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Detroit Edison Co., 7.54% QUIDS Qrtly Income Debt Securities
Ticker Symbol: DTB* CUSIP: 250847696 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/04/2005
Security has been Called for: Friday, March 4, 2005
Feb. 2, 2005 -- Detroit Edison today announced it will redeem all of its 7.375 percent, 7.54 percent and 7.625 percent Quarterly Income Debt Securities (QUIDS) on March 4, 2005. The principal amount of outstanding QUIDS is $385 million. The redemption price for the 7.375 percent QUIDS (NYSE: DTH - News) is $25 per security plus a distribution of $0.31753 per security. (CUSIP: 250847688). The redemption price for the 7.54 percent QUIDS (NYSE: DTB - News) is $25 per security plus a distribution of $0.32464 per security. (CUSIP: 250847696). The redemption price for the 7.625 percent QUIDS (NYSE: DTA - News) is $25 per security plus a distribution of $0.32830 per security. (CUSIP: 250847712)
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QUANTUMONLINE.COM SECURITY DESCRIPTION: The Detroit Edison Co., 7.54% Quarterly Income Debt Securities (QUIDS), Junior Subordinated Deferrable Interest Debentures, issued in $25 denominations, redeemable at the issuer's option on or after 6/30/2003 at $25 per share plus accrued and unpaid interest, maturing 6/30/2028, distributions of 7.54% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record one day prior to the payment date. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (but not beyond the maturity date). Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The QUIDS are unsecured obligations of the company and will rank equally with all existing and future unsecured obligations of the company. See the IPO prospectus for further information on the QUIDS by clicking on the ‘Link to IPO Prospectus’ provided below. The Detroit Edison Co. is a wholly owned subsidiary of DTE Energy Co. (NYSE: DTE).
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Go to Parent Company's Record (DTE)
IPO - 5/1/1998 - 4.00 Million Shares @ $25/share.
Link to IPO Prospectus
Market Value $101.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Energy Plaza, Detroit, Michigan 48226 |
| Main Phone Number |
313-235-4000 |
| Fax Number |
313-235-0611 |
| Investor Relations
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313-235-8030
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| Toll Free Phone Number |
800-551-5009 |
| CEO - Gerard M. Anderson |
CFO - David E. Meador |
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