Southern California Edison Announces Redemption of Series B and Series C
ROSEMEAD, Calif. -- January 29, 2013
Southern California Edison (SCE) announced today that it intends to redeem all
of the outstanding shares of its Series B and Series C Preference Stock. The
redemption date will be Feb. 28, 2013, and the redemption price will be $100
per share of Series B and C Preference Stock plus accrued and unpaid dividends
up to, but excluding the redemption date. SCE intends to redeem the shares of
Series B and C Preference Stock using the proceeds of a recent offering of
lower-rate preference securities.
All shares of the Series B and C 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 have deposited in escrow for the benefit of the holders the funds
necessary for the aggregate payment of the redemption price.
On and after the redemption date, all of the outstanding shares of Series B
and C Preference Stock shall be deemed no longer to be outstanding, dividends
on the Series B and C 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 4.9million customer accounts in a 50,000-square-mile service area
within central, coastal and southern California.
Southern California Edison
Media Relations Contact:
Charles Coleman, (626) 302-7982
Investor Relations Contact:
Scott Cunningham, (626) 302-2540
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