Redemption price for the preferred is $100 per share and will be paid by check upon presentation of the shares called for redemption. The regular quarterly dividend will be paid separately in the usual manner.
This redemption is being made under terms of the sinking fund established for retirement of the issue, which requires Columbus Southern Power to redeem 50,000 shares of this series on Aug. 1 each year. In addition, the company has the non-cumulative option of redeeming an additional 50,000 outstanding shares of the 7% series at the same time.
The notice of redemption is expected to be mailed to holders of record of the shares to be redeemed on or before June 30, 2002. Sinking fund agent is EquiServe Trust Co.
Columbus Southern Power Co. is an operating electric utility subsidiary of American Electric Power (NYSE: AEP).
Contacts
Bette Jo Rozsa
Managing Director, Investor Relations
614/223-2840
Geoffrey Chatas
Vice President, Investor Relations and Corporate Finance
614/223-2873
Bette Jo Rozsa
Managing Director, Investor Relations
614/223-2840
Geoffrey Chatas
Vice President, Investor Relations and Corporate Finance
614/223-2873