8-KOther EventsExhibits & Filings

SOUTHERN CO 8-K Report, Corporate Update (Jan 18, 2007)

Filed January 18, 2007For Securities:SOSOJESOJFSOJCSOJDSOMN

Summary

The Southern Company (SO) filed an 8-K on January 17, 2007, to report on a significant debt issuance. On January 11, 2007, the company entered into an Underwriting Agreement for the sale of $500 million aggregate principal amount of its Series 2007A 5.30% Senior Notes, due January 15, 2012. This issuance was registered under the Securities Act of 1933 via a shelf registration statement, indicating the company's ability to access capital markets efficiently. This debt offering provides Southern Company with additional capital, which could be used for various corporate purposes such as funding operations, capital expenditures, or refinancing existing debt. Investors should note the specific coupon rate of 5.30% and the maturity date of January 15, 2012, when assessing the company's financial leverage and debt profile. The filing also lists various exhibits related to the note issuance, including the underwriting agreement, the senior note indenture, and legal opinions.

Key Highlights

  • 1Southern Company issued $500 million in Series 2007A 5.30% Senior Notes due January 15, 2012.
  • 2The debt issuance occurred on January 11, 2007.
  • 3The notes were registered under the Securities Act of 1933 through a shelf registration.
  • 4The filing includes the Underwriting Agreement with multiple underwriters.
  • 5Key indenture documents and legal opinions related to the notes are also filed as exhibits.
  • 6This action indicates Southern Company's active management of its capital structure and access to debt financing.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report on The Southern Company's (SO) entry into an Underwriting Agreement for the issuance and sale of $500 million of its Senior Notes.

The new notes are Series 2007A 5.30% Senior Notes with an aggregate principal amount of $500,000,000 and a maturity date of January 15, 2012. The annual interest rate (coupon) is 5.30%.

This issuance provides Southern Company with $500 million in new capital, increasing its total debt. The specific use of these funds is not detailed in this filing, but it generally allows the company to fund operations, capital expenditures, or manage its overall debt profile. Investors should consider this increased leverage when evaluating the company's financial health.

The underwriters for this debt offering included Barclays Capital Inc., Lehman Brothers Inc., Morgan Keegan & Company, Inc., SunTrust Capital Markets, Inc., and The Williams Capital Group, L.P.