May. 21 at 3:23 AM
$SO Southern Company prices upsized
$1.45B convertible senior note offering
Southern Company announced the pricing of
$1.45 billion in aggregate principal amount of its Series 2025A 3.25% Convertible Senior Notes due June 15, 2028 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, reflecting an upsize of
$200 million over the previously announced offering size. Interest on the Convertible Notes will be paid semiannually at a rate of 3.25% per annum.
The Convertible Notes will have an initial conversion rate of 8.8077 shares of Southern Company's common stock per
$1,000 principal amount of the Convertible Notes (which is equal to an initial conversion price of approximately
$113.54 per share of common stock), representing an initial conversion premium of approximately 25% above the last reported sale price of Southern Company's common stock on May 20, 2025.
