Hunton Andrews Kurth Represents Remarketing Agent in Connection with Alabama Power Company’s $120 Million Tax-Exempt Remarketing

Hunton Andrews Kurth LLP represented the remarketing agent in connection with Alabama Power Company’s tax-exempt remarketing. The firm acted as counsel to Stifel, Nicolaus & Company, Incorporated, as the remarketing agent for the remarketing of $120 million of The Industrial Development Board of the City of Mobile, Alabama Pollution Control Revenue Bonds (Alabama Power Company Barry Plant Project), Series 2008 (the “Bonds”).

The Bonds were initially issued by The Industrial Development Board of the City of Mobile to provide funds to finance a portion of the costs of the acquisition, construction, installation, equipping and sale to Alabama Power Company (“APC”) of pollution control and environmental improvement facilities at the James M. Barry Electric Generating Plant, which is located near the City of Mobile, in Mobile County, Alabama.

APC is a wholly owned subsidiary of The Southern Company. APC 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 Steven C. Friend, Patrick C. Jamieson, Michelle G. Chan and Monika M. Dziewa. Chris Kulp provided tax advice.