Alabama Power pricing $400 million three-year senior notes Tuesday

By Andrea Heisinger

New York, Oct. 9 - Alabama Power Co. is pricing $400 million of three-year senior notes, series 2012B, on Tuesday, an informed source said.

The notes (A2/A) were being talked in the range of 40 basis points to 45 bps over Treasuries.

Morgan Stanley & Co. LLC and RBS Securities Inc. are the bookrunners.

Co-manager is BB&T Capital Markets.

Proceeds will be used for the redemption of $200 million of 6% senior insured monthly notes due Oct. 15, 2037 and for general corporate purposes.

The electric subsidiary of the Southern Co. is based in Birmingham, Ala.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.