Georgia Power to redeem 6% series 2007E notes with offering proceeds

By Tali David

Minneapolis, Aug. 7 - Georgia Power Co. plans to use the proceeds of its senior note offering to redeem all or a portion of the $250 million of its 6% series 2007E senior insured monthly notes due Sept. 1, 2040, according to a 424B5 filed with the Securities and Exchange Commission.

The remaining proceeds will be used for general corporate purposes, including the company's continuous construction program.

The electric subsidiary of the Southern Co. is based in Atlanta.

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