By Aleesia Forni
Virginia Beach, Va., Aug. 12 - Georgia Power Co. priced $200 million series 2013C three-year floating-rate senior notes (A3/A/A+) at par to yield Libor plus 40 basis points, according to a filing with the Securities and Exchange Commission.
Barclays and SunTrust Robinson Humphrey Inc. were the joint bookrunners.
Proceeds from the offering will be used to repay $100 million of the company's outstanding series Q 4.9% senior notes due Sept. 15, 2013 and a portion of its $500 million outstanding series 2010D 1.3% senior notes due Sept. 15, 2013.
The electric utility is based in Atlanta.
| Issuer: | Georgia Power Co.
|
| Amount: | $200 million
|
| Description: | Series 2013C senior notes
|
| Maturity: | Aug. 15, 2016
|
| Joint bookrunners | : | Barclays, SunTrust Robinson Humphrey Inc.
|
| Coupon: | Libor plus 40 bps
|
| Price: | Par
|
| Yield: | Libor plus 40 bps
|
| Call features: | Callable in whole or in part on or after Aug. 15, 2014 at par
|
| Trade date: | Aug. 12
|
| Settlement date: | Aug. 16
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Distribution: | SEC registered
|
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