Alabama Power Company Announces the Sale of Senior Notes
Alabama Power Company has entered into an agreement with a group of underwriters led by Lehman Brothers for the issuance of $442 million of senior notes, according to William B. Hutchins, III, Executive Vice President, Chief Financial Officer and Treasurer. The senior notes will be issued in two series as follows:
* $275 million - Series N 4.875% Senior Notes due September 1, 2004. * $167 million - Series O Floating Rate Senior Notes due March 3, 2003.
It is expected that both series of senior notes will close on or about August 29, 2001.
Alabama Power, a subsidiary of Atlanta-based Southern Company
SOURCE: Alabama Power Company
Contact: Darya Braggs of Alabama Power, +1-205-257-4155, or