By Stephen Nakrosis


Georgia Power, an electric subsidiary of Southern Co., said Friday it issued a sustainability bond, adding it was the first such bond by a U.S. utility.

The company said the 3.25% coupon represents the lowest 30-year coupon for a publicly traded bond ever issued by any affiliate of Southern Co.

The bond's net proceeds of about $742 million will be allocated to fund sustainable projects such as spending with diverse and small business suppliers and investments in renewable energy projects, Georgia Power said.


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(END) Dow Jones Newswires

February 26, 2021 16:50 ET (21:50 GMT)

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