Georgia Power issues First Sustainability Bond from a U.S. Utility

Georgia Power announces its first sustainability bond, and the first sustainability bond for a domestic utility in the United States. Bond proceeds will be allocated to fund the company’s environmental, renewable, and social initiatives. The 3.25% coupon represents the lowest 30-year coupon for a publicly-traded bond ever issued by any affiliate of Southern Company, Georgia Power’s parent company, and the lower pricing directly benefits Georgia Power customers.  “The sustainability bond issued today is aligned with our ongoing commitment to building a clean and sustainable energy future for Georgia Power customers and the state,” said Dan Tucker, executive vice president, chief financial officer, and treasurer for Georgia Power. “By allocating the proceeds of this bond to fund our social, environmental and renewable initiatives, the company is able to secure benefits for all customers that will last for up to 30 years by way of long-term, low-cost financing.”  With net proceeds of approximately $742 million to be allocated to fund sustainable projects such as our spending with diverse and small business suppliers and our investments in renewable energy projects, the bond aligns with our ongoing commitments to the community and the continued growth of Georgia Power’s solar portfolio, one of the largest voluntary renewable portfolios in the country.