Teco Energy adds $1.2 billion to shelf availability

New York, March 7 - Teco Energy, Inc. added $1.2 billion to its shelf registration with the Securities and Exchange Commission for total availability of $1.369 billion, including $169 million of previously registered but unsold securities.

The shelf covers debt securities, preferred stock, common stock, stock purchase contracts, stock purchase units and warrants along with hybrid securities that combine features of these securities.

The Tampa, Fla. electric and gas utility said it would use proceeds for general corporate purposes, which may include investment in subsidiaries, working capital, capital expenditures, repayment of debt and other business opportunities.

For the nine months to Sept. 30, 2001, Teco had an earnings to fixed charge ratio of 2.81 times compared to 2.55 times for all of 2000.

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