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Southern California Edison Calls Preferreds and Trust Preferred

Utility Southern California Edison (a division of Edison International EIX) has announced a call of some old preferreds with coupons ranging from a low of 4.08% to 4.78% as well as their 5.10% Trust Preferred shares–the redemption date is 9/27/2020.

All of the old preferred will be redeemed at premiums–with the SCE-D issue garnering a $28.75 redemption price (plus accrued dividends)–it is currently trading at $23.87.

The company has an additional 4 issues of trust preferreds outstanding, but they are not yet callable.

The company press release can be found here.

The issues–SCE-B,C,D,E can be seen here and well as the SCE-G issue.

Thanks to Ptrader for being up early and noting this call.

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