Southern Company prices $1.5B convertible senior notes due 2025 at 3.875%

SOUTHERN CO

$1.5B aggregate principal of Series 2023A 3.875% Convertible Senior Notes due Dec 15, 2025.
Initial conversion price of $84.16 per share, a 30% premium over Feb 23 closing price.
Initial purchasers granted option to buy up to an additional $225M in notes.
Net proceeds to repay outstanding commercial paper and for general corporate purposes.
Offering expected to close Feb 28, 2023, subject to customary conditions.

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