EX-25.5 23 d248451dex255.htm EX-25.5 EX-25.5

Exhibit 25.5

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939

OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

¨ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

 

 

BNY MELLON TRUST COMPANY OF ILLINOIS

(formerly known as BNY Midwest Trust Company)

(Exact name of trustee as specified in its charter)

 

 

 

Illinois   36-3800435
(State of incorporation   (I.R.S. employer
if not a U.S. national bank)   identification no.)
2 North LaSalle Street  
Suite 1020  
Chicago, Illinois   60602
(Address of principal executive offices)   (Zip code)

 

 

Commonwealth Edison Company

(Exact name of obligor as specified in its charter)

 

 

 

 

Illinois   36-0938600
(State or other jurisdiction of   (I.R.S. employer
incorporation or organization)   identification no.)
440 South LaSalle Street  
Suite 3300  
Chicago, Illinois   60605-1028
(Address of principal executive offices)   (Zip code)

 

 

First Mortgage Bonds

(Title of the indenture securities)

 

 

 


1. General information. Furnish the following information as to the Trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

 

Name

  

Address

Illinois Department of Financial and    320 West Washington Street
Professional Regulation    5th Floor
Division of Banking    Springfield, Illinois 62786
Compliance Reporting Section   
Federal Reserve Bank of Chicago    230 S. LaSalle Street
   Chicago, Illinois 60603

 

  (b) Whether it is authorized to exercise corporate trust powers.

Yes.

 

2. Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

 

16. List of Exhibits.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the “Act”) and 17 C.F.R. 229.10(d).

 

  1. A copy of Articles of Incorporation of BNY Mellon Trust Company of Illinois (formerly known as BNY Midwest Trust Company, CTC Illinois Trust Company and Continental Trust Company) as now in effect. (Exhibit 1 to Form T-1 filed with the Registration Statement No. 333-47688 and Exhibit 1 to Form T-1 filed with the Registration Statement No. 333-158920).

 

  2,3. A copy of the Certificate of Authority of the Trustee as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 2 to Form T-1 filed with the Registration Statement No. 333-47688 and Exhibit 2 to Form T-1 filed with the Registration Statement No. 333-158920).

 

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  4. A copy of the existing By-laws of the Trustee (Exhibit 4 to Form T-1 filed with the Registration Statement No. 333-196220).

 

  6. The consent of the Trustee required by Section 321(b) of the Act (Exhibit 6 to Form T-1 filed with the Registration Statement No. 333-196220).

 

  7. A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.

 

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SIGNATURE

Pursuant to the requirements of the Act, the trustee, BNY Mellon Trust Company of Illinois, a corporation organized and existing under the laws of the State of Illinois, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Chicago, and State of Illinois, on the 29th day of August, 2016.

 

BNY MELLON TRUST COMPANY OF ILLINOIS
By:  

/s/ D.G. Donovan

  Name: D. G. Donovan
  Title: Vice President

 

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Exhibit 7

DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION

DIVISION OF BANKING

CONSOLIDATED REPORT OF CONDITION

 

Trust Company Name:    BNY MELLON TRUST COMPANY OF ILLINOIS
Address:    2 NORTH LASALLE ST., SUITE 1020
City, State, Zip    CHICAGO, IL 60602
Credential Number:    TRS # 60392    (5-digit number-should begin with 60)

 

Include the institution’s domestic & foreign subsidiaries, completed for the period ending as of close of business on:

and submitted in response to the call of the Illinois Department of Financial and Professional Regulation.

 

 

 

 

6/30/2016

 

  

 

ALTERATION OF THIS FORM IS PROHIBITED AND WILL BE CONSIDERED NON-COMPLIANCE WITH FILING REQUIREMENTS.

   

                In Thousands(000)  

ASSETS

     

1. Cash and Due from Depository Institution

        120,760   

2. U.S. Treasury Securities

        0   

3. Obligations of States and Political Subdivisions

        0   

4. Other Bonds, Notes Receivable, and Debentures

        0   

Itemize the Notes Receivable amount listed above:

     

Inter-Company/Employee/Director:

     

Other (List):

     

5. Corporate Stock

        0   

6. Trust Company Premises, Furniture, Fixtures and Other Assets Representing TC Premises

  

    0   

7. Accounts Receivable:

        747   

Itemize Accounts Receivable amount listed above:

     

Fee Accounts Receivable

    696       

Inter-Company Account Receivable

    51       

Other (List):

     

8. Goodwill

        0   

9. Intangibles

        0   

10. Other Assets

        0   

Itemize assets that account for 10% or greater of Line 11: (Description & Amount)

  

 
     

 

 

 

11. TOTAL ASSETS

        121,507   
     

 

 

 

LIABILITIES

     

12. Accounts Payable

        443   

13. Taxes Payable

        0   

14. Other Liabilities for Borrowed Money

        0   

15. Other Liabilities

        128   

Itemize Liabilities that account for 10% or greater of Line 15) (Description & Amount)

  

 

Reserve for Taxes

    46       

Deferred Income

    28       

Accrued Expenses

    54       
     

 

 

 

16. TOTAL LIABILITIES

        571   
     

 

 

 

EQUITY CAPITAL

     

17. Preferred Stock

        0   

18. Common Stock

        2,000   

19. Surplus

        71,194   

20. Reserve for Operating Expenses

        0   

21. Retained Earnings (Loss)

        47,742   
     

 

 

 

22. TOTAL EQUITY CAPITAL

        120,936   
     

 

 

 

23. TOTAL LIABILITIES AND EQUITY CAPITAL

        121,507   
     

 

 

 

Check & Balance: should equal zero - otherwise incorrect

  

    0   
     

 

 

 

 

Trust Company Name:    BNY MELLON TRUST COMPANY OF ILLINOIS
Credential Number:    TRS #                60392

 

                 In Thousands(000)  

INCOME

      

1. Income from Fiduciary Activities:

      

A. Estates

         0   

B. Personal

         0   

C. Investment Advisory

         0   

D. Managed Employee Benefit

         0   

E. Non-managed Employee Benefit

         0   

F. Custody

         1,300   

G. Corporate Services

         92   

H. Land Trusts

         0   

I. All Other Fiduciary Activities

         0   

2. Interest Income

         6   

3. All Other Income: (List below)

         5   

Miscellaneous Charges/Fees

    5        
      

 

 

 

4. TOTAL OPERATING INCOME (Sum of Items 1-3)

         1,403   
      

 

 

 

EXPENSES

      

5. Operating Expenses:

      

A. Salaries

         101   

B. Employee Benefits

         37   

C. Trust Company Occupancy Expense

         5   

D. Furniture and Equipment Expense

         12   

E. Data Services

         0   

F. Marketing

         0   

G. Audits Examinations

         0   

H. Insurance (Fiduciary Activities)

         0   

I. All Other

         932   

Itemize amounts > 10% from Line 1 above.

      

Affiliate N1 Expense

    867        
      

 

 

 

6. TOTAL OPERATING EXPENSES (Items A-1)

         1,087   
      

 

 

 

7. NET OPERATING INCOME/LOSS BEFORE TAXES

         316   
      

 

 

 

8. APPLICABLE INCOME TAXES

         120   

9. EXTRAORDINARY ITEMS

         0   
      

 

 

 

10. NET INCOME (LOSS) AFTER TAXES

         196   
      

 

 

 

Explain any change greater than 10% from the average of the previous quarter(s).

IF this is the first quarter of the fiscal year, disregard explanation:

1.G Corporate Services - This change is due to the timing of the Invoice Billed.

5.B Employee Benefits - During the first quarter 2016, an incentive adjustment was booked, resulting in a reduction in expense.

5.C Trust Company Occupancy - Change is due to a decrease in Rent Expense in Q2 2016.

 

Trust Company Name:    BNY MELLON TRUST COMPANY OF ILLINOIS

CHANGES IN EQUITY CAPITAL

 

Thousands of Dollars (Year-to-Date)

   PREFERRED
STOCK
(PAR)
     COMMON
STOCK
(PAR)
     SURPLUS
&
RESERVE
     RETAINED
EARNINGS
     TOTAL
EQUITY
CAPITAL (Line
Total)
 

1. Balance beginning of fiscal year

     0         2,000         71,176         47,546         120,722   

2. Net Income (loss)

              196         196   

3. Capital sale/conversion/acquisition/retirement

     0         0         0         0         0   

4. Changes incident to mergers & absorptions

     0         0         0         0         0   

5. Cash dividends declared on preferred stock

           0         0         0   

6. Cash dividends declared on common stock

           0         0         0   

7. Stock dividends issued

     0         0         0         0         0   

8. Other increases/decreases - ITEMIZE:

     0         0         18         0         18   

Affiliate Restricted Stock/Share Grant

              
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

9. Ending Balance

     0         2,000         71,194         47,742         120,936   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Check & Balance: should equal zero - otherwise incorrect

  

     0   

NOTE: Additional Page(s) may be attached to this report if an item requires further explanation or justification

 

 

CERTIFICATION SECTION

Person to whom Supervisory Staff should direct questions concerning this report.

I, David A. Hayes of BNY Mellon Trust Company of Illinois

 

(PRINT Name and Title of Officer Authorized to Sign Report)            (Name of Trust Company)

do certify that the information contained in these statements are accurate to the best of my knowledge and belief. I understand that submission of

 

/s/ David A. Hayes

   

Managing Director - Regulatory Reporting

(Signature of Officer Authorized to Sign Report)     Title

David A. Hayes

   

412-234-7430

Name of Officer Above     Telephone Number (Extension)

412-234-0972

   

David Hayes@bnymellon.com

Fax Number     E-mail Address