Summary
Southern Company (SO) filed an 8-K on August 21, 2014, to report on the issuance of new senior notes. The company successfully raised $750 million in aggregate principal amount through the sale of two series of notes: $400 million of Series 2014A Senior Notes due August 15, 2017, with a 1.30% coupon, and $350 million of Series 2014B Senior Notes due September 1, 2019, with a 2.15% coupon. These notes were issued under the company's existing shelf registration statement, indicating a routine financing activity. The filing also includes details on the underwriting agreements and supplemental indentures related to these note issuances, as well as legal opinions and the computation of the company's ratio of earnings to fixed charges.
Key Highlights
- 1Southern Company successfully issued $750 million in aggregate principal amount of new senior notes.
- 2The issuance comprises $400 million of Series 2014A Senior Notes due August 15, 2017, at a 1.30% interest rate.
- 3The issuance also includes $350 million of Series 2014B Senior Notes due September 1, 2019, at a 2.15% interest rate.
- 4These notes were registered under the company's existing shelf registration statement, indicating a well-established financing program.
- 5The filing provides details on the underwriting agreements and supplemental indentures governing the new debt.
- 6Included are legal opinions from Troutman Sanders LLP and the company's ratio of earnings to fixed charges calculation.