Hunton Andrews Kurth Advises Underwriters on Georgia Power Company’s $750 Million Senior Notes Offering

Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Georgia Power Company (Georgia Power) of $750 million aggregate principal amount of Series 2021A 3.25% Senior Notes due March 15, 2051. The net proceeds will be used to finance or refinance, in whole or in part, one or more eligible projects consisting of ongoing environmental, renewable, and social initiatives. This offering is the first sustainability bond (with uses pursuant to both the Green Bond Principles and Social Bond Principles) for a domestic utility in the United States.

Georgia Power is a wholly owned subsidiary of The Southern Company. Georgia Power is engaged in the generation, transmission, distribution, and purchase of electricity and the sale of electric service within the State of Georgia, at retail in over 600 communities (including Athens, Atlanta, Augusta, Columbus, Macon, Rome, and Savannah), as well as in rural areas, and at wholesale currently to OPC, MEAG Power, Dalton, various EMCs, and non-affiliated utilities.

The Hunton Andrews Kurth team included Bud Ellis, Peter K. O’Brien, Steven Friend, Patrick Jamieson and Michelle G. Chan.  Robert McNamara and Tim Strother provided tax advice.