Southern California Edison Announces Redemption of Series A Preference Stock
August 17 2015 - 6:00PM
Business Wire
Southern California Edison (SCE) announced today that it intends
to redeem all of the outstanding shares of its Series A Preference
Stock. The redemption date will be Sep. 16, 2015, and the
redemption price will be $100 per share of Series A Preference
Stock plus accrued and unpaid dividends up to, but excluding the
redemption date. SCE intends to redeem the shares of Series A
Preference Stock using the proceeds of an offering of a new series
of preference securities.
All shares of the Series A Preference Stock are held through The
Depository Trust Company, and the shares will be redeemed according
to The Depository Trust Company’s procedures. On or before the
redemption date, SCE will deposit in escrow for the benefit of the
holders the funds necessary for the redemption of the Series A
Preference Stock, including accrued and unpaid dividends.
On and after the redemption date, all of the outstanding shares
of Series A Preference Stock shall be deemed no longer to be
outstanding, dividends on the Series A Preference Stock shall cease
to accrue, and all rights with respect to the shares called for
redemption will thereafter cease and terminate at the close of
business on the redemption date, except only the right of the
holders to receive the redemption price, but without interest, upon
surrender of their shares.
Questions relating to, and request for additional copies of, the
notice of redemption and related materials should be directed to
Wells Fargo Bank, N.A. at (800) 347-8625.
This news release does not constitute an offer to sell or a
solicitation of any offer to buy such securities nor shall there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Southern California Edison
An Edison International (NYSE:EIX) company, Southern California
Edison is one of the nation’s largest electric utilities, serving a
population of nearly 14 million via 4.9 million customer
accounts in a 50,000-square-mile service area within central,
coastal and southern California.
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version on businesswire.com: http://www.businesswire.com/news/home/20150817006334/en/
Southern California EdisonMedia Relations Contact:Charles
Coleman, (626) 302-7982orInvestor Relations Contact:Scott
Cunningham, (626) 302-2540
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