By Andrea Heisinger
New York, Jan. 13 - Georgia Power Co. priced $300 million of two-year senior floating-rate notes, series 2011A, on Thursday at par to yield three-month Libor plus 27 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/A/A+) are callable on or after Jan. 18, 2012 at par.
Goldman Sachs & Co. and RBS Securities Inc. were the bookrunners. Co-manager was Samuel A. Ramirez & Co., Inc.
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 electric utility subsidiary of the Southern Co. is based in Atlanta.
| Issuer: | Georgia Power Co.
|
| Issue: | Senior floating-rate notes, series 2011A
|
| Amount: | $300 million
|
| Maturity: | Jan. 15, 2013
|
| Bookrunners: | Goldman Sachs & Co., RBS Securities Inc.
|
| Co-manager: | Samuel A. Ramirez & Co., Inc.
|
| Coupon: | Three-month Libor plus 27 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 27 bps
|
| Call: | On or after Jan. 18, 2012 at par
|
| Trade date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A+
|
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