Southern Electric Generating Company Closes the Sale of Pollution Control Revenue Refunding Bonds and Confirms Redemption of Pollution Control Refunding Bonds
William B. Hutchins, III, Vice President of Southern Electric Generating Company, announced today that the Company and The Industrial Development Board of the Town of Wilsonville, Alabama, closed the sale of $24,500,000 of variable rate pollution control revenue refunding bonds on June 19, 2001. The new bonds will be due June 1, 2019.
The proceeds from the sale of these bonds will be applied to the full redemption of the following series of Pollution Control Revenue Refunding Bonds on August 1, 2001:
Industrial Principal Maturity Redemption Price Development Board Amount Series Date As % of Principal Town of Wilsonville $24,500,000 C - 6.75% 02/01/15 102%
Redemption notices have been mailed to registered holders of the outstanding bonds.
Southern Electric Generating Company is a jointly owned subsidiary of Alabama Power Company and Georgia Power Company.
SOURCE: Southern Electric Generating Company
Contact: Darya Braggs of Alabama Power, 205-257-4155, or