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Savannah Electric Capital Trust I, 6.85% TruPS Trust Preferred Securities
Ticker Symbol: SVA-* CUSIP: 804788206 Exchange: NYSE
* NOTE: This security is no longer trading as of 1/16/2004
Security has been Called for: Friday, January 16, 2004
Dec 17, 2003 -- 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.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Savannah Electric Capital Trust I, 6.85% Trust Preferred Securities (TruPS), liquidation amount $25 per share, guaranteed by Savannah Electric & Power Co., a wholly-owned subsidiary of the Southern Co. (NYSE: SO), redeemable at the issuer's option on or after 12/09/2003 at $25 per share plus accrued and unpaid dividends, maturing 12/31/2038, distributions of 6.85% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15th calendar dat preeceding 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 6.85% Junior Subordinated Deferrable Interest Debentures due 12/31/2028 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 - 12/4/1998 - 1.60 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $39.8 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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