Edison International’s Preferred Stock Offering
March 2, 2021
Cleary Gottlieb is representing the underwriters, led by Wells Fargo Securities, BofA Securities, J.P. Morgan, and RBC Capital Markets, in the pricing of Edison International’s public offering of 1.25 million shares of its 5.375% fixed-rate reset cumulative perpetual preferred stock, Series A, with a $1,000 liquidation preference per share.
The offering priced on March 2, 2021, and is expected to close on March 9, 2021.
The net proceeds from the offering will be used either to repay commercial paper borrowings or for general corporate purposes. Cleary has been longtime designated underwriters’ counsel on securities offerings by Edison International and its subsidiary Southern California Edison.