TECO calls $100 million of 8½% trust preferreds

By Angela McDaniels

Seattle, Nov. 10 - TECO Energy Inc. said it is calling for redemption $100 million of the 8½% trust preferred securities issued by TECO Capital Trust I.

The amount to be redeemed is 50% of the $200 million liquidation amount outstanding.

The redemption date will be Dec 20.

The securities will be redeemed at the $25 liquidation amount, plus accrued distributions up to the redemption date.

Notices of redemption are being sent to holders of the trust preferred securities. Copies may be obtained from The Bank of New York (212 815-3067).

TECO is a Tampa, Fla.-based energy-related holding company.

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