Hunton Andrews Kurth Advises on The Southern Company’s $1.725 Billion Junior Subordinated Notes Remarketing

Hunton Andrews Kurth LLP advised the remarketing agents on an SEC-registered offering by The Southern Company (the Company) of (i) $862.5 million aggregate principal amount of 4.475% Junior Subordinated Notes due August 1, 2024 and (ii) $862.5 million aggregate principal amount of 5.113% Junior Subordinated Notes due August 1, 2027. This is a remarketing of $1.725 billion aggregate principal amount of the Company’s 2.70%  Series 2019A Junior Subordinated Notes due 2024 and 2.70% Series 2019B Junior Subordinated Notes due 2027 that were originally issued in August 2019 as components of Equity Units (initially consisting of Corporate Units) sold by the Company.

The 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, wholesale gas services and gas marketing services. PowerSecure Inc. is a provider of energy solutions, including distributed energy infrastructure and energy efficiency products and services, to customers.

The Hunton Andrews Kurth team included Peter K. O’Brien, Steve C. Friend, Patrick C. Jamieson and Michelle G. Chan. Robert McNamara and Tim Strother provided tax advice. Leslie Okinaka provided ERISA advice.