By Andrea Heisinger
New York, March 9 - Georgia Power Co. sold an upsized $350 million of three-year floating-rate notes on Tuesday at par to yield three-month Libor plus 32 basis points, according to an FWP filing with the Securities and Exchange Commission.
The size was initially $250 million.
The notes (A2/A/A+) have interest paid quarterly and are callable at par on or after March 15, 2012.
Bookrunners were Barclays Capital Inc. and Morgan Stanley & Co. Inc. Co-managers were Commerzbank Corporates and Markets and Ramirez & Co.
Proceeds are being used to repay $250 million of floating-rate notes due on March 17, to repay a portion of short-term debt totaling $239 million and for general corporate purposes.
The electric subsidiary of the Southern Co. is based in Atlanta.
| Issuer: | Georgia Power Co.
|
| Issue: | Floating-rate notes
|
| Amount: | $350 million, increased from $250 million
|
| Maturity: | March 15, 2013
|
| Bookrunners: | Barclays Capital Inc., Morgan Stanley & Co. Inc.
|
| Co-managers: | Commerzbank Corporates and Markets, Ramirez & Co.
|
| Coupon: | Three-month Libor plus 32 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 32 bps
|
| Call: | At par on or after March 15, 2012
|
| Trade date: | March 9
|
| Settlement date: | March 16
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
