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):

June 8, 2015

 

 

TECO ENERGY, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Florida   1-8180   59-2052286

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

identification No.)

702 N. Franklin Street, Tampa, Florida 33602

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: (813) 228-1111

 

 

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:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Securities 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))

 

 

 

Section 8 – Other Events

 

Item 8.01: Other Events

On June 8, 2015, TECO Energy, Inc. issued a press release regarding the status of the sale of its subsidiary, TECO Coal LLC, which is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Section 9 – Financial Statements and Exhibits

 

Item 9.01: Financial Statements and Exhibits

(d) Exhibits

 

99.1 Press release dated June 8, 2015.

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.

 

Date: June 8, 2015

TECO ENERGY, INC.

(Registrant)
By:

/s/ Charles A. Attal III

Charles A. Attal III
Senior Vice President-General Counsel
and Chief Legal Officer


Exhibit 99.1

 

LOGO

FOR IMMEDIATE RELEASE

TECO ENERGY SUBSIDIARY ENTERS INTO LETTER OF INTENT WITH NEW BUYER FOR TECO COAL

Tampa, Fla. (June 8, 2015) – A subsidiary of TECO Energy, Inc. (NYSE: TE) has entered into a non-binding letter of intent with a new buyer for the sale of all of its interest in TECO Coal LLC.

The sales agreement with Kentucky-based Cambrian Coal Corp. did not close on June 5, 2015, because the buyer could not satisfy the conditions precedent to closing and that agreement is now terminable by either party. The new buyer does not expect to require external financing.

“We believe that moving forward with this new buyer will provide us the best opportunity to exit the coal business for an appropriate value in the current coal markets,” said John Ramil, president and chief executive officer of TECO Energy. “The new buyer has indicated a strong interest in purchasing TECO Coal and has the financial capability to do so. We look forward to successfully completing this transaction as quickly as possible.”

The transaction would be subject to the negotiation of a definitive agreement and obtaining third-party consents, and the parties currently expect to close on the sale on or before July 3, 2015.

TECO Coal segment has been classified as discontinued operations since the third quarter of 2014.

Note: This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Actual results may differ materially from those forecasted. The forward-looking statements are based on the company’s current expectations and assumptions, and the company does not undertake to update that information or any other information contained in this press release, except as may be required by law. Factors that could impact actual results include TECO Energy’s ability to enter into a definitive agreement and successfully close the sale of TECO Coal, either at all or within the currently anticipated time frame. There can be no assurance that a definitive agreement will be reached. Additional information is contained under “Risk Factors” in TECO Energy, Inc.‘s Annual Report on Form 10-K for the period ended Dec. 31, 2014.

TECO Energy Inc. (NYSE: TE) is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico. Tampa Electric serves more than 700,000 customers in West Central Florida; Peoples Gas System serves more than 350,000 customers across Florida; and New Mexico Gas Co. serves more than 510,000 customers across New Mexico. Other TECO Energy subsidiaries include TECO Coal, which owns and operates coal-production facilities in Kentucky, Tennessee and Virginia.

Media Contact: Cherie Jacobs 813.228.4945

Investor Relations Contact: Mark Kane 813.228.1772

TECO Energy

702 N. Franklin St.

Tampa, FL 33602

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