Issuer Delisting; Notice of Application of CITGO Petroleum Corporation To Withdraw its 77/8, 4385 [E6-971]

Download as PDF Federal Register / Vol. 71, No. 17 / Thursday, January 26, 2006 / Notices rwilkins on PROD1PC63 with NOTICES (Commission) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. • Rule 15c2–7 Identification of Quotations. Rule 15c2–7 enumerates the requirements with which all brokers and dealers must comply when submitting a quotation for a security (other than a municipal security) to an inter-dealer quotation system. It is estimated that there are 8,500 brokers and dealers. Industry personnel estimate that approximately 900 notices are filed pursuant to Rule 15c2–7 annually. Based on industry estimates that respondents complying with Rule 15c2–7 spend 30 seconds to add notice of an arrangement and 1 minute to delete notice of an arrangement, the staff estimates that, on an annual basis, respondents spend a total of 11.25 hours to comply with Rule 15c2–7, based upon past submissions. The average cost per hour is approximately $35. Therefore, the total cost of compliance for brokers and dealers is approximately $393.75. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comments to R. Corey Booth, Director/Chief Information Officer, Office of Information Technology, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549. Dated: January 18, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–970 Filed 1–25–06; 8:45 am] 16:10 Jan 25, 2006 Issuer Delisting; Notice of Application of CITGO Petroleum Corporation To Withdraw its 77⁄8% Senior Notes (Due May 15, 2006), From Listing and Registration on the New York Stock Exchange, Inc. File No. 1–14380 January 20, 2006. On January 12, 2006, CITGO Petroleum Corporation, a Delaware corporation (‘‘Issuer’’), filed an application with the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 12(d) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 12d2–2(d) thereunder,2 to withdraw its 77⁄8% senior notes (due May 15, 2006) (‘‘Security’’), from listing and registration on the New York Stock Exchange, Inc. (‘‘NYSE’’). On August 30, 2004, the Board of Directors (‘‘Board’’) of the Issuer adopted resolutions to withdraw the Security from listing and registration on NYSE. The Issuer stated that the Board determined that it is in the best interest of the Issuer and the holders of the Security to delist the Security from NYSE and to withdraw from registration under section 12(b) of the Act.3 The Issuer stated the reasons that factored into the Board’s decision to withdraw the Security from listing on NYSE included a determination that the benefits of continued listing were outweighed by the administrative burdens, particularly since the adoption of the Sarbanes-Oxley Act of 2002 has resulted in more stringent corporate governance rules and increased costs of compliance. The Issuer also stated that in November 2005, the Issuer completed a tender offer for the Security pursuant to Board approval. As a result of such tender offer, only approximately $14,300,000 of the original $200,000,000 face amount of the Security remains outstanding. The Issuer stated in its application that it has complied with the NYSE’s rules governing an issuer’s voluntary withdrawal of a security from listing and registration by complying with all applicable laws in the State of Delaware, in which the Issuer is incorporated, and by providing NYSE with the required documents governing the removal of securities from listing and registration on NYSE. The Issuer’s application relates solely to the withdrawal of the Security from Jkt 205001 U.S.C. 78l(d). CFR 240.12d2–2(d). 3 15 U.S.C. 78l(b). listing on NYSE and from registration under section 12(b) of the Act,4 and shall not affect its obligation to be registered under section 12(g) of the Act.5 Any interested person may, on or before February 10, 2006, comment on the facts bearing upon whether the application has been made in accordance with the rules of NYSE, and what terms, if any, should be imposed by the Commission for the protection of investors. All comment letters may be submitted by either of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/delist.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include the File Number 1–14380 or; Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–9303. All submissions should refer to File Number 1–14380. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (http://www.sec.gov/rules/delist.shtml). Comments are also available for public inspection and copying in the Commission’s Public Reference Room. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. The Commission, based on the information submitted to it, will issue an order granting the application after the date mentioned above, unless the Commission determines to order a hearing on the matter. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.6 Nancy M. Morris, Secretary. [FR Doc. E6–971 Filed 1–25–06; 8:45 am] BILLING CODE 8010–01–P 1 15 4 15 2 17 BILLING CODE 8010–01–P VerDate Aug<31>2005 SECURITIES AND EXCHANGE COMMISSION 5 15 PO 00000 Frm 00040 Fmt 4703 U.S.C. 78l(b). U.S.C. 78l(g). 6 17 CFR 200.30–3(a)(1). Sfmt 4703 4385 E:\FR\FM\26JAN1.SGM 26JAN1

Agencies

[Federal Register Volume 71, Number 17 (Thursday, January 26, 2006)]
[Notices]
[Page 4385]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-971]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of CITGO Petroleum 
Corporation To Withdraw its 7\7/8\% Senior Notes (Due May 15, 2006), 
From Listing and Registration on the New York Stock Exchange, Inc. File 
No. 1-14380

January 20, 2006.
    On January 12, 2006, CITGO Petroleum Corporation, a Delaware 
corporation (``Issuer''), filed an application with the Securities and 
Exchange Commission (``Commission''), pursuant to section 12(d) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 12d2-2(d) 
thereunder,\2\ to withdraw its 7\7/8\% senior notes (due May 15, 2006) 
(``Security''), from listing and registration on the New York Stock 
Exchange, Inc. (``NYSE'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    On August 30, 2004, the Board of Directors (``Board'') of the 
Issuer adopted resolutions to withdraw the Security from listing and 
registration on NYSE. The Issuer stated that the Board determined that 
it is in the best interest of the Issuer and the holders of the 
Security to delist the Security from NYSE and to withdraw from 
registration under section 12(b) of the Act.\3\ The Issuer stated the 
reasons that factored into the Board's decision to withdraw the 
Security from listing on NYSE included a determination that the 
benefits of continued listing were outweighed by the administrative 
burdens, particularly since the adoption of the Sarbanes-Oxley Act of 
2002 has resulted in more stringent corporate governance rules and 
increased costs of compliance. The Issuer also stated that in November 
2005, the Issuer completed a tender offer for the Security pursuant to 
Board approval. As a result of such tender offer, only approximately 
$14,300,000 of the original $200,000,000 face amount of the Security 
remains outstanding.
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    \3\ 15 U.S.C. 78l(b).
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    The Issuer stated in its application that it has complied with the 
NYSE's rules governing an issuer's voluntary withdrawal of a security 
from listing and registration by complying with all applicable laws in 
the State of Delaware, in which the Issuer is incorporated, and by 
providing NYSE with the required documents governing the removal of 
securities from listing and registration on NYSE.
    The Issuer's application relates solely to the withdrawal of the 
Security from listing on NYSE and from registration under section 12(b) 
of the Act,\4\ and shall not affect its obligation to be registered 
under section 12(g) of the Act.\5\
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    \4\ 15 U.S.C. 78l(b).
    \5\ 15 U.S.C. 78l(g).
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    Any interested person may, on or before February 10, 2006, comment 
on the facts bearing upon whether the application has been made in 
accordance with the rules of NYSE, and what terms, if any, should be 
imposed by the Commission for the protection of investors. All comment 
letters may be submitted by either of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/delist.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
the File Number 1-14380 or;

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-9303.
    All submissions should refer to File Number 1-14380. This file 
number should be included on the subject line if e-mail is used. To 
help us process and review your comments more efficiently, please use 
only one method. The Commission will post all comments on the 
Commission's Internet Web site (http://www.sec.gov/rules/delist.shtml). 
Comments are also available for public inspection and copying in the 
Commission's Public Reference Room. All comments received will be 
posted without change; we do not edit personal identifying information 
from submissions. You should submit only information that you wish to 
make available publicly.
    The Commission, based on the information submitted to it, will 
issue an order granting the application after the date mentioned above, 
unless the Commission determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(1).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-971 Filed 1-25-06; 8:45 am]
BILLING CODE 8010-01-P