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Georgia Power’s $270 million of 5% $25-par subordinated notes admitted to NYSE
By Stephanie N. Rotondo
Seattle, Sept. 25 – Georgia Power Co.’s $270 million of 5% $25-par series 2017A junior subordinated notes due Oct. 1, 2077 listed on the New York Stock Exchange on Monday.
The ticker symbol is “GPJA.”
The deal priced Sept. 18.
BofA Merrill Lynch, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC were the bookrunners.
The notes become callable on Oct. 1, 2022 at par plus accrued interest.
Proceeds will be used to repay all or a portion of the company’s $45 million of 6.125% series class A preferred stock and $225 million of its 6.5% series 2007A preference stock. Any remaining proceeds will be used for general corporate purposes.
Georgia Power is an Atlanta-based electric utility company.
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