- Southern Company ( NYSE: SO ) announced on Thursday a private offering of $1.5B in aggregate principal amount of its convertible senior notes due December 15, 2025.
- The notes will mature on December 15, 2025, unless repurchased or converted.
- Initial purchasers of the notes will be granted an option to purchase, for settlement within a period of 13 days from, and including, the date the convertible notes are first issued, up to an additional $225M of the notes.
- Terms of the offering, including the initial conversion price, interest rate and other terms, will be determined at the time of pricing.
- Net proceeds will be used to repay all or a portion of Southern Company's ( SO ) outstanding commercial paper borrowings. Any remaining proceeds will be used for general corporate purposes, which may include investment in its subsidiaries.
- Shares of the energy provider were down 1% premarket
For further details see:
Southern Company launches $1.5B debt offering