Gulf Power to redeem some or all series F, H notes with note proceeds

By Tali David

Minneapolis, May 15 - Gulf Power Co. plans to redeem all or a portion of its $61 million 5.6% series F senior insured quarterly notes due April 1, 2033 and/or its $60 million 5.25% series H senior notes due July 15, 2033 with the proceeds from its new senior notes offering, according to 424B5 filed with the Securities and Exchange Commission.

The company will also use the proceeds to repay a portion of its $94 million in short-term debt and for general corporate purposes, including its continuous construction program.

Gulf Power is a Pensacola, Fla.-based electric company.

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