ATLANTA, GA – Georgia Power Company, a leading electric services provider with annual revenues of $11.06 billion and strong revenue growth of 8.72% in the last twelve months, announced Monday the issuance of $600 million in senior notes. The Series 2024D 4.55% Senior Notes, due March 15, 2030, were underwritten by a consortium including J.P. Morgan Securities LLC and several other financial institutions.
The notes are expected to bolster Georgia Power's financial position, adding to its existing total debt of $18.75 billion. According to InvestingPro, the company maintains robust operational performance with an EBITDA of $5.76 billion, enabling continued investment in infrastructure and services.
In conjunction with the offering, Georgia Power entered into a Seventy-Second Supplemental Indenture to Senior Note Indenture on December 5, 2024. The company also provided a series of legal opinions and consents from Troutman Pepper Hamilton Sanders LLP regarding the issuance, which addressed the validity of the notes and related tax matters.
The offering was made on the New York Stock Exchange, where Georgia Power's Series 2017A 5.00% Junior Subordinated Notes are also listed under the ticker symbol GPJA, currently trading at $22.85 with an annual dividend of $1.25 per share.
In other recent news, Georgia Power Company has made a significant move in its financial strategy by issuing $117,087,000 in floating rate senior notes, due November 15, 2074. This issuance, named the Series 2024C Senior Notes, is part of the company's ongoing efforts to secure long-term capital and maintain a robust balance sheet.
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