San Diego Gas calls cumulative preferred stock and preference stock

By Tali David

Minneapolis, Sept. 3 - San Diego Gas & Electric Co. plans to redeem all outstanding shares of its cumulative preferred stock and preference stock according to a notice.

The following will be redeemed at the listed redemption prices on Oct. 15:

• 5% series cumulative preferred stock, $20 par value, at a redemption price of $24 per share;

• 4.5% series cumulative preferred stock, $20 par value, at a redemption price of $21.20 per share;

• 4.4% series cumulative preferred stock, $20 par value, at a redemption price of $21 per share;

• 4.6% series cumulative preferred stock, $20 par value, at a redemption price of $20.25 per share;

• $1.70 series preference stock (cumulative), without par value, at a redemption price of $25 per share; and

• $1.82 series preference stock (cumulative), without par value, at a redemption price of $26 per share.

The cost of the redemption will be about $81.5 million plus all accrued and accumulated dividends to the redemption date.

Wells Fargo Bank, NA is the redemption agent.

The San Diego-based utility is a subsidiary of Sempra Energy.

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