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BGE Capital Trust II, 6.20% Trust Preferred Securities
Ticker Symbol: BGE-B* CUSIP: 05541Q206 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/28/2017
Security has been Called for: Monday, August 28, 2017
August 1, 2017 -- Baltimore Gas and Electric Company (BGE) today announced that on July 28, 2017, it issued a notice of redemption to the holders of the 6.20% Trust Preferred Securities (CUSIP No. 05541Q206) of BGE Capital Trust II, an affiliate of BGE. The Securities were issued under an Indenture dated June 15, 1998, between BGE and The Bank of New York Mellon (as successor in interest to The Bank of New York) as trustee. As indicated in the notice of redemption, BGE intends to redeem the Securities on August 28, 2017, pursuant to the optional redemption provisions of the Indenture. The redemption price per share is $25.185139, which equals the stated value per share plus accrued and unpaid dividends to, but excluding, the redemption date.
The redemption shall be made to stockholders of record as of the close of business on August 25, 2017. No dividends on the Securities being redeemed will accrue on or after the redemption date, nor will any interest accrue on amounts held to pay the redemption price. Related questions and requests for copies of this redemption notice should be directed to The Bank of New York Mellon at 1-800-254-2826.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: BGE Capital Trust II, 6.20% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Baltimore Gas & Electric Co., a wholly-owned subsidiary of Constellation Energy Group Inc. (NYSE: CEG) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 11/21/2008 at $25 per share plus accrued and unpaid dividends, maturing 10/15/2043, distributions of 6.20% ($1.55) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 6.20% Junior Subordinated Deferrable Interest Debentures due 10/15/2043 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (EXC)
IPO - 11/14/2003 - 10.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: CHX
Market Value $97.5 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Address and Phone Numbers |
Address: 10 South Dearborn Street, 48th Floor, Chicago, IL 60690 |
Main Phone Number |
312-394-7398 |
Fax Number |
312-394-7251 |
Investor Relations
Daniel Eggers
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312-394-2345
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Toll Free Phone Number |
800-483-3220 |
CEO - Christopher M. Crane |
CFO - Jonathan W. Thayer |
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