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Georgia Power Capital Trust IV, 6.85% Trust Preferred Securities
Ticker Symbol: GPE-A** CUSIP: 37333R209 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/25/2004
Security has been Called for: Wednesday, February 25, 2004
Jan 20, 2004 -- Georgia Power announced today the planned redemption on February 25, 2004 of all $200 million aggregate liquidation amount of the Georgia Power Capital Trust IV 6.85% Trust Preferred Securities. Such redemption is conditioned upon the issuance and sale of $200 million aggregate liquidation amount of Georgia Power Capital Trust VII 5-7/8% Trust Preferred Securities, which issuance is scheduled to occur on January 23, 2004. The redemption price for the Georgia Power Capital Trust IV 6.85% Trust Preferred Securities will be $25 per Trust Preferred Security plus accrued and unpaid distributions thereon to the date of redemption.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Georgia Power Capital Trust IV, 6.85% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Georgia Power Co. a wholly-owned subsidiary of The Southern Co. (NYSE: SO), redeemable at the issuer's option on or after 2/25/2004 at $25 per share plus accrued and unpaid dividends, maturing 3/31/2029, distributions of 6.85% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15 calendar day prior to the payment date. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 6.85% Junior Subordinated Deferrable Interest Debentures due 3/31/2029 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (SO)
IPO - 2/19/1999 - 8.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $197.0 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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