Progress Energy files $2 billion debt, stock, preferred, unit shelf

New York, Jan. 23 - Progress Energy, Inc. filed a $2 billion shelf registration with the Securities and Exchange Commission covering senior debt securities, junior subordinated debentures, common stock, preferred stock, stock purchase contracts, stock purchase units and trust preferred securities.

The Raleigh, N.C. energy company said it would use proceeds to finance its subsidiaries' construction and maintenance programs, to repay or retire outstanding debt, to finance future acquisitions and for other general corporate purposes.

For the 12 months to Sept. 30, 2001, Progress Energy had an earnings to fixed charge ratio of 1.74 times compared to 4.71 times for the same period a year earlier.

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