Southern Company’s $1 Billion Junior Subordinated Notes Offering

Southern Company's $1 Billion Junior Subordinated Notes Offering

Hunton Andrews Kurth LLP advised the underwriters in the sale of $1,000,000,000 aggregate principal amount of Southern Company Series 2020A 4.95% Junior Subordinated Notes due January 30, 2080.

BofA Securities, Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, J.P. Morgan Securities LLC, RBC Capital Markets LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc, SunTrust Robinson Humphrey Inc, US Bancorp Investments Inc, Samuel A. Ramirez & Company Inc and Loop Capital Markets LLC acted as underwriters in the offering.

The Company is the parent company of three traditional electric operating companies, Southern Power Company, Southern Company Gas, PowerSecure Inc. and other direct and indirect subsidiaries. The traditional electric operating companies – Alabama Power Company, Georgia Power Company and Mississippi Power Company – are vertically integrated utilities providing electric service in three Southeastern states of the United States. Southern Power Company develops, constructs, acquires, owns and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. Southern Company Gas distributes natural gas through the natural gas distribution utilities in four states and is involved in several other complementary businesses including gas pipeline investments, wholesale gas services and gas marketing services. PowerSecure Inc. is a provider of energy solutions, including distributed energy infrastructure and energy efficiency products and services.

The Hunton Andrews Kurth team included Bud Ellis (Picture), Steve Friend, Patrick Jamieson and Michelle G. Chan. Cary Tolley and Anna Page provided tax advice.

Involved fees earner: Michelle Chan – Hunton Andrew Kurth; Bud Ellis – Hunton Andrew Kurth; Steven Friend – Hunton Andrew Kurth; Patrick Jamieson – Hunton Andrew Kurth; Anna Knecht Page – Hunton Andrew Kurth; Cary Tolley – Hunton Andrew Kurth;

Law Firms: Hunton Andrew Kurth;

Clients: Bank of America Securities; JP Morgan Securities; Loop Capital Markets; Morgan Stanley; PNC Capital Markets LLC; RBC Capital Markets; Samuel A. Ramirez & Company, Inc.; Scotia Capital Inc.; SunTrust Robinson Humphrey, Inc.; US Bancorp Investments Inc.; Wells Fargo Securities;

Author: Ambrogio Visconti