Southern Company’s $1 Billion Senior Notes Offering

Hunton Andrews Kurth LLP advised the underwriters in the sale of $1 Billion aggregate principal amount of Southern Company Series 2020A 3.70% Senior Notes due April 30, 2030.

The Southern Company announced the offering of $1,000,000,000 of Series 2020A 3.70% Senior Notes due April 30, 2030 . The interest on the Series 2020A Senior Notes is payable semiannually in arrears on April 30 and October 30 of each year, beginning October 30, 2020.

The net proceeds from the sale will be used by the Company to repay all or a portion of its outstanding commercial paper borrowings, which aggregated approximately $260,000,000 as of March 31, 2020, to repay all or a portion of $250,000,000 outstanding under an uncommitted credit facility and to retire all or a portion of its $600,000,000 aggregate principal amount outstanding of Series 2015A 2.750% Senior Notes due June 15, 2020. Any remaining net proceeds will be used for other general corporate purposes, which may include investment by the Company in its subsidiaries.

The underwriters: BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, MUFG Securities Americas Inc., SunTrust Robinson Humphrey, Inc., CIBC World Markets Corp., Banca IMI S.p.A., Santander Investment Securities Inc., Cabrera Capital Markets LLC, Loop Capital Markets LLC, MFR Securities, Inc. and Mischler Financial Group, Inc.

The Company is the parent company of three traditional electric operating companies in addition to 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, to customers.

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: Banca IMI; BNP Paribas Securities; Cabrera Capital Markets; CIBC World Markets Corp.; Citigroup Global Markets Ltd; Goldman Sachs & Co.; Loop Capital Markets; MFR Securities, Inc.; Mischler Financial Group; MUFG Securities Americas Inc. ; Santander Investment Securities Inc.; SunTrust Robinson Humphrey, Inc.;

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Author: Ambrogio Visconti