Georgia Power selling minimum $300 million 30-year bonds Tuesday

By Andrea Heisinger

New York, March 12 - Georgia Power Co. is expected to price at least $300 million of 30-year senior notes (A3/A/A+) in Tuesday's session, a market source said.

Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and UBS Securities LLC are the bookrunners.

Proceeds will be used to repay $350 million of series 2010A floating-rate senior notes due March 15, 2013, to repay a portion of outstanding short-term debt totaling about $382 million and for general corporate purposes.

The electric utility is based in Atlanta.

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