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.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

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

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