Public Service Enterprise Group Announces Redemption of 8.75% Deferrable Interest Junior Subordinated Debentures, Series D
Public Service Enterprise Group Incorporated (PSEG) announces that it has called for full redemption on December 17, 2007, $180,000,000 of its 8.75% deferrable interest junior subordinated debentures, series D due 2032 (CUSIP #69361X204) at 100% of the principal amount (the redemption price) together with interest accrued to the redemption date.
The redemption agent for the issue is U.S. Bank National Association.
This redemption caps a full year of debt reduction activity. PSEG met $460 million of trust preferred securities which matured in November 2007, and, in May 2007, PSEG redeemed the $375 million outstanding of its floating rate notes due 2007 at 100% of the principal amount.
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