Amy K.SECURITIES AND EXCHANGE COMMISSION
Washington, DC
FORM U-6B-2
Certificate of Notification
Certificate is filed by: The Toledo Edison Company ("Toledo Edison"), a
subsidiary of FirstEnergy Corp., a registered holding company, pursuant to Rule
U-20(d) and Rule U-52(c) adopted under the Public Utility Holding Company Act of
1935.
This certificate is notice that the above named company has issued,
renewed or guaranteed the security or securities described herein which issue,
renewal or guaranty was exempted from the provisions of Section 6(a) of the Act
and was neither the subject of a declaration or application on Form U-1 nor
included within the exemption provided by Rule-U-48.
1. Type of securities:
Pursuant to a Reimbursement Agreement dated as of April 5, 2002 among
Toledo Edison, The Cleveland Electric Illuminating Company (collectively
with Toledo Edison, the "Companies"), Barclays Bank, PLC ("Barclays"), as
Joint Lead Arranger, Fronting Bank and Administrative Agent, Union Bank of
California, N.A., as Joint Lead Arranger and Syndication Agent, and the
Participating Banks named therein, nine letters of credit (each
individually, a "Letter of Credit", and collectively, the "Letters of
Credit") were issued by Barclays in favor of the Owner Participants
(listed in Item 3 below), as provided for in the Participation Agreements,
each dated as of September 15, 1987, as amended to the date hereof, among
(i) each such Owner Participant, (ii) BVPS Funding Corporation, (iii) BVPS
II Funding Corporation, (iv) the Owner Trustee, under the Trust Agreement
dated as of September 15, 1987 with the Owner Participant, (v) The Bank of
New York (as successor to Irving Trust Company), as Indenture Trustee,
under the Trust Indenture, Mortgage, Security Agreement and Assignment of
Lease dated as of September 15, 1987 with the Owner Trustee and (vi) the
Companies, relating to the ownership and lease of an undivided interest in
the Beaver Valley Power Station Unit 2 located in the borough of
Shippingport and Beaver County, Pennsylvania, through a trust for the
benefit of the Owner Participant, which interest was leased to the
Companies pursuant to a Facility Lease dated as of September 15, 1987 (as
amended to the date hereof, the "Facility Lease"), between the Owner
Trustee and the Companies. The Companies are required to maintain an
irrevocable letter of credit in support of certain of their obligations
under such Facility Lease.
2. Issue, renewal or guaranty:
Issue.
3. Principal amount of each security:
The Letters of Credit were issued in the following maximum drawing
amounts, in each case declining semiannually:
a. $11,577,051.43 in favor of PNC Commercial Corp., as Owner
Participant.
b. $50,125,703.95 in favor of DaimlerChrysler Services North America
LLC, as Owner Participant.
c. $57,174,430.47 in favor of Mission Funding Beta, as Owner
Participant.
d. $14,676,837.63 in favor of AHLIC Investment Holdings Corporation,
as Owner Participant.
e. $14,676,837.63 in favor of Beaver Valley, Inc., as Owner
Participant.
f. $19,069,451.04 in favor of Perry One Delta Limited Partnership,
as Owner Participant (with respect to Trust Estate A).
g. $19,069,451.04 in favor of Perry One Delta Limited Partnership,
as Owner Participant (with respect to Trust Estate B).
h. $15,865,861.07 in favor of Perry One Gamma Limited Partnership,
as Owner Participant.
i. $13,665,835.59 in favor of Beaver Valley Two Rho Limited
Partnership, as Owner Participant.
4. Rate of interest per annum of each security:
Drawings under the Letters of Credit not immediately reimbursed by Toledo
Edison to the Fronting Bank bear interest at either an Alternate Base Rate
or a Eurodollar Rate. As of the date hereof, such rates would be 4.75% and
3.185% per annum, respectively.
5. Date of issue, renewal or guaranty of each security:
April 5, 2002
6. If renewal of security, give date of original issue:
Not Applicable.
7. Date of maturity of each security:
April 5, 2005
8. Name of the person to whom each security was issued, renewed or
guaranteed:
Each Letter of Credit was issued for the account of the Companies in favor
of the Owner Participants listed above in Item 3.
9. Collateral given with each security:
None.
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10. Consideration given for each security:
None.
11. Application of proceeds of each security:
Not Applicable.
12. Indicate by a check after the applicable statement below whether the
issue, renewal or guaranty of each security was exempt from the provisions
of Section 6(a) because of:
(a) the provisions contained in the first sentence of Section 6(b) [ ]
(b) the provisions contained in the fourth sentence of Section 6(b) [ ]
(c) the provisions contained in any rule of the Commission other than
Rule U-48 [x]
13. If the security or securities were exempt from the provisions of Section
6(a) by virtue of the first sentence of Section 6(b), give the figures
which indicate that the security or securities aggregate (together with
all other then outstanding notes and drafts of a maturity of nine months
or less, exclusive of days of grace, as to which such company is primarily
or secondarily liable) not more than 5 percentum of the principal amount
and par value of the other securities of such company then outstanding.
(Demand notes, regardless of how long they may have been outstanding,
shall be considered as maturing in not more than nine months for purposes
of the exemption from Section 6(a) of the Act granted by the first
sentence of Section 6(b)):
Not applicable.
14. If the security or securities are exempt from the provisions of Section
6(a) because of the fourth sentence of Section 6(b), name the security
outstanding on January 1, 1935, pursuant to the terms of which the
security or securities herein described have been issued:
Not applicable.
15. If the security or securities are exempt form the provisions of Section
6(a) because of any rule of the Commission other than Rule U-48, designate
the rule under which exemption is claimed.
Rule 52.
THE TOLEDO EDISON COMPANY
By:_____________________________
Thomas Navin
Treasurer
Date: April 15, 2002
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