TECO calls remaining 8½% trust preferreds

By Jennifer Chiou

New York, Nov. 14 - TECO Energy Inc. announced it is calling the rest of its 8½% junior subordinated notes, thus causing the redemption of all $100 million of 8½% trust preferred securities issued by TECO Capital Trust I.

The action is part of the company's previously announced redemption and refinancing plan.

TECO said it will pay par plus accrued interest to the redemption date, Dec. 20, for the notes.

The securities will be redeemed at the $25.00 liquidation amount, plus accrued distributions up to the redemption date.

Notices of redemption are being sent to holders of the trust preferred securities. Copies may be obtained from The Bank of New York (212 815-4799).

TECO is a Tampa, Fla.-based energy-related holding company.

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