Southern California Edison (SCE) trust preference securities face NYSE delisting
Rhea-AI Filing Summary
Southern California Edison Company is having its Guarantor of 5.375% Fixed-to-Floating Rate Trust Preference Securities removed from listing and registration on the New York Stock Exchange. This occurs through a Form 25 notification under Section 12(b) of the Securities Exchange Act of 1934.
The New York Stock Exchange certifies that it has followed its own rules and SEC Rule 12d2-2 for striking this class of securities, and the issuer is stated to have complied with the exchange’s requirements for withdrawal.
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Insights
Delisting a single trust preference security from NYSE is a focused, administrative change with limited implications for Southern California Edison overall.
The notice concerns Southern California Edison’s role as guarantor of 5.375% Fixed-to-Floating Rate Trust Preference Securities that are being removed from listing and registration on the New York Stock Exchange. This is executed via a Form 25 under Section 12(b) of the Exchange Act and related Rule 12d2-2 provisions.
The language indicates that both the exchange and the issuer have complied with applicable exchange rules and SEC requirements for striking or voluntarily withdrawing this class of securities. The change is specific to this trust preference security rather than the company’s broader capital structure, so its significance depends mainly on the size and role of this particular issue, which is not detailed here.
FAQ
What security of Southern California Edison (SCE) is being removed from the NYSE?
The notification covers Southern California Edison’s role as Guarantor of 5.375% Fixed-to-Floating Rate Trust Preference Securities, which are being removed from listing and registration.
Which exchange is removing the Southern California Edison (SCE) trust preference securities?
The securities are being removed from listing and/or registration on the New York Stock Exchange LLC.
Under what authority are Southern California Edison (SCE) trust preference securities being delisted?
The removal is made via Form 25 under Section 12(b) of the Securities Exchange Act of 1934 and SEC Rule 12d2-2.
What does the Form 25 say about compliance with NYSE and SEC rules for SCE’s securities?
It states that the New York Stock Exchange has complied with its rules to strike this class of securities and that the issuer has complied with the exchange’s rules and 17 CFR 240.12d2-2(c) governing withdrawal.
Does this Form 25 affect all Southern California Edison (SCE) securities?
No, the notification specifically refers to the Guarantor of 5.375% Fixed-to-Floating Rate Trust Preference Securities, not to all of the company’s securities.