Loan & DebtAug 6, 2026, 11:25 AM
Southern Co Issues $2.73B Convertible Senior Notes
AI Summary
Southern Company issued a total of $2.73 billion in aggregate principal amount of convertible senior notes. This includes $833.75 million of Series 2026A 2.125% Convertible Senior Notes due December 15, 2027, and $1.8975 billion of Series 2026B 3.50% Convertible Senior Notes due September 15, 2029. The issuance included notes from the exercise of over-allotment options by initial purchasers.
Key Highlights
- Issued $833,750,000 Series 2026A 2.125% Convertible Senior Notes due Dec 15, 2027.
- Issued $1,897,500,000 Series 2026B 3.50% Convertible Senior Notes due Sep 15, 2029.
- Total aggregate principal amount of Convertible Notes issued is $2,731,250,000.
- Initial purchasers exercised over-allotment options for $108,750,000 (Series 2026A) and $247,500,000 (Series 2026B).
- Series 2026A initial conversion rate is 9.5641 shares per $1,000 principal amount.
- Series 2026A initial conversion price is approximately $104.56 per share.
Price Impact
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