Georgia Power to price three tranches of new and reopened notes

By Cristal Cody

Tupelo, Miss., Jan. 8 – Georgia Power Co. is marketing three tranches of new and reopened senior notes (Baa1/A-/A-) on Wednesday, according to an informed source.

The offering includes notes due July 30, 2023 that are initially talked to price with a spread in the Treasuries plus 70 basis points area.

A tranche of notes due Jan. 30, 2050 is initially talked to print in the Treasuries plus 150 bps to 155 bps area.

Georgia Power also plans to reopen its 2.65% notes due Sept. 15, 2029. Initial price talk is in the Treasuries plus 110 bps area.

The company originally sold $350 million of the notes on Sept. 4, 2019 at 99.877 to yield 2.664%, or a spread of 120 bps over Treasuries.

Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, MUFG and Mizuho Securities USA Inc. are the bookrunners.

The electric utility is based in Atlanta.

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