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Southwest Gas Capital I, 9.125% TOPrS Trust Orig Preferred Securities
Ticker Symbol: SWX-A* CUSIP: 844887208 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/24/2003
Security has been Called for: Wednesday, September 24, 2003
Sept. 9, 2003 -- Southwest Gas Corporation (NYSE: SWX) has called for redemption all of its 9.125% trust debt securities issued to Southwest Gas Capital I (SWX PA). The redemption will be effective on September 24, 2003. All of the outstanding 9.125% Trust Originated Preferred Securities of Southwest Gas Capital I will also be redeemed on September 24, 2003 at a redemption price of $25 per preferred security, totaling $60 million, plus accrued interest of $1.3 million, in accordance with the terms of the Amended and Restated Declaration of Trust of Southwest Capital I. The redemption will be financed with the proceeds from the recently completed $100 million 7.70% trust preferred securities offering.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Southwest Gas Capital I, 9.125% Trust Originated Preferred Securities (TOPrS), liquidation amount $25 per share, guaranteed by Southwest Gas Corp. (NYSE: SWX), redeemable at the issuer's option on or after 12/31/2000 at $25 per share plus accrued and unpaid dividends, maturing 12/31/2025, distributions of 9.125% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 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 interest payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 9.125% Subordinated Deferrable Interest Debentures due 12/31/2025 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 (SWX)
IPO - 10/27/1995 - 2.40 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $61.7 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: 5241 Spring Mountain Road, Las Vegas, NV 89193 |
| Main Phone Number |
702-876-7237 |
| Fax Number |
702-873-3820 |
| Shareholder Services
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800-331-1119
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| Toll Free Phone Number |
800-331-1119 |
| CEO - Michael O. Maffie |
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