San Diego Gas & Electric Announces Redemption Of Preferred And Preference Stock

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Oct 15, 2013, 04:10 ET

SAN DIEGO, Oct. 15, 2013 /PRNewswire/ -- San Diego Gas & Electric (SDG&E) today announced the redemption of all of the issued and outstanding shares of SDG&E Cumulative Preferred Stock and Preference Stock (Cumulative).

The shares of Cumulative Preferred Stock and Preference Stock (Cumulative) are no longer issued and outstanding, and holders of Cumulative Preferred Stock and Preference Stock (Cumulative) will be entitled to receive only the respective redemption prices (including accrued and accumulated dividends through Oct. 15, 2013, the redemption date), without interest, in respect of their shares.

The cost of the redemption, including accrued and accumulated dividends to the redemption date, was approximately $82.6 million.

Record holders of shares of Cumulative Preferred Stock and Preference Stock (Cumulative) who have not yet received the applicable redemption price are encouraged to surrender their share certificates and return a completed Letter of Transmittal to Wells Fargo Bank, N.A., which serves as the redemption agent.

Questions regarding the redemption of Cumulative Preferred Stock and Preference Stock (Cumulative) may be directed to Wells Fargo Bank, N.A. at (800) 468-9716 (toll free) or (651) 450-4064. Requests for additional copies of the notice of redemption and related materials should be directed to the redemption agent.

SDG&E is a regulated public utility that provides safe and reliable energy service to 3.4 million consumers through 1.4 million electric meters and 861,000 natural gas meters in San Diego and southern Orange counties. The utility's service area spans 4,100 square miles. SDG&E is committed to creating ways to help customers save energy and money every day. SDG&E is a subsidiary of Sempra Energy (NYSE: SRE), a Fortune 500 energy services holding company based in San Diego. Connect with SDG&E's Customer Contact Center at 800-411-7343, Twitter (@SDGE) and Facebook.

Sempra International, LLC, and Sempra U.S. Gas & Power, LLC, are not the same companies as San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas) and Sempra International, LLC and Sempra U.S. Gas & Power, LLC are not regulated by the California Public Utilities Commission. Sempra International's underlying entities include Sempra Mexico and Sempra South American Utilities. Sempra U.S. Gas & Power's underlying entities include Sempra Renewables and Sempra Natural Gas.

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SOURCE San Diego Gas & Electric (SDG&E)