Consolidated Edison, Inc. announced the optional redemption of its New York State Energy Research and Development Authority Facilities Revenue Bonds, Series 2010A. This redemption includes four subseries of bonds, each with principal amounts of $56.1 million or $56.2 million. The redemption price is set at 100% of the principal amount, plus accrued and unpaid interest to the redemption date.
The redemption of each subseries is contingent upon the receipt of necessary funds by The Bank of New York Mellon, acting as the paying agent. If these funds are received, the redemption price will become due and payable on the specified redemption date, and interest on the bonds will cease to accrue thereafter. This action is part of the company's ongoing financial management strategy.
This debt redemption allows Con Edison to manage its long-term liabilities and potentially optimize its capital structure. The company is responsible for the information contained in this announcement, which was distributed via Public Technologies.
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