Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Edison International    EIX

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Southern California Edison : Announces Redemption of SCE Trust I 5.625% Trust Preference Securities

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/20/2017 | 12:33am CEST

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.


© Business Wire 2017
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EDISON INTERNATIONAL
10/14 EDISON INTERNATIONAL : Girl Scouts receive Edison STEM grant
10/11 EDISON INTERNATIONAL : Commission Continues San Onofre Nuclear Plant Settlement ..
10/05 EDISON INTERNATIONAL : to Hold Conference Call on Third Quarter 2017 Financial R..
10/04 EDISON INTERNATIONAL : Apply Now to Reap the Rewards of $1.2 Million Edison Scho..
10/04 EDISON INTERNATIONAL : Apply Now to Reap the Rewards of $1.2 Million Edison Scho..
10/03 EDISON INTERNATIONAL : to Hold Conference Call on Third Quarter 2017 Financial R..
09/28 EDISON INTERNATIONAL : ex-dividend day
09/11 EDISON INSIGHTS CONFERENCE CALL : Edison International to Discuss Edison Energy ..
09/11 ADVISORY FOR MONDAY, SEPTEMBER 18 : Edison Insights Conference Call: Edison Inte..
09/11 EDISON INTERNATIONAL : SCE Gets Ontario Charged Up for National Drive Electric W..
More news
News from SeekingAlpha
10/18 DIVIDEND CONTENDERS : 39 Increases Expected By December 31
10/10 VALUATION DASHBOARD : Utilities - Update
09/21 Dividend Growth Stocks Going Ex-Div September 25-29th
09/19 Edison International (EIX) Strategy Overview (Edison Insights Series) - Slide..
09/12 Edison International Is California Dreamin'
Financials ($)
Sales 2017 12 552 M
EBIT 2017 2 387 M
Net income 2017 1 396 M
Debt 2017 14 865 M
Yield 2017 2,75%
P/E ratio 2017 18,73
P/E ratio 2018 18,74
EV / Sales 2017 3,25x
EV / Sales 2018 3,27x
Capitalization 25 935 M
Chart EDISON INTERNATIONAL
Duration : Period :
Edison International Technical Analysis Chart | EIX | US2810201077 | 4-Traders
Technical analysis trends EDISON INTERNATIONAL
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 84,0 $
Spread / Average Target 5,6%
EPS Revisions
Managers
NameTitle
Pedro J. Pizarro President, Chief Executive Officer & Director
William P. Sullivan Non-Executive Chairman
Maria C. Rigatti Chief Financial Officer & Senior Vice President
Vanessa C. L. Chang Independent Director
Brett W. White Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
EDISON INTERNATIONAL10.39%25 935
DUKE ENERGY CORP12.14%61 547
SOUTHERN CO5.71%52 183
DOMINION ENERGY INC2.99%51 407
IBERDROLA6.93%49 874
EXELON CORPORATION11.52%38 000