By Andrea Heisinger
New York, Aug. 13 - Southern Co. priced $600 million two-year senior floating-rate notes Wednesday at par to yield three-month Libor plus 70 basis points, according to an FWP filing with the Securities and Exchange Commission.
The non-callable notes (A3/A-/A) pay interest quarterly.
Bookrunners were J.P. Morgan Securities Inc. and Lehman Brothers Inc.
Proceeds will be used to repay a portion of outstanding short-term debt totaling $639 million.
The electric company is based in Atlanta.
| Issuer: | Southern Co.
|
| Issue: | Senior floating-rate notes
|
| Amount: | $600 million
|
| Maturity: | Aug. 20, 2010
|
| Bookrunners: | J.P. Morgan Securities Inc., Lehman Brothers Inc.
|
| Coupon: | Three-month Libor plus 70 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 70 bps
|
| Call: | Non-callable
|
| Distribution: | SEC registered
|
| Trade date: | Aug. 13
|
| Settlement date: | Aug. 21
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A
|
© 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.
