Hunton Andrews Kurth Advises On The Southern Company’s Inaugural Offering of $1.725 Billion 3.875% Convertible Senior Notes

Hunton Andrews Kurth LLP advised the initial purchasers in connection with The Southern Company’s inaugural offering of $1.5 billion aggregate principal amount of its 3.875% Convertible Senior Notes due 2025 in a private placement under Rule 144A of the Securities Act of 1933, as amended, which closed on February 28, 2023. On March 1, 2023, The Southern Company issued an additional $225 million aggregate principal amount of its 3.875% Convertible Senior Notes due 2025 upon the exercise by the initial purchasers of their over-allotment option.

The Southern Company is the parent company of three traditional electric operating companies, Southern Power Company, Southern Company Gas, PowerSecure Inc. and other direct and indirect subsidiaries. The traditional electric operating companies — Alabama Power Company, Georgia Power Company and Mississippi Power Company — are vertically integrated utilities providing electric service in three Southeastern states of the United States. Southern Power Company develops, constructs, acquires, owns and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. Southern Company Gas distributes natural gas through the natural gas distribution utilities in four states and is involved in several other complementary businesses including gas pipeline investments and gas marketing services. PowerSecure Inc. develops distributed energy and resilience solutions and deploys microgrids for commercial, industrial, governmental, and utility customers.

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 and Tim Strother provided tax advice.