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Empire District Electric Trust I, 8 1/2% Trust Preferred Securities
Ticker Symbol: EDE-D* CUSIP: 291642205 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/30/2009
Security has been Called for: Wednesday, June 30, 2010
May 24, 2010 -- The Empire District Electric Company announced today that it priced an offering of $100,000,000 principal amount of its 4.65% first mortgage bonds. The closing is expected to occur on May 28, 2010. The bonds will mature on June 1, 2020. Interest is payable semi-annually on the bonds on each June 1 and December 1, beginning December 1, 2010. Banc of America Securities LLC and Wells Fargo Securities, LLC are the joint book-running managers and Morgan Keegan & Company, Inc. and U.S. Bancorp Investments, Inc. are co-managers. Funds raised will be used to redeem Empire’s 8½% trust preferred securities (which are expected to be redeemed on or prior to June 30, 2010) and to repay short-term debt which was incurred, in part, to fund the repayment, at maturity, of Empire’s 6½% first mortgage bonds due 2010.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Empire District Electric Trust I, 8 1/2% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by The Empire District Electric Co. (NYSE: EDE) (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 3/01/2006 at $25 per share plus accrued and unpaid dividends, maturing 3/01/2031, distributions of 8 1/2% ($2.125) per annum are paid quarterly on 3/1, 6/1, 9/1 & 12/1 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 8 1/2% Junior Subordinated Deferrable Interest Debentures due 3/01/2031 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 (EDE)
IPO - 2/23/2001 - 2.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $51.9 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: 602 Joplin Street, Joplin, MO 64801 |
| Main Phone Number |
417-625-5100 |
| Fax Number |
417-625-5173 |
| Investor Relations
Janet S. Watson
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417-625-5108
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| Toll Free Phone Number |
800-206-2300 |
| CEO - William L. Gibson |
CFO - G.A. Knapp |
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