By Andrea Heisinger
Omaha, March 12 - Georgia Power Co. priced $250 million two-year floating-rate senior notes Wednesday at par to yield three-month Libor plus 55 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A/A+) pay interest quarterly.
Bookrunners were J.P. Morgan Securities Inc. and Wachovia Capital Securities LLC.
Co-managers were Banc of America Securities LLC and SunTrust Robinson Humphrey, Inc.
Proceeds will be used to repay a portion of outstanding short-term debt.
The electric company is based in Atlanta.
| Issuer: | Georgia Power Co.
|
| Issue: | Floating-rate senior notes
|
| Amount: | $250 million
|
| Maturity: | March 17, 2010
|
| Bookrunners: | J.P. Morgan Securities Inc., Wachovia Capital Securities LLC
|
| Co-managers: | Banc of America Securities LLC, SunTrust Robinson Humphrey, Inc.
|
| Coupon: | Three-month Libor plus 55 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 55 bps
|
| Trade date: | March 12
|
| Settlement date: | March 17
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
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