Alabama Power Announces Planned Redemption of Senior Notes

Oct 14, 2011, 16:16 ET from Alabama Power Company

BIRMINGHAM, Ala., Oct. 14, 2011 /PRNewswire/ -- Alabama Power Company plans to redeem all of the company's remaining outstanding Series EE 5.75% Senior Insured Quarterly Notes (IQ Notes(SM)) due January 15, 2036 (Cusip No. 010392 EQ7). The notes, in the aggregate principal amount of $99,845,000, will be redeemed at a price equal to 100 percent of the principal amount plus any accrued and unpaid interest to the date of redemption. The redemption is scheduled for November 14, 2011.  

Holders of these Series EE Senior Notes will receive a notice of redemption 30 days prior to the redemption date.  The Bank of New York Mellon will serve as redemption agent.

Alabama Power, a subsidiary of Atlanta-based Southern Company (NYSE: SO), provides reliable, affordable electricity to more than 1.4 million customers across the state.

SOURCE Alabama Power Company