Hunton Advises on The Southern Company’s $1.65 Billion 3.25% Convertible Senior Notes Offering
Hunton Andrews Kurth LLP advised the initial purchasers in connection with The Southern Company’s offering of $1.65 billion aggregate principal amount of its 3.35% Convertible Senior Notes due 2028 (“Convertible Senior Notes”), which included an additional $200 million in aggregate principal amount of Convertible Senior Notes purchased pursuant to the full exercise of the over-allotment option, in a private placement under Rule 144A of the Securities Act of 1933, as amended.
The Southern Company is the parent company of three traditional electric operating companies, Southern Power Company and Southern Company Gas. The traditional electric operating companies — Alabama Power Company, Georgia Power Company and Mississippi Power Company — are each operating public utility companies providing electric services to retail customers in three Southeastern states of the United States in addition to wholesale customers in the Southeast. Southern Power Company develops, constructs, acquires, owns, operates and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. Southern Company Gas is an energy services holding company whose primary business is the distribution of natural gas in four states – Illinois, Georgia, Virginia and Tennessee – through the natural gas distribution utilities. Southern Company Gas is also involved in several other businesses that are complementary to the distribution of natural gas.
The Hunton team included Peter K. O’Brien, Steven C. Friend, Patrick C. Jamieson, Michelle G. Chan, Monika M. Dziewa and Gabrielle Kraushaar. Robert McNamara, William Freeman, Caitlin Scipioni and Katherine Gallagher provided tax advice.
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