By Andrea Heisinger
New York, June 23 - Gulf Power Co. added $15 million to its new issue of one-year senior floating-rate notes on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A/A) priced at par to yield three-month Libor plus 10 basis points. They have interest paid quarterly and are non-callable.
Total issuance is $140 million, including $125 million priced Monday.
Morgan Stanley & Co. Inc. was the bookrunner.
Proceeds will be used to repay a portion of short-term debt and for general corporate purposes, including the company's continuous construction program.
The electric subsidiary of the Southern Co. is based in Pensacola, Fla.
| Issuer: | Gulf Power Co.
|
| Issue: | Senior floating-rate notes
|
| Amount: | $15 million add-on
|
| Maturity: | June 28, 2010
|
| Bookrunner: | Morgan Stanley & Co. Inc.
|
| Coupon: | Three-month Libor plus 10 bps, paid quarterly
|
| Price: | Par
|
| Yield: | Three-month Libor plus 10 bps
|
| Call: | Non-callable
|
| Trade date: | June 23
|
| Settlement date: | June 26
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Total issuance: | $140 million, including $125 million priced June 22
|
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