Southern California Edison (SCE) announced the completion of its cash tender offer for its 5.45% Fixed-to-Floating Rate Trust Preference Securities issued by SCE Trust V, a Delaware statutory trust subsidiary. The offer expired on December 19, 2025, at 5 p.m. New York City time.
As of the expiration date, $181,274,175 in aggregate liquidation preference of Trust Securities had been validly tendered and not withdrawn. SCE accepted all such securities for purchase.
The company stated that holders whose securities were accepted will receive $25 per $25 liquidation amount plus accrued and unpaid distributions from the last distribution payment date up to but not including the settlement date. The expected settlement date is December 23, 2025.
All conditions to the offer were either satisfied or waived by SCE as of the expiration date.
SCE has filed an Issuer Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (SEC), which provides additional information about the offer. This document can be accessed at sec.gov.
Barclays Capital Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, and Santander US Capital Markets LLC acted as dealer managers for the transaction. Global Bondholder Services Corporation served as the tender agent and information agent.
Southern California Edison is a subsidiary of Edison International and is one of the largest electric utilities in the United States. It serves approximately 15 million people through five million customer accounts across a service area covering Central, Coastal, and Southern California.
Statements in this press release regarding expectations about the offer or future financings are forward-looking statements and involve risks and uncertainties. “Such statements reflect our current expectations; however, such statements necessarily involve risks and uncertainties. Actual results could differ materially from current expectations. Other important factors are discussed in Southern California Edison’s Form 10-K and other reports filed with the SEC, which are available on our website: edisoninvestor.com. Southern California Edison has no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise,” according to SCE.
