Hunton Advises on Alabama Power Company’s $100 Million Qualified Replacement Property Notes
Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Alabama Power Company (Alabama Power) of $100 million aggregate principal amount of Series 2025B Floating Rate Senior Notes due August 15, 2075 (the “Series 2025B Senior Notes”). Alabama Power will pay interest on the Series 2025B 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.
The Hunton Andrews Kurth team included Peter K. O’Brien, Steven C. Friend, Patrick C. Jamieson, Michelle G. Chan, Monika M. Dziewa and Gabrielle Kraushaar. Robert McNamara and William Freeman provided tax advice.
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