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Georgia Power Capital Trust V, 7 1/8% Trust Preferred Securities
Ticker Symbol: GPE-W* CUSIP: 37333R308 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/21/2007
Security has been Called for: Thursday, June 21, 2007
April 27, 2007 -- Georgia Power announced today the planned redemption on June 21, 2007 of all $440 million aggregate liquidation amount of the Georgia Power Capital Trust V 7-1/8% Trust Preferred Securities. The redemption price for the Georgia Power Capital Trust V 7-1/8% Trust Preferred Securities will be $25 per Trust Preferred Security plus accrued and unpaid distributions thereon to the date of redemption. It is expected that The Bank of New York, as Property Trustee, will notify each registered holder by first class mail on or about April 27, 2007. The Bank of New York is located at 101 Barclay Street, New York, New York 10286.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Georgia Power Capital Trust V, 7 1/8% 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 6/21/2007 at $25 per share plus accrued and unpaid dividends, maturing 3/31/2029, distributions of 7 1/8% ($1.78125) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 7 1/8% Junior Subordinated Deferrable Interest Debentures, Series E due 3/31/2042 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 - 6/17/2002 - 16.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $397.0 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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