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FirstEnergy Corp. Subsidiary To Redeem Securities.

Publication: PR Newswire
Publication Date: 26-MAY-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
AKRON, Ohio, May 26 /PRNewswire-FirstCall/ -- FirstEnergy Corp. announced today that one of its seven electric utility operating companies, The Toledo Edison Company (TE), will redeem approximately $30 million of higher-cost securities in July 2005 to further reduce FirstEnergy's overall financing costs and improve its financial flexibility.

TE will redeem all of its 1,200,000 outstanding shares of Adjustable Rate Preferred Stock, Series A (CUSIP 889175 78 2), on July 1, 2005, at a price of $25.00 per share, plus accrued dividends to the date...

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