Southern Company offers $1.25B in convertible senior notes due 2028

SOUTHERN CO

Offering of $1.25B in convertible notes due June 15, 2028; underwriters may purchase additional $200M.
Interest rate and conversion price to be determined at pricing; notes are senior, unsecured obligations.
Proceeds to repurchase portions of outstanding 3.875% notes due 2025 and 4.50% notes due 2027.
Remaining proceeds to repay commercial paper and for general corporate purposes, including subsidiary investments.
Private placement to qualified institutional buyers under Rule 144A; notes and conversion shares not registered.

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