Southern Co. files stock, note, trust preferred shelf

By Angela McDaniels

Seattle, Nov. 8 - The Southern Co. filed a shelf registration for an undisclosed amount of securities, according to an S-3ASR report filed with the Securities and Exchange Commission on Wednesday.

The shelf covers common stock, senior notes and junior subordinated notes. Also covered by the shelf are trust preferred securities for Southern Co. Capital Trust VII and Southern Co. Capital Trust VIII, which will be fully and unconditionally guaranteed by Southern Co.

The notes and trust preferred securities may be structured as convertibles.

Southern Co. will use proceeds to refinance oustanding securities or to pay the securities at maturity, to repay short-term debt and for other general corporate purposes. The trusts will use proceeds from the sale of trust preferred securities to purchase Southern Co. junior subordinated notes.

Southern Co. is an electric company based in Atlanta.

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