Alabama Power to redeem $150 million 5 5/8% notes via new issue funds

By Susanna Moon

Chicago, Sept. 27 - Alabama Power Co. plans to use some proceeds from an offering of series 2010A callable senior unsecured unsubordinated notes to redeem $150 million principal amount of its series AA 5 5/8% senior notes due April 15, 2034, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds also will be used for other general corporate purposes, including the company's continuous construction program.

The electric subsidiary of the Southern Co. is based in Birmingham, Ala.

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