Edison International’s Preferred Stock Offering
November 4, 2021
Cleary Gottlieb is representing the underwriters, led by Citigroup Global Markets Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, and Mizuho Securities USA LLC, in the pricing of Edison International’s public offering of 750,000 shares of its 5% fixed-rate reset cumulative perpetual preferred stock, Series B, with a $1,000 liquidation preference per share.
The offering priced on November 4, 2021, and is expected to close on November 12, 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.