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Gulf Power Capital Trust II, 7.00% QUIPS Cumul Qrtly Inc Preferred Sec
Ticker Symbol: GUP-B* CUSIP: 402476204 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/17/2003
Security has been Called for: Friday, October 17, 2003
Sept. 17, 2003 -- Gulf Power Company announced today the planned redemption on October 17, 2003, of all $45 million aggregate liquidation amount of the Gulf Power Capital Trust II 7.00% Cumulative Quarterly Income Preferred Securities due December 31, 2037. The redemption price for the full redemption of the Gulf Power Capital Trust II 7.00% Cumulative Quarterly Income Preferred will be $25 per Preferred Security plus accrued and unpaid distributions thereon to the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Gulf Power Capital Trust II, 7.00% Cumulative Quarterly Income Preferred Securities (QUIPS), liquidation amount $25 per share, guaranteed by Gulf Power Co., a wholly-owned subsidiary of The Southern Co. (NYSE: SO), redeemable at the issuer's option on or after 1/20/2003 at $25 per share plus accrued and unpaid dividends, maturing 12/31/2037, distributions of 7.00% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record at the close of business 15 calendar days prior to the payment date. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (see IPO prospectus for details). The trust's assets consist of the 7.00% Junior Subordinated Deferrable Interest Notes due 12/31/2037 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 (SO)
IPO - 1/14/1998 - 1.80 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $45.4 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: 30 Ivan Allen Jr. Boulevard, N.W., Atlanta, GA 30308 |
| Main Phone Number |
404-506-5000 |
| Fax Number |
404-506-0455 |
| Investor Relations
Glen Kundert
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404-506-5135
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| Toll Free Phone Number |
866-762-6411 |
| CEO - David M. Ratcliffe |
CFO - Thomas A. Fanning |
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