[Federal Register Volume 64, Number 224 (Monday, November 22, 1999)]
[Notices]
[Page 63833]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-30317]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[File No. 1-1414]


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration; (Pacific Bell, Ten Year 7\1/4\% Notes, Due July 1, 
2002; Twelve 6\1/4\% Notes, Due March 1, 2005; Thirty-Three Year 7\1/
8\% Debentures, Due March 15, 2026; Forty Year 7\1/2\% Debentures, Due 
February 1, 2033; Thirty Year 6\7/8\% Debentures, Due August 15, 2003; 
and Forty-One Year 6\5/8\% Debentures, Due October 15, 2034)

November 16, 1999.
    Pacific Bell, a California corporation (``Company'') an indirect, 
wholly-owned subsidiary of SBC Communications Inc. (``SBC''), has filed 
an application with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 12(d) of the Securities Exchange 
Act of 1934 (``Act'') and Rule 12d2-2(d) promulgated thereunder, to 
withdraw the securities specified above (``Securities'') from listing 
and registration on the New York Stock Exchange, Inc. (``NYSE'' or 
``Exchange'').
    On September 27, 1999, the Company's Board of Directors, in 
compliance with NYSE Rule 500, adopted a resolution to withdraw the 
Securities from listing and registration on the Exchange. The Company, 
in making the determination to seek such withdrawal, has cited the 
following factors in its application to the Commission:
     Each of the Securities currently has a limited number of 
registered holders.
     The Securities trade infrequently on the Exchange and the 
Company does not anticipate that such trading volume might increase 
appreciably.
     The costs associated with the continued listing of the 
Securities are prohibitive, given the limited trading volume.
     Both the Company and SBC are currently reporting companies 
under the Act and each files annual and periodic reports with the 
Commission, but the Company is seeking to avoid the costs it incurs in 
preparing such annual and periodic reports by obtaining from the 
Commission an exemption from the Act's reporting requirements. SBC has 
therefore proposed to guarantee certain of the Company's debt 
securities owned by more than 300 registered holders. Based on this 
proposed guaranty, and in conjunction with its application to withdraw 
its Securities from listing and registration on the NYSE, the Company 
has sought exemption from the Act's reporting requirements as provided 
in certain circumstances by Section 12(h) of the Act.
     The Company is not obligated by the terms of the indenture 
under which the Securities were issued or by any other document to 
maintain the Securities' listings on the NYSE or any other exchange.
    The Company has stated in its application to the Commission that it 
has complied with the requirements of NYSE Rule 500 and that the 
Exchange has indicated it will not interpose any objection to the 
withdrawal of the Securities.
    Any interested person may, on or before December 7, 1999, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, N.W., Washington, D.C. 20549-0609, facts bearing upon 
whether the application has been made in accordance with the rules of 
the Exchange and what terms, if any, should be imposed by the 
Commission for the protection of investors. 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.
Jonathan G. Katz,
Secretary.
[FR Doc. 99-30317 Filed 11-19-99; 8:45 am]
BILLING CODE 8010-01-M