Georgia Power to sell fixed-rate senior notes via five bookrunners

By Marisa Wong

Los Angeles, Feb. 20 – Georgia Power Co. is offering series 2024A fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature an optional make-whole call, followed by an optional par call some months prior to maturity.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Truist Securities, Inc. are the joint bookrunners.

Computershare Trust Co., NA is the trustee.

Troutman Pepper Hamilton Sanders LLP will be counsel to the issuer. Hunton Andrews Kurth LLP, New York will be counsel for the underwriters.

Concurrently, the company is also offering series 2024B fixed-rate senior notes.

The company intends to use proceeds from both series to repay all or a portion of the $250 million outstanding under an uncommitted credit facility and its outstanding commercial paper borrowings totaling roughly $475 million as of Feb. 19. Any remaining funds will be used for other general corporate purposes, including the company’s continuous construction program.

Georgia Power is an Atlanta-based electric utility and wholly owned subsidiary of Southern Co.

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