AGL Resources Announces $150 Million Trust Preferred Securities Offering
AGL Resources Inc.
The Trust Preferred Securities are guaranteed by AGL Resources Inc. and provide for quarterly cash distributions at the annual rate of 8.00% per security. The net proceeds resulting from the sale of the Trust Preferred Securities will be used to reduce short-term debt and for general corporate purposes. The company expects the transaction to close on or about May 21, 2001.
AGL Resources Inc. is a regional holding company for energy and infrastructure related businesses in the Southeast. The company is the second-largest natural gas-only distribution company in the United States and serves more than 1.8 million customers throughout Georgia; Chattanooga, Tennessee; and southeastern Virginia. AGL Resources also is engaged through subsidiaries and partnerships in other businesses, including telecommunications, retail energy marketing, wholesale energy services, and wholesale and retail propane sales. More information about the company is available on the Internet at http://www.aglresources.com/ .
SOURCE: AGL Resources Inc.
Contact: investors, Melanie M. Platt, Vice President, Investor