Alabama Power Company Announces Planned Sale of Senior Notes
The proceeds from the sale of the notes will be used for the full redemption of the company's Series C 7% Senior Notes (Cusip #: 010392629, NYSE Symbol: ABJ) due March 31, 2048 ("Series C Senior Notes") currently outstanding in the aggregate principal amount of $190,000,000 and for other general corporate purposes.
Holders of the Series C Senior Notes to be redeemed will receive a notice of redemption at least 30 days prior to the redemption date. Redemption of Series C Senior Notes is contingent upon the closing of the sale of the Series V 5.60% Senior Notes. The expected date for closing is on or about March 14, 2003.
Alabama Power, a subsidiary of Atlanta-based Southern Company
SOURCE: Alabama Power Company
CONTACT: Carrie Kurlander of Alabama Power, +1-205-257-4155, or