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Alabama Power Co., 7.00% Senior Notes Series C due 3/31/2048
Ticker Symbol: ABJ** CUSIP: 010392629 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/23/2003
Security has been Called for: Wednesday, April 23, 2003
March 14, 2003 -- Alabama Power Company today closed the sale of $200,000,000 principal amount of its Series V 5.60% Senior Notes due March 15, 2033. The proceeds from the sale of the notes will be used for the full redemption of the company's Series C 7% Senior Notes due March 31, 2048 currently outstanding in the aggregate principal amount of $190,000,000, and for other general corporate purposes. The Series C Senior Notes will be redeemed on or about April 23, 2003, at 100% of the principal amount plus any accrued and unpaid interest to the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Alabama Power Co., 7% Senior Notes, Series C, due 3/31/2048, issued in $25 denominations, redeemable at the issuer's option on or after 4/23/2003 at $25 per share plus accrued and unpaid interest, maturing 3/31/2048, distributions of 7.00% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record at the close of business on the 15th day prior to the payment date. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated obligations of the company. Alabama Power Co. is a wholly-owned subsidiary of the Southern Co. (NYSE: SO). See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (SO)
IPO - 4/21/1998 - 7.60 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $191.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 30 Ivan Allen Jr. Boulevard, N.W., Atlanta, GA 30308 |
| Main Phone Number |
404-506-5000 |
| Fax Number |
404-506-0455 |
| Investor Relations
Glen Kundert
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404-506-5135
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| Toll Free Phone Number |
866-762-6411 |
| CEO - David M. Ratcliffe |
CFO - Thomas A. Fanning |
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