8-K 1 sce8kca0308.htm SCE'S 8-K RE FIRST AMENDMENT TO CREDIT AGMT sce8kca0308



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                                UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                                   FORM 8-K



                                CURRENT REPORT

    Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



       Date of Report (Date of earliest event reported): March 13, 2008



                      SOUTHERN CALIFORNIA EDISON COMPANY
            (Exact name of registrant as specified in its charter)



          CALIFORNIA               001-2313                  95-1240335
 (State or other jurisdiction     (Commission             (I.R.S. Employer
       of incorporation)         File Number)            Identification No.)


                           2244 Walnut Grove Avenue
                                (P.O. Box 800)
                          Rosemead, California 91770
         (Address of principal executive offices, including zip code)

                                 626-302-1212
             (Registrant's telephone number, including area code)

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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
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[  ]  Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))


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               Section 1 - Registrant's Business and Operations

Item 1.01  Entry into a Material Definitive Agreement

      On March 13, 2008, a First Amendment (the "Amendment") to the Amended
and Restated Credit Agreement (the "Credit Agreement") among Southern
California Edison Company ("SCE"), JPMorgan Chase Bank, N.A., as
Administrative Agent, Citicorp North America, Inc., as Syndication Agent, and
Credit Suisse First Boston, Lehman Commercial Paper Inc., and Wells Fargo
Bank, N.A., as Documentation Agents, and the lenders thereto, became
effective.

      The Credit Agreement continues to provide for a $2.5 billion revolving
credit facility at interest rates which are specified in the Credit Agreement
and remain unchanged.  The Amendment extends the current termination date
under the Credit Agreement for one year, from February 23, 2012 to February
25, 2013.  In addition, SCE is permitted thereunder a total of five extension
options (four remaining after the extension implemented by the Amendment),
with an outside termination date of February 23, 2017.  The Amendment further
revises the time periods for notices relating to requests to extend the
termination date.

      The Amendment also establishes a $200,000,000 swingline sub-facility
with JPMorgan Chase Bank, N.A. acting as the initial swingline lender.

      Finally, the Amendment provides SCE with additional Eurodollar interest
period options, and a shortened notice period for requesting Eurodollar loans.

      Many of the investment banking firms that are a party to the Credit
Agreement or their affiliates have in the past performed, and may in the
future from time to time perform, investment banking, financial advisory,
lending and/or commercial banking services for SCE and certain of its
subsidiaries and affiliates, for which service they have in the past
received, and may in the future receive, customary compensation and
reimbursement of expenses.

      The foregoing description is qualified in its entirety by reference to
the full text of the Amendment, filed as Exhibit 10.1 hereto and incorporated
by reference herein.


                Section 9 - Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

(c)   Exhibits

      See the Exhibit Index below.



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                                  SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                       SOUTHERN CALIFORNIA EDISON COMPANY
                                               (Registrant)

                                       /s/ Linda G. Sullivan
                                       -----------------------------
                                       Linda G. Sullivan
                                       Vice President and Controller



March 19, 2008


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                                EXHIBIT INDEX

Exhibit No.     Description

10.1            First Amendment to the Amended and Restated Credit
                Agreement among Southern California Edison Company,
                JPMorgan Chase Bank, N.A., as Administrative Agent,
                Citicorp North America, Inc., as Syndication Agent, and
                Credit Suisse First Boston, Lehman Commercial Paper Inc.,
                and Wells Fargo Bank, N.A., as Documentation Agents, and
                the lenders thereto.


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