Alabama Power preps series 2022B, green series 2022C notes offering

Chicago, Aug. 9 – Alabama Power Co. is offering fixed-rate seniors notes, according to a 424B5 filing with the Securities and Exchange Commission.

The series 2022B notes will be conventional bonds, and the series 2022C senior notes are marked green.

The notes will have make-whole calls until a number of months before the maturity date when a par call option will start.

Barclays, Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc. are the joint bookrunners.

Regions Securities LLC, Fifth Third Securities, Inc., KeyBanc Capital Markets Inc., FHN Financial Securities Corp., Hancock Whitney Investment Services, Inc., Drexel Hamilton, LLC, Loop Capital Markets LLC, Penserra Securities LLC, Samuel A. Ramirez & Co., Inc., AmeriVet Securities Inc. and Security Capital Brokerage, Inc. are the co-managers.

Regions Bank is the trustee.

Balch & Bingham LLP and Troutman Pepper Hamilton Sanders LLP are working as counsel for the issuer.

Hunton Andrews Kurth LLP is listed as counsel for the underwriters.

Proceeds from the series 2022B notes will be used for general corporate purposes, including the company’s continuous construction program.

Proceeds from the series 2022C notes will be used for eligible projects under the following categories: renewable energy, climate change adaptation, energy efficiency, clean transportation, green innovation, and diverse and small business suppliers.

The issuer is an electric utility based in Birmingham, Ala., and a wholly owned subsidiary of Southern Co.

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