EX-25.1 6 tm2031450d1_ex25-1.htm EXHIBIT 25.1

EXHIBIT 25.1

 

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UNITED STATES

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)           |__|

___________________________

 

THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A.

(Exact name of trustee as specified in its charter)

 

 

(Jurisdiction of incorporation

if not a U.S. national bank)

 

95-3571558

(I.R.S. employer

identification no.)

 

400 South Hope Street

Suite 500

Los Angeles, California

(Address of principal executive offices)

 

 

 

90071

(Zip code)

 

 

 

___________________________

 

PACIFICORP

(Exact name of obligor as specified in its charter)

 

Oregon

(State or other jurisdiction of

incorporation or organization) 

93-0246090

(I.R.S. employer

identification no.) 

 

825 N.E. Multnomah Street

Portland, Oregon

(Address of principal executive offices)

 

 

 

97232

(Zip code)

 

___________________________

 

First Mortgage Bonds

(Title of the indenture securities)

 

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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  
 

Comptroller of the Currency

United States Department of the Treasury

 

Washington, DC 20219  
  Federal Reserve Bank San Francisco, CA 94105  
       
       
  Federal Deposit Insurance Corporation Washington, DC 20429  

 

 

(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").

 

1.A copy of the articles of association of The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121948 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152875).

 

2.A copy of certificate of authority of the trustee to commence business. (Exhibit 2 to Form T-1 filed with Registration Statement No. 333-121948).

 

3.A copy of the authorization of the trustee to exercise corporate trust powers (Exhibit 3 to Form T-1 filed with Registration Statement No. 333-152875).

 

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4.A copy of the existing by-laws of the trustee (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-229762).

 

6.The consent of the trustee required by Section 321(b) of the Act (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-152875).

 

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, The Bank of New York Mellon Trust Company, N.A., a banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Los Angeles, and State of California, on the 18th day of September, 2020.

 

  THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A.
     
  By: /s/ Manjari Purkayastha         
  Name:   Manjari Purkayastha
  Title:   Vice President

 

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EXHIBIT 7

 

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

of 400 South Hope Street, Suite 500, Los Angeles, CA 90071

 

At the close of business June 30, 2020, published in accordance with Federal regulatory authority instructions.

 

 

  

Dollar amounts

in thousands

    
ASSETS   
    
Cash and balances due from   
depository institutions:   
Noninterest-bearing balances   
and currency and coin  1,667
Interest-bearing balances  325,776
Securities:   
Held-to-maturity securities  0
Available-for-sale securities  148,395
Equity securities with readily determinable fair values not held for trading 0
Federal funds sold and securities   
purchased under agreements to resell:   
Federal funds sold in domestic offices  0
Securities purchased under agreements to resell  0
Loans and lease financing receivables:   
Loans and leases held for sale  0
Loans and leases,   
held for investment 0 
LESS: Allowance for loan and   
lease losses 0 
Loans and leases held for investment,   
net of allowance 0 
Trading assets  0
Premises and fixed assets (including capitalized leases)  20,997
Other real estate owned  0
Investments in unconsolidated subsidiaries and associated companies  0
Direct and indirect investments in real estate ventures  0
Intangible assets  856,313
Other assets  100,715
    
Total assets  $1,453,863

 

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LIABILITIES

 

Deposits:

In domestic offices  1,659
Noninterest-bearing1,659
Interest-bearing      0
Not applicable   
Federal funds purchased and securities   
sold under agreements to repurchase:   
Federal funds purchased  0
Securities sold under agreements to repurchase  0
Trading liabilities  0
Other borrowed money:   
(includes mortgage indebtedness and obligations under capitalized leases)  0
Not applicable   
Not applicable   
Subordinated notes and debentures  0
Other liabilities  258,356
Total liabilities  260,015
Not applicable   
    
EQUITY CAPITAL   
    
Perpetual preferred stock and related surplus  0
Common stock  1,000
Surplus (exclude all surplus related to preferred stock)  324,174
Not available   
Retained earnings  866,668
Accumulated other comprehensive income  2,006
Other equity capital components  0
Not available   
Total bank equity capital  1,193,848
Noncontrolling (minority) interests in consolidated subsidiaries  0
Total equity capital  1,193,848
Total liabilities and equity capital  1,453,863

 

I, Matthew J. McNulty, CFO of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and belief.

 

Matthew J. McNulty       )             CFO

 

We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

Antonio I. Portuondo, President              )

Michael P. Scott, Managing Director      )           Directors (Trustees)

Kevin P. Caffrey, Managing Director     )

 

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