Distributions on the Trust Preference Securities will be payable quarterly, in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on June 15, 2014. From and including March 6, 2014 to but excluding March 15, 2024, distributions will accrue and be payable at a rate of 5.75% per annum, payable beginning on June 15, 2014 and ending on March 15, 2024. From and including March 15, 2024, distributions will accrue and be payable at a floating rate equal to the three-month LIBOR plus a spread of 2.99% per annum, payable beginning on June 15, 2024. SCE Trust III will pay distributions on the Trust Preference Securities only from the proceeds, if any, of dividends it receives from us on the Series H Preference Shares. Distributions on the Trust Preference Securities, and dividends on the Series H Preference Shares, will be cumulative from March 6, 2014.
Neither the Trust Preference Securities nor the Series H Preference Shares have a maturity date. At our option, at any time, or from time to time, on or after March 15, 2024 we may redeem the Series H Preference Shares, in whole or in part, at 100% of their liquidation preference, plus accrued and unpaid dividends, if any. In addition, the Series H Preference Shares may be redeemed, in whole, but not in part, at any time prior to March 15, 2024 if certain changes in tax or investment company law or interpretation occur and certain other conditions are satisfied. Upon any redemption of the Series H Preference Shares, a corresponding amount of Trust Preference Securities will be redeemed.
Full Prospectus PDF », Secondary Prospectus PDF », EIX Page »
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Edison International is a holding company. Through its subsidiary, Southern California Edison Company (SCE), which is an investor-owned public utility, Co. is engaged in the business of supplying and delivering electricity to southern California. Co.'s other subsidiary, Edison Energy, LLC, is engaged in the business of providing integrated decarbonization and energy solutions to commercial, institutional and industrial customers. SCE supplies electricity to its customers through transmission and distribution networks. Its transmission facilities, which are located primarily in California but also in Nevada and Arizona, deliver power from generating sources to the distribution network. Preferreds: SCE.PRB, SCE.PRC, SCE.PRD, SCE.PRE, SCE.PRF, SCE.PRG, SCE.PRH, SCE.PRJ, SCE.PRK, SCE.PRL, SCEM Open the EIX Information Page » |
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