Southern Co subsidiaries Alabama Power and Georgia Power secured DOE‑guaranteed FFB credit facilities: AL…
Filed with the SEC on · Summarized by InvestorsBot
Southern Co subsidiaries Alabama Power and Georgia Power secured DOE‑guaranteed FFB credit facilities: AL max ~$4.1B, GA max ~$22.4B. Georgia Power requested an initial ~$1.0B advance on Feb 20, 2026 (expected Mar 2026). 🏦 $SO #SouthernCo #Energy
Key terms: maturity Dec 10, 2055; interest = U.S. Treasury rate +0.375% (set at advance), quarterly interest. AL principal: 3 equal annual installments from Dec 10, 2053; GA principal: 7 equal annual installments from Dec 10, 2049. 🔁 $SO #FinTerms #DOE
Borrowings are full‑recourse, senior unsecured obligations of each borrower; DOE guarantees but each borrower must reimburse DOE for any payments. Advances cover up to 80% of eligible project costs (gas, transmission, storage, nuclear, hydro, grid). ⚡ $SO #Infrastructure #Energy
Availability ends at earliest of Sep 15, 2033, hitting max facility, or default; AL must request an initial advance by Feb 20, 2031 or funding terminates. Issuance costs: AL ~$10M, GA ~$29M. Material covenants, default & prepayment provisions apply. 📑 $SO #Regulation #Utilities