By Andrea Heisinger
New York, May 11 - Southern Co. sold $350 million 4.15% five-year senior notes Monday at Treasuries plus 212.5 basis points, according to an FWP Securities and Exchange Commission filing.
The notes (A1/A/AA-) priced at 99.898 to yield 4.173%.
They have a make-whole call at Treasuries plus 35 bps.
Bookrunners were Citigroup Global Markets, Goldman Sachs & Co. and UBS Investment Bank.
Co-managers were Cabrera Capital Markets and Loop Capital Markets.
Proceeds will be used to repay a portion of outstanding short-term debt and for general corporate purposes.
The utility company is based in Atlanta.
| Issuer: | Southern Co.
|
| Issue: | Senior notes
|
| Amount: | $350 million
|
| Maturity: | May 15, 2014
|
| Bookrunners: | Citigroup Global Markets, Goldman Sachs & Co., UBS Investment Bank
|
| Co-managers: | Cabrera Capital Markets, Loop Capital Markets
|
| Coupon: | 4.15%
|
| Price: | 99.898
|
| Yield: | 4.173%
|
| Spread: | Treasuries plus 212.5 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | May 11
|
| Settlement date: | May 19
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: AA-
|
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