- 35 million equity units priced at $50 stated amount ($1.75 billion aggregate).
- Annual distribution rate: 8.625%.
Southern Company priced 35 million equity units at $50 each, raising ~$1.724 billion. Proceeds will repurchase convertible notes and reduce short-term debt. Annual distribution rate is 8.625%.
One free account opens every story complete, the live board, the 30-day calendar, a watchlist and breaking alerts on your phone. No card. The wire stays free to read.