El Paso Electric files $1 billion shelf

By Ted A. Knutson

Washington, March 29 - El Paso Electric Co. filed a $1 billion shelf in an S-3 registration with the Securities and Exchange Commission.

The shelf allows the company to issue debt securities, common and preferred stock, warrants, units, purchase contracts, first mortgage bonds and convertibles.

The El Paso, Texas-based energy company said proceeds from offerings authorized by the shelf would be used to refinance or retire first mortgage bonds and for general corporate purposes.

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