Georgia Power issues corner Equality Progress Sustainability Bond

Georgia Power issues corner Equality Progress Sustainability Bond

Georgia Power Company (“Georgia Power”), the largest electric attachment of The Southern Company (“Southern Company”), blazoned moment it issued$1.5 billion in elderly relaxed bonds on May 4, 2022 to make investments that will help deliver clean, safe, dependable, and affordable energy to its guests, while also boosting original communities and driving profitable addition.$ 800 million of this bond immolation comported of the first- ever Equality Progress Sustainability Bonds (“EPSBs”) issued by a commercial borrower. EPSBs are designed to advance ethnical equivalency, profitable occasion, and environmental sustainability, with an quantum equal to at least 50 of the net proceeds being allocated to social spend aimed to primarily profit nonage-and/ or womanish- possessed suppliers. Equality Progress Sustainability- labeled notes were first introduced by Bank of America in 2020; BofA Securities,Inc. also served as Georgia Power’s Sustainability Structuring Agent.

Georgia Power totem. (PRNewsFoto/ Georgia Power)

Georgia Power serves2.7 million guests across the state, with regular investments and advancements designed to cover the terrain, increase trustability and deliver the power demanded for Georgia’s unborn growth – all of which is supported by a broad and different supplier base. Georgia Power is also committed to planting coffers to advance inclusivity, equity and social justice, and has a company-wide thing to increase its chance of spend with different suppliers and nonage-suppliers to 30 and 20 of overall spend by 2030. The targeted social benefits of this corner EPSB align with Southern Company’s” Moving to Equity” frame established in 2020, as well as Georgia Power’s continued focus on advancing ethnical equity and social justice.

“At Georgia Power, our commitment to helping farther ethnical equity and social justice in the state of Georgia means we’re constantly looking for new and different ways we can support these kinds of sweats, and this bond is a great illustration of how we are doing just that,” said Aaron Abramovitz, Executive Vice President and Chief Financial Officer for Georgia Power.”We are pleased investors and the business value how important the allocation of this kind of bond is and fete how poignant this can be for nonage-and womanish- possessed businesses. Being the first commercial issuer to issue this type of bond is commodity we’re veritably proud of.”

“This initial commercial Equality Progress Sustainability sale continues the leadership in ESG- bond admeasurements of the Southern Company system, which completed one of the first commercial admeasurements of an ESG-themed bond in 2015,” said Andrew Karp, head of ESG Advisory & Financing Results at Bank of America.”We hail Georgia Power for being the first commercial to align its bond allocation with the Equality Progress Sustainability Bond marker and for using the capital requests to support and advance its sustainability pretensions. We hope interest in this theme continues to make in the request.”

This advertisement reflects the leadership of Georgia Power’s parent company, Southern Company, which, through its accessories, is now the largest Utility Environmental, Social and Governance (“ESG”)- bond issuer and the alternate-largest Commercial ESG- bond issuer. Southern Company accessories have preliminarily issued 11 ESG- labeled bonds, including 8 Herbage, 1 Social and 2 Sustainability.

Farther evidencing the company’s commitment to supporting diversity and addition, Siebert Williams Shank &Co., LLC (a leading public women-and nonage- possessed investment banking establishment) was included as a common book- running director. Also, BofA Securities,Inc., Mizuho Securities USA LLC, MUFG Securities AmericasInc., PNC Capital Requests LLC, Scotia Capital (USA)Inc. and Truist Securities,Inc. also served as common book- running directors.

This sale was issued in alignment with Southern Company’s Sustainable Backing Framework firstly published in 2021.

To learn further about Southern Company’s Sustainable Backing Framework, please visit https//investor.southerncompany.com/fixed-income.

Georgia Power’s Ethnical Equity and Social Justice Commitments
This bond allocation is in addition to Georgia Power’s ongoing commitments to help advance ethnical equity and social justice sweats in the State of Georgia, including investing$ 87 million, along with the Georgia Power Foundation, throughout 2021-2025 to support enterprise concentrated on education equity, felonious justice equity, profitable commission, and energy justice. The company’s investment is part of the overall commitment by Southern Company and its charitable foundations to invest a combined$ 225 million over five times to support these sweats. This fiscal commitment is a crucial element of Southern Company’s Moving to Ethnical Equity frame to help guide and further define its conduct and commitments around ethnical equity work.
About Georgia Power
Georgia Power is the largest electric attachment of Southern Company (NYSE SO), America’s premier energy company. Value, Trustability, Client Service and Stewardship are the keystones of the company’s pledge to2.7 million guests in all but four of Georgia’s 159 counties. Committed to delivering clean, safe, dependable and affordable energy at rates below the public normal, Georgia Power maintains a different, innovative generation blend that includes nuclear, coal and natural gas, as well as renewables similar as solar, hydroelectric and wind. Georgia Power focuses on delivering world- class service to its guests every day and the company is honored byJ.D. Power as an assiduity leader in client satisfaction. For further information, visitwww.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/Georgia Power), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).