By Andrea Heisinger
New York, Nov. 12 - Georgia Power Co. priced $100 million 8.2% 40-year senior notes Wednesday at par of $25, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A/A+) priced to yield 8.2%. They are callable at par on or after Nov. 1, 2013.
Bookrunners were Citigroup Global Markets Inc., Morgan Stanley & Co. Inc. and UBS Investment Bank.
Banc of America Securities LLC is the co-manager.
Proceeds will be used to repay a portion of outstanding short-term debt and for general corporate purposes. This includes the company's continuous construction program.
The utility and subsidiary of Southern Co. is based in Atlanta.
Issuer: | Georgia Power Co.
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Issue: | Senior notes
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Amount: | $100 million
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Maturity: | Nov. 1, 2048
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Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. Inc., UBS Investment Bank
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Co-manager: | Banc of America Securities LLC
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Coupon: | 8.2%
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Price: | Par of $25
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Yield: | 8.2%
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Call: | At par on or after Nov. 1, 2013
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Trade date: | Nov. 12
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Settlement date: | Nov. 19
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Ratings: | Moody's: A2
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| Standard & Poor's: A
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| Fitch: A+
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