By Andrea Heisinger
New York, Dec. 8 - Georgia Power Co. sold $500 million of 4.25% 10-year notes on Tuesday to yield Treasuries plus 90 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A/A+) priced at 99.744 to yield 4.282%. They have a make-whole call at 15 bps over Treasuries.
Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Mizuho Securities USA Inc. ran the books.
Co-managers were RBS Securities Inc., Wells Fargo Securities, Williams Capital Group LP, Jackson Securities and Commerzbank Corporates & Markets.
The proceeds will be used to repay a portion of outstanding short-term debt and for general corporate purposes, including a continuous construction program.
The electric subsidiary of the Southern Co. is based in Atlanta.
| Issuer: | Georgia Power Co.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | Dec. 1, 2019
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Mizuho Securities USA Inc.
|
| Co-managers: | RBS Securities Inc., Wells Fargo Securities, Williams Capital Group LP, Jackson Securities, Commerzbank Corporates & Markets
|
| Coupon: | 4.25%
|
| Price: | 99.744
|
| Yield: | 4.282%
|
| Spread: | Treasuries plus 90 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Trade date: | Dec. 8
|
| Settlement date: | Dec. 15
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
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