Southern California Edison Announces Redemption of SCE Trust I 5.625% Trust Preference Securities
June 19 2017 - 6:32PM
Business Wire
Southern California Edison (SCE) announced today that it will
redeem all of the outstanding shares of its Series F Preference
Stock, which will cause SCE Trust I to redeem all of its
outstanding 5.625% Trust Preference Securities (“Trust Preference
Securities”). The redemption date will be July 19, 2017, and the
redemption price will be $25.00 per Trust Preference Security, plus
accrued and unpaid dividends up to, but excluding the redemption
date. The amount of accrued and unpaid distributions to but
excluding July 19, 2017 is $0.13 per Trust Preference Security. SCE
will redeem the Trust Preference Securities using the proceeds of
an offering of a new series of preference securities.
Trust Preference Securities held through The Depository Trust
Company will be redeemed according to The Depository Trust
Company’s procedures. Holders who have their Trust Preference
Securities in brokerage accounts should contact their brokers with
any questions. For Trust Preference Securities not held through The
Depository Trust Company, in order to collect the redemption price,
plus any accrued and unpaid distributions to but excluding July 19,
2017, the Trust Preference Securities must be surrendered to the
Trustee accompanied by proper instruments of assignment and
transfer if payment is to be made other than to the registered
holder(s), at the following address:
First Class/Registered/Certified Mail:
The Bank of New York
Mellon P.O. Box 396 East Syracuse, New York 13057 Attn: Corporate
Trust Operations Express/Overnight Delivery: The Bank of New
York Mellon 111 Sanders Creek East Syracuse, New York 13057 Attn:
Corporate Trust Operations By Hand or in Person: The Bank of
New York Mellon 101 Barclay Street New York, New York 10286 Attn:
Trust Services Window
On and after the redemption date, all of the outstanding Trust
Preference Securities shall be deemed no longer to be outstanding,
dividends on the Trust Preference Securities 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
Trust Preference Securities.
Questions relating to, and request for additional copies of, the
notice of redemption and related materials should be directed to
The Bank of New York Mellon at 312-827-8547.
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/20170619006325/en/
Southern California EdisonMedia Relations Contact:Charles
Coleman, (626) 302-7982orInvestor Relations Contact:Sam Ramraj,
(626) 302-2540
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