Workflow
Series B
icon
Search documents
Edison International Announces Expiration and Results of Tender Offers for Its 5.00% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series B and 5.375% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series A
Businesswire· 2025-12-20 00:02
Core Viewpoint - Edison International has announced the expiration and results of its cash tender offers for its outstanding preferred stocks, specifically the 5.00% Series B and 5.375% Series A [1] Group 1 - The company is conducting cash tender offers to purchase all of its outstanding 5.00% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series B [1] - The company is also offering to purchase its 5.375% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series A, alongside the Series B offer [1]
Edison International Commences Cash Tender Offers to Purchase Any & All of Its 5.00% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series B and 5.375% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series A
Businesswire· 2025-11-20 13:00
Core Viewpoint - Edison International has initiated cash tender offers to purchase all outstanding Series A and Series B Fixed-Rate Reset Cumulative Perpetual Preferred Stock, indicating a strategic move to manage its capital structure and potentially reduce dividend obligations [1][3]. Offer Details - The cash tender offers include the purchase of 5.00% Series B Preferred Stock at $995 per share and 5.375% Series A Preferred Stock at $1,000 per share, plus accrued dividends [2][3]. - The total outstanding liquidation preference for Series B Preferred Stock is approximately $503.45 million, while for Series A Preferred Stock, it is about $1.16 billion [2]. - The offers will expire on December 19, 2025, at 5 p.m. New York City time, unless extended or terminated earlier [2]. Financial Implications - The company plans to finance the offers using cash on hand, which suggests a strong liquidity position [5]. - The accrued dividends will be calculated from the last payment date up to the settlement date, which is expected to occur shortly after the expiration date [3][4]. Regulatory and Procedural Information - The offers are subject to specific conditions outlined in the Offer to Purchase and related materials, which will be provided to record holders and other relevant parties [6][7]. - An Issuer Tender Offer Statement has been filed with the SEC, containing additional information regarding the offers [8]. Company Overview - Edison International is a major electric utility holding company, primarily serving Southern California through its subsidiary, Southern California Edison Company, which delivers electricity to approximately 15 million people [14].
WesBanco Declares Quarterly Cash Dividend upon Its Perpetual Preferred Stock, Series B
Prnewswire· 2025-11-19 21:15
Core Points - WesBanco, Inc. has declared a quarterly cash dividend of $0.5326 per depositary share on its 7.375% Non-Cumulative Perpetual Preferred Stock, Series B, for the period from September 17, 2025, to January 1, 2026 [1] - The cash dividend is payable on January 1, 2026, to shareholders of record on December 15, 2025 [1] Company Overview - WesBanco, Inc. is a diversified, multi-state bank holding company with over 150 years of experience in community-focused financial services [2] - The company has total assets of $27.5 billion, with $7.7 billion in Trust and Investment Services assets under management and $2.6 billion in securities account values as of September 30, 2025 [2]
American National Completes Full Redemption of Outstanding Depositary Shares Representing Interests in its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B
Globenewswire· 2025-10-06 20:15
Core Points - American National Group Inc. has completed the redemption of all 12,000 outstanding shares of its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B, and the corresponding 12,000,000 depositary shares [1][2] - The redemption price for the depositary shares was set at $25.00 per share, totaling $300,000,000, plus any declared but unpaid dividends [1] - The company funded the redemption through the net proceeds from a previously announced sale of $500,000,000 aggregate principal amount of its 7.000% Fixed-Rate Reset Junior Subordinated Notes due 2055 [1] Summary of Actions - All rights related to the Series B Preferred Stock and depositary shares have ceased, except for the right to receive the redemption price [2] - Investors are advised to contact their banks or brokers for information on obtaining the redemption price [2] - The New York Stock Exchange has suspended trading of the depositary shares and filed for their delisting [3] Company Overview - American National Group Inc. offers a wide range of insurance products and services, including retail and institutional annuities, operating through subsidiaries across all 50 U.S. states, the District of Columbia, Puerto Rico, and Bermuda [4]
American National Announces Full Redemption of Outstanding Depositary Shares Representing Interests in its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B and Intent to Voluntarily Delist and Deregister
Globenewswire· 2025-09-05 10:50
Core Viewpoint - American National Group Inc. will redeem all outstanding shares of its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B, on October 6, 2025, affecting 12,000 shares and corresponding depositary shares [1][2]. Group 1: Redemption Details - The redemption price for the Depositary Shares will be $25.00 per share, plus any declared but unpaid dividends and a portion of the quarterly dividend for the current period [2]. - The redemption will be executed through The Depository Trust Company (DTC), with Computershare Inc. acting as the redemption agent [3]. - Upon redemption, all rights related to the Series B Preferred Stock and Depositary Shares will cease, except for the right to receive the redemption price [4]. Group 2: Delisting and Deregistration - Following the redemption, the Company plans to delist the Depositary Shares from the New York Stock Exchange (NYSE) and deregister them with the Securities and Exchange Commission (SEC) [5]. - The Company will file a notification of removal from listing and registration on Form 25 with the SEC, and intends to file a certification on Form 15 for termination of registration [5]. Group 3: Company Overview - American National Group Inc. provides a wide range of insurance products and services through its subsidiaries, operating across all 50 U.S. states [6].
First Horizon Corporation Announces Redemption of Series B Preferred Stock and Corresponding Series B Depositary Shares
Prnewswire· 2025-07-02 11:00
Core Viewpoint - First Horizon Corporation will redeem all outstanding shares of its 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B, on August 1, 2025, with no shares remaining outstanding after the redemption [1][2]. Redemption Details - The redemption price is set at $25.00 per Series B Depository Share, equating to $10,000 per share of Series B Preferred Stock [2]. - Accrued dividends will not be included in the redemption price since the Redemption Date coincides with a dividend payment date [2]. - The regular semi-annual dividend declared in April will be paid separately on August 1, 2025, to shareholders of record as of July 17, 2025 [2]. Company Overview - First Horizon Corporation, with $81.5 billion in assets as of March 31, 2025, is a prominent regional financial services company headquartered in Memphis, TN [4]. - The company operates in 12 states across the southern U.S. and offers a range of services including commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking [4]. - First Horizon has received recognition as one of the nation's best employers by Fortune and Forbes magazines and is listed as a Top 10 Most Reputable U.S. Bank [4].