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Travelers P&C Capital I, 8.08% Trust Preferred Securities
Ticker Symbol: TAP-X* CUSIP: 893931204 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/09/2003
Security has been Called for: Wednesday, April 9, 2003
March 11, 2003 Travelers Property Casualty Corp. announced today the successful completion of a $1.4 billion debt offering. Approximately $900 million will be used to redeem the amount referred to on its balance sheet as TIGHI-obligated mandatorily redeemable securities of subsidiary trusts holding solely junior subordinated debt securities of TIGHI thereby lowering its annual interest expense. The required redemption notices have been provided and the securities are expected to be redeemed in early April.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Travelers P&C Capital I, 8.08% Trust Preferred Securities, liquidation preference $25, guaranteed by Travelers/Aetna Property Casualty Corp., now Travelers Insurance Group Holdings Inc., a subsidiary of the Citigroup (NYSE: C), redeemable at the issuer's option on or after 4/30/2001 at $25 per share plus accrued dividends, maturing 4/30/2036, distributions are paid quarterly on 3/31, 6/30, 9/30 & 12/31. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters. The trust's assets consist of the 8.08% Junior Subordinated Deferrable Interest Debentures due 4/30/2036 which were purchased from the company using the funds generated from the sale of the preferred securities.
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Go to Parent Company's Record (C)
IPO - 4/26/1996 - 32.00 Million Shares @ $25.00/share.
Previous Ticker Symbol: TAP-A Changed: 3/01/2002
Market Value $806.0 Million
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: One Tower Square, Hartford, CT 06183 |
Main Phone Number |
860-277-0111 |
Fax Number |
860-954-8497 |
Investor Contact
Maria Olivo
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860-277-8330
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Toll Free Phone Number |
888-695-4625 |
CEO - Charles Prince |
CFO - Jay S. Benet |
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