Southern California Edison (SCE) announced today that it intends to
redeem all of the outstanding shares of its Series D Preference Stock.
The redemption date will be March 31, 2016, and the redemption price
will be $100 per share of Series D preference Stock plus accrued and
unpaid dividends up to, but excluding the redemption date. SCE intends
to redeem the shares of Series D Preference Stock using the proceeds of
an offering of a new series of preference securities.
All shares of the Series D 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 D Preference Stock,
including accrued and unpaid dividends.
On and after the redemption date, all of the outstanding shares of
Series D Preference Stock shall be deemed no longer to be outstanding,
dividends on the Series D 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160301007143/en/
Copyright Business Wire 2016