Georgia Power plans to redeem some pollution control revenue bonds

By Angela McDaniels

Tacoma, Wash., Sept. 20 - Georgia Power Co. intends to redeem all or a portion of five series of pollution control revenue bonds with the proceeds from an offering of new corporate bonds, according to a 424B5 filing with the Securities and Exchange Commission.

The five series of bonds include:

• The $114.31 million first series 2009 bonds due Jan. 1, 2049 issued through the Development Authority of Burke County of Waynesboro, Ga.;

• $40 million first series 2009 bonds due Jan. 1, 2049 issued through the Development Authority of Monroe County of Forsyth, Ga.;

• $173 million first series 2009 bonds due Dec. 1, 2032 issued through the Development Authority of Bartow County of Cartersville, Ga.;

• $89.2 million second series 2009 bonds due Oct. 1, 2048 issued through the Monroe County authority; and

• $46 million first series 1996 bonds due Oct. 1, 2032 issued through the Burke County authority.

The proceeds from the new notes will also be used for general corporate purposes, including the company's continuous construction program.

Georgia Power, an electric subsidiary of Southern Co., is based in Atlanta.

© 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.