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Exelon's BGE Announces Redemption of Trust Preferred Securities

 

BALTIMORE — Baltimore Gas and Electric Company (BGE) today announced that on July 28, 2017, it issued a notice of redemption to the holders of the 6.20% Trust Preferred Securities (CUSIP No. 05541Q206) (the “Securities”) of BGE Capital Trust II, an affiliate of BGE. The Securities were issued under an Indenture dated June 15, 1998, between BGE and The Bank of New York Mellon (as successor in interest to The Bank of New York) as trustee.

As indicated in the notice of redemption, BGE intends to redeem the Securities on August 28, 2017, pursuant to the optional redemption provisions of the Indenture. The redemption price per share is $25.185139, which equals the stated value per share plus accrued and unpaid dividends to, but excluding, the redemption date. 

The redemption shall be made to stockholders of record as of the close of business on August 25, 2017.  No dividends on the Securities being redeemed will accrue on or after the redemption date, nor will any interest accrue on amounts held to pay the redemption price.  Related questions and requests for copies of this redemption notice should be directed to The Bank of New York Mellon at 1-800-254-2826.

 

 

 

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