November 2, 2022
Hunton Andrews Kurth LLP acted as counsel to PNC Capital Markets LLC, as underwriter, in connection with the issuance of $35 million Mississippi Business Finance Corporation Solid Waste Disposal Facility and Wastewater Facility Revenue Bonds, First Series 2022 (Mississippi Power Company Project) (the “Bonds”). The Bonds are limited special obligations of Mississippi Business Finance Corporation and are payable solely from the loan repayments under a promissory note issued pursuant to a loan agreement related to the Bonds (“Mississippi Power”).
The Bonds were issued to provide funds to finance the acquisition, construction, installation and equipping of the interest of Mississippi Power in certain solid waste disposal facilities and wastewater facilities or portions thereof at the Victor J. Daniel, Jr. electric generating plant in Jackson County, Mississippi.
Mississippi Power is a wholly owned subsidiary of The Southern Company. Mississippi Power is engaged in the generation, transmission, distribution, and purchase of electricity and the sale of electric service within 23 counties of southeastern Mississippi, at retail in 123 communities (including Biloxi, Gulfport, Hattiesburg, Laurel, Meridian and Pascagoula), as well as in rural areas, and at wholesale to one municipality, six rural electric distribution cooperative associations, and one generating and transmitting cooperative.
The Hunton Andrews Kurth team included Steven C. Friend, Patrick C. Jamieson, Michelle G. Chan and Monika M. Dziewa. Brendan M. Staley and Chris Kulp provided tax advice.