Savannah Electric and Power Company announces redemption of Trust Preferred Securities
SAVANNAH Savannah Electric and Power Company today announced the planned redemption on January 16, 2004 of all $40 million aggregate liquidation amount of the Savannah Electric and Power Company Capital Trust I 6.85% Trust Preferred Securities due December 31, 2028.
The redemption price for the full redemption of the Savannah Electric and Power Company Capital Trust I 6.85% Trust Preferred Securities will be $25 per Preferred Security plus accrued and unpaid distributions thereon to the redemption date.
The Bank of New York, as Property Trustee, will notify each registered holder by first class mail on December 17, 2003. The Bank of New York is located at 101 Barclay Street, 21 West, New York, New York 10286. The books will be closed on the redemption date.