|
Southwest Gas Capital II, 7.70% Preferred Trust Securities
Ticker Symbol: SWX-B* CUSIP: 844891200 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/29/2010
Security has been Called for: Monday, March 29, 2010
Feb. 26, 2010 -- Southwest Gas Corporation, as sponsor of Southwest Gas Capital II, announced today that the Trust will redeem all of its outstanding 7.70% Preferred Trust Securities, CUSIP Number of 844891 20 0 on March 29, 2010. The Trust Preferred Securities are listed on the New York Stock Exchange and trade under the symbol SWX-PB. Notice of the redemption was mailed February 25, 2010. Pursuant to the redemption provisions of the Amended and Restated Trust Agreement for Southwest Gas Capital II dated as of August 25, 2003 by and among Southwest Gas Corporation, as Sponsor, The Bank of New York Mellon Trust Company, N.A., as Property Trustee, and BNY Mellon Trust of Delaware, as Delaware Trustee, the Trust Preferred Securities will be redeemed at the redemption price of $25 per Trust Preferred Security plus accumulated and unpaid distributions, if any, up to but excluding the Redemption Date. On and after the Redemption Date, distributions on the Trust Preferred Securities will no longer accumulate, and all rights of the holders of the Trust Preferred Securities, except the right to receive the redemption price plus accumulated and unpaid distributions to the Redemption Date, will cease. Payment will be made to holders of the Trust Preferred Securities on March 29, 2010, only upon presentation and surrender of the Trust Preferred Securities to The Bank of New York Mellon Trust Company, N.A. for cancellation.
|
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: Southwest Gas Capital II, 7.70% Preferred Trust Securities, liquidation amount $25 per share, guaranteed by Southwest Gas Corp. (NYSE: SWX) (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 8/25/2008 at $25 per share plus accrued and unpaid dividends, maturing 9/15/2043, distributions of 7.70% ($1.925) 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 dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 7.70% Junior Subordinated Deferrable Interest Debentures due 9/15/2043 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.
|
Go to Parent Company's Record (SWX)
IPO - 8/21/2003 - 4.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $100.0 Million
|
Company's Online Information Links
|
| 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
|
800-331-1119
|
| Toll Free Phone Number |
800-331-1119 |
| CEO - Michael O. Maffie |
- |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
