Edison International announced on November 20, 2025, that it has started cash tender offers to purchase any and all of its outstanding 5.00% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series B, and 5.375% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series A. The company is offering $995 per $1,000 liquidation preference for the Series B shares and $1,000 per $1,000 liquidation preference for the Series A shares. In addition to these amounts, holders will receive accrued and unpaid dividends up to but not including the settlement date.
The aggregate liquidation preference outstanding is approximately $503 million for the Series B shares and about $1.16 billion for the Series A shares. The offers are set to expire at 5 p.m., New York City time, on December 19, 2025, unless extended or terminated earlier by Edison International.
According to Edison International, “The Offers will expire on December 19, 2025 at 5 p.m., New York City time, unless the Company extends or earlier terminates either of the Offers (such time and date, as the same may be extended or earlier terminated, the ‘Expiration Date’).”
The company plans to use cash on hand to pay for both the purchase price of validly tendered securities and related fees and expenses. Holders who wish to withdraw their tendered securities may do so any time before the expiration date by following procedures outlined in the Offer to Purchase document.
Details about terms and conditions are provided in documents dated November 20, 2025: “The terms and conditions of the Offers are described in the Offer to Purchase…and accompanying Letter of Transmittal…the ‘Offer Materials’. The Offers are subject to…certain conditions specified in the Offer Materials.”
Edison International has filed an Issuer Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (SEC), which includes additional information about these offers. These documents can be reviewed at sec.gov.
Barclays Capital Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC and Santander US Capital Markets LLC are acting as dealer managers for this process.
Edison International describes itself as one of America’s largest electric utility holding companies with a focus on clean energy through subsidiaries such as Southern California Edison Company—which supplies electricity across Southern California—and Trio (formerly Edison Energy), which provides sustainability advisory services in North America and Europe.
The company notes that forward-looking statements in this announcement involve risks and uncertainties: “Statements contained in this press release about expectations regarding the Offers…are forward-looking statements…Such statements necessarily involve risks and uncertainties. Actual results could differ materially from current expectations.”
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