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Georgia Power Co., 5.75% Series T Senior PINES due 1/15/2044
Ticker Symbol: GPW* CUSIP: 373334515 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/27/2010
Security has been Called for: Monday, September 27, 2010
Aug. 26, 2010 -- Georgia Power today announced the planned redemption September 27, 2010 of all $250 million aggregate principal amount of its Series X 5.70% Senior Notes due January 15, 2045, all $125 million aggregate principal amount of its Series W 6% Senior Notes due August 15, 2044, all $100 million aggregate principal amount of its Series T 5.75% Senior Notes due January 15, 2044 and all $35 million aggregate principal amount of Savannah Electric and Power Company Series G 5.75% Senior Notes due December 1, 2044. The redemption price for the full redemption of each series of Senior Notes due will be 100% of the principal amount thereof ($25 per senior note), plus accrued and unpaid interest to the date of redemption.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Georgia Power Co., 5.75% Series T Senior Pulic Income Notes (PINES) due 1/15/2044, issued in $25 denominations, redeemable at the issuer's option on or after 1/23/2009 at $25 per share plus accrued and unpaid interest, maturing 1/15/2044, distributions of 5.75% ($1.4375) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record 15 calendar days prior to the payment date. Distributions paid by these debt securities are interest and as such are NOT eligible for the 15% tax rate on dividends and is also NOT eligible for the dividend received deduction for corporate holders. The PINES are general unsecured, unsubordinated obligations of the Company and will rank equally with all other unsecured and unsubordinated indebtedness of the Company. The PINES 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. See the IPO prospectus for further information on the PINES by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (SO)
IPO - 1/15/2004 - 4.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $100.0 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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