Art Beattie, executive vice president, chief financial officer and treasurer of Alabama Power Company, announced today that the company and the Industrial Development Board of the Town of Wilsonville closed the sale of $21,450,000 of pollution control revenue refunding bonds. The new bonds will be due Jan. 1, 2024.

The proceeds from the sale of these bonds will be applied to the full redemption of the Board's Pollution Control Revenue Refunding Bonds, Series C (Alabama Power Company Gaston Plant Project) (the "Series C Bonds"). The redemption price is 100 percent of the principal amount thereof plus accrued interest to the date of redemption.

Redemption notices will be mailed to registered holders of the Series C Bonds at least 30 days before the date fixed for redemption.

Alabama Power, a Southern Company subsidiary, is an investor-owned electric utility serving more than 1.4 million customers in the southern two- thirds of Alabama.

SOURCE: Alabama Power