Georgia Power selling $400 million three-year notes Thursday

By Andrea Heisinger

New York, Nov. 8 - Georgia Power Co. is pricing $400 million of three-year medium-term senior notes (A3/A/A+) on Thursday, a market source told Prospect News.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to redeem $100 million of 6.05% senior monthly notes due Dec. 1, 2038 and for general corporate purposes, including the company's continuous construction program.

Georgia Power sold $400 million of 0.75% three-year notes at 42 basis points over Treasuries on Aug. 7.

The electric utility and subsidiary of Southern Co. is based in Atlanta.

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