Southern Company subsidiary Southern Power announced that it has priced its offering of $1 billion aggregate principal amount of Green Bonds. The Green Bonds are senior notes, comprised of $500 million of Series 2015C 4.15% Senior Notes due December 1, 2025 and $500 million of Series 2015D 1.85% Senior Notes due December 1, 2017. The notes will be senior unsecured obligations of Southern Power. Southern Power expects the offering to close on November 17, 2015, subject to customary closing conditions.

An amount equal to the net proceeds of the offering will be allocated to renewable energy generation projects, including financing of, or investments in, solar and wind power generation facilities located in the United States.  

BofA Merrill Lynch, Barclays, MUFG, Mizuho Securities and Morgan Stanley are acting as the joint book-running managers for the offering, and BofA Merrill Lynch acted as Lead Green Structuring Agent.

The offering was made under a shelf registration statement that was filed with the U.S. Securities and Exchange Commission and became effective on September 10, 2015.