Hunton & Williams Advises Underwriters in $1.3 billion Southern Power Company Senior Notes Offering

Hunton & Williams LLP advised Barclays Capital Inc., BNP Paribas Securities Corp., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc., Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc., as joint book-running managers, on an SEC registered offering by Southern Power Company of $600 million aggregate principal amount of its 1.950% Senior Notes due 2019, $300 million aggregate principal amount of its 2.500% Senior Notes due 2021 and $400 million aggregate principal amount of its 4.950% Senior Notes due 2046. The 2019 and 2021 notes are green bonds. An amount equal to the US dollar equivalent of the net proceeds of the green bonds will be allocated to renewable energy generation projects, including financing of, or investments in, solar and wind power generation facilities located in the United States.

Southern Power Company is a wholly owned subsidiary of The Southern Company and an operating public utility. Southern Power Company and its subsidiaries construct, acquire, own and manage generation assets, including renewable energy projects, and sell electricity at market-based rates in the wholesale market. At October 31, 2016, Southern Power and its subsidiaries owned or had the right to own 46 facilities in twelve states, with more than 12,600 megawatts of generating capacity operating or under construction in Alabama, California, Florida, Georgia, Maine, Minnesota, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina and Texas.

The Hunton & Williams team included Bud Ellis, Steven Friend, Patrick Jamieson and So Yung Kang. Cary Tolley and Anna Page provided tax advice.