May 8, 2023
Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Alabama Power Company (Alabama Power) of $200 million aggregate principal amount of Series 2023A Floating Rate Senior Notes due May 15, 2073 (the “Series 2023A Senior Notes”). Alabama Power will pay interest on the Series 2023A Senior Notes quarterly in arrears at a floating rate equal to compounded SOFR minus 0.35%.
Alabama Power is a wholly-owned subsidiary of The Southern Company. Alabama Power is engaged in the generation, transmission, distribution, and purchase of electricity and the sale of electric service within the State of Alabama, at retail in approximately 400 cities and towns (including Anniston, Birmingham, Gadsden, Mobile, Montgomery, and Tuscaloosa), as well as in rural areas, and at wholesale to 11 municipally-owned electric distribution systems.
The Hunton Andrews Kurth team included Peter K. O’Brien, Steven C. Friend, Patrick C. Jamieson, Michelle G. Chan and Monika M. Dziewa. Robert McNamara provided tax advice.