By Andrea Heisinger
Omaha, May 27 - Georgia Power Co. priced $250 million 5.4% 10-year senior notes on Tuesday to yield Treasuries plus 155 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A/A+) priced at 99.551 to yield 5.459%.
There is a make-whole redemption option of Treasuries plus 25 bps.
Bookrunners were Banc of America Securities LLC and Morgan Stanley & Co., Inc.
Co-managers were Deutsche Bank Securities Inc., HSBC Securities, Scotia Capital and the Williams Capital Group.
Proceeds will be used to repay a portion of outstanding short-term debt and for general corporate purposes, including the company's continuous construction program.
The utility and subsidiary of the Southern Co. is based in Atlanta.
| Issuer: | Georgia Power Co.
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Maturity: | June 1, 2018
|
| Bookrunners: | Banc of America Securities LLC, Morgan Stanley & Co., Inc.
|
| Co-managers: | Deutsche Bank Securities Inc., HSBC Securities, Scotia Capital, the Williams Capital Group
|
| Coupon: | 5.4%
|
| Price: | 99.551
|
| Yield: | 5.459%
|
| Spread: | Treasuries plus 155 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | May 27
|
| Settlement date: | June 5
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
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