By Sheri Kasprzak
New York, April 12 - Georgia Power Co. brought to market $250 million of five-year series 2011B senior notes, according to a 424B5 filing with the Securities and Exchange Commission.
The 3% notes (A3/A/A+) are due April 15, 2016. The notes are priced at 99.973 to yield 3.006%. The spread for the notes came in at Treasuries plus 80 bps.
The notes feature a make-whole call at Treasuries plus 15 bps.
The joint bookrunners for the offering were Barclays Capital Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. Inc.
The co-managers were Credit Agricole (USA) Inc., Mizuho Securities USA Inc. and Williams Capital Group LP.
Proceeds will be used to repay a portion of the company's outstanding short-term debt.
The Atlanta-based company is a subsidiary of the Southern Co., an electric utility.
| Issuer: | Georgia Power Co.
|
| Issue: | Series 2011B senior notes
|
| Amount: | $250 million
|
| Maturity: | April 15, 2016
|
| Bookrunners: | Barclays Capital Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc.
|
| Co-managers: | Credit Agricole (USA) Inc., Mizuho Securities USA Inc., Williams Capital Group LP
|
| Coupon: | 3%
|
| Price: | 99.973
|
| Yield: | 3.006%
|
| Spread: | Treasuries plus 80 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Pricing date: | April 12
|
| Settlement date: | April 19
|
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