Hunton Andrews Kurth Advises on Georgia Power Company’s $1.5 Billion Senior Notes Offerings, Including Landmark Equality Progress Sustainability Bond

Hunton Andrews Kurth LLP advised the underwriters on two SEC-registered offerings by Georgia Power Company (Georgia Power) of $1.5 billion aggregate principal amount, consisting of (i) $700 million Series 2022A 4.70% Senior Notes due May 15, 2032 (the Series 2022A Senior Notes) and (ii) $800 million Series 2022B 5.125% Senior Notes due May 15, 2052 (the Series 2022B Senior Notes). The net proceeds of the Series 2022A Senior Notes will be used to repay all or a portion of the Company’s $250 million outstanding uncommitted credit facility, a $125 million bank term loan and commercial paper borrowings. The net proceeds of the Series 2022B Senior Notes will be used to finance or refinance, in whole or in part, one of more eligible projects designed to advance racial equality, economic opportunity and environmental sustainability, and pending such allocation, will be used to repay all or a portion of the Company’s $250 million outstanding uncommitted credit facility and commercial paper borrowings. Georgia Power is the first corporate issuer to offer bonds designed to advance racial equality, economic opportunity and environmental sustainability.

Georgia Power is a wholly owned subsidiary of The Southern Company. Georgia Power is engaged in the generation, transmission, distribution, and purchase of electricity and the sale of electric service within the State of Georgia, at retail in over 530 cities and towns (including Athens, Atlanta, Augusta, Columbus, Macon, Rome, and Savannah), as well as in rural areas, and at wholesale to OPC, MEAG Power, Dalton, various EMCs and non-affiliated utilities.

The Hunton Andrews Kurth team included Peter K. O’Brien, Steven Friend, Patrick Jamieson and Michelle G. Chan. Robert McNamara and Tim Strother provided tax advice.