Progress Energy files automatic shelf

By Jennifer Chiou

New York, March 31 - Progress Energy, Inc. filed an automatic shelf registration in an S-3ASR filing with the Securities and Exchange Commission.

Covered by the shelf are senior debt securities, junior subordinated debentures, common stock, preferred stock, stock purchase contracts, stock purchase units and guarantees as well as trust preferred securities for Progress Energy Capital Trust I, Progress Energy Capital Trust II and Progress Energy Capital Trust III. Debt securities, trust preferred securities and preferred stock may be structured as convertibles.

Progress Energy will use proceeds to finance its subsidiaries' construction and maintenance programs, to redeem, refund, repurchase or retire debt, to finance acquisitions and for general corporate purposes.

Progress Energy is a Raleigh, N.C., provider of integrated energy with primary operations in the southeastern United States.

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