations outstanding under the facility to be due and payable. Such termination and acceleration will occur automatically in the event of an insolvency or bankruptcy default relating to APS.
          APS and its affiliates maintain normal banking and other relationships with the agents and other lenders in the facility.

 

 

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 hereunto duly authorized.
             
    PINNACLE WEST CAPITAL CORPORATION  
    (Registrant)
 
            
Dated: October 4, 2006
  By:   /s/ Barbara M. Gomez    
 
           
 
      Barbara M. Gomez    
 
      Vice President and Treasurer    
 
            
    ARIZONA PUBLIC SERVICE COMPANY
    (Registrant)
 
            
Dated: October 4, 2006
  By:   /s/ Barbara M. Gomez    
 
           
 
      Barbara M. Gomez    
 
      Vice President and Treasurer    

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