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Georgia Power Co., 6.60% Series B Senior Notes due 2038
Ticker Symbol: GPB* CUSIP: 373334556 Exchange: NYSE
* NOTE: This security is no longer trading as of 11/26/2003
Security has been Called for: Tuesday, November 25, 2003
Sept. 30, 2003 -- Georgia Power announced today the planned redemption on November 25, 2003 of all $200 million aggregate liquidation amount of the Series B 6.60% Senior Notes due December 31, 2038. Such redemption is conditioned upon the issuance and sale of $200 million aggregate principal amount Georgia Power Company Series R 6% Senior Notes due October 15, 2033, which issuance is scheduled to occur on October 23, 2003. The redemption price for the full redemption of the Series B 6.60% Senior Notes due December 31, 2038 will be 100% of the principal amount thereof ($25 per Senior Note), plus accrued interest to the date of redemption.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Georgia Power Co., Series B, 6.60% Senior Notes, issued in $25 denominations, redeemable at the issuer's option on or after 11/25/2003 at $25 per share plus accrued and unpaid interest, maturing 12/31/2038, distributions of 6.60% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15th calendar day prior to the payment date. The payments of principal and interest when due are insured by a financial guarantee insurance policy issued by Ambac Assurance Corp. 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 Senior 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. See the IPO prospectus for further information on the senior notes by clicking on the ‘Link to IPO Prospectus’ provided below. Georgia Power Co. is a wholly-owned subsidiary of The Southern Co. (NYSE: SO).
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Go to Parent Company's Record (SO)
IPO - 11/23/1998 - 8.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $206.0 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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