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Alabama Power prices $300 million notes; Host Hotels sells $650 million green notes
By Devika Patel
Knoxville, Tenn., Sept. 12 – Primary activity in the investment-grade bond market waned late in the week, with only two new deals launched on Thursday.
Birmingham, Ala.-based power company Alabama Power Co. priced $600 million of 3.45% senior notes due Oct. 1, 2049 with a spread of 120 basis points over Treasuries.
The notes priced at 99.665 to yield 3.468%.
BofA Securities, Inc., Mizuho Securities USA Inc., MUFG, Scotia Capital (USA) Inc. and Wells Fargo Securities LLC were the bookrunners.
Bethesda, Md.-based real estate investment trust Host Hotels & Resorts, LP sold $650 million of 3.375% green senior notes due 2029.
Host Hotels priced the notes at 99.218 to yield 3.467%, or 168 basis points over Treasuries.
Wells Fargo Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used for eligible green projects.
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