Georgia Power to price series 2023C floating-rate senior notes

By Marisa Wong

Los Angeles, Nov. 3 – Georgia Power Co. is offering series 2023C floating-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are non-callable but may be purchased at any time and from time to time by tender, in the open market or by private agreement.

Mizuho Securities USA LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc. and Truist Securities, Inc. are the joint bookrunners. TD Securities (USA) LLC is an additional underwriter.

Computershare Trust Co., NA is the trustee.

Troutman Pepper Hamilton Sanders LLP is counsel to the issuer, with Hunton Andrews Kurth LLP acting as counsel to the underwriters.

Proceeds will be used to repay all or a portion of the company’s outstanding commercial paper borrowings, which totaled $550 million as of Nov. 2. Any remaining net proceeds will be used for other general corporate purposes, including the company’s continuous construction program.

The electric utility is based in Atlanta.

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