Southern Co. Gas Capital plans to price fixed-rate senior notes

By Marisa Wong

Los Angeles, Sept. 11 – Southern Co. Gas Capital Corp., a wholly owned subsidiary of Southern Co. Gas, is offering series 2023A fixed-rates senior notes, according to a 424B5 filing with the Securities and Exchange Commission. The parent company is guarantor of the notes.

The notes will feature a make-whole call followed by a par call.

BofA Securities, Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. are the joint bookrunners.

Computershare Trust Co., NA is the trustee.

Troutman Pepper Hamilton Sanders LLP will act as counsel for the issuer. Woodburn and Wedge will handle matters of Nevada law. Hunton Andrews Kurth LLP is counsel to the underwriters.

The issuer intends to use proceeds from the sale of the series 2023A notes to repay all or a portion of its commercial paper borrowings, which aggregated $428 million as of Sept. 8, and the $350 million principal amount of its 2.45% senior notes due Oct. 1, 2023. Any remaining proceeds will be used for other general corporate purposes, which may include investment by the parent company in its subsidiaries.

The natural gas distribution company is based in Atlanta.

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