SO · Southern Company 6.5 % Notes 2025-15.03.85

Summary

The Southern Company entered into an Underwriting Agreement on March 16, 2026, with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, and U.S. Bancorp Investments, Inc. as representatives of the Underwriters for the issue and sale of $1,300,000,000 aggregate principal amount of Series 2026A 6.00% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due April 1, 2058. The notes were registered under shelf registration statement No. 333-277138 and issued pursuant to a subordinated indenture supplemented on March 19, 2026.

Key takeaways

• Entered Underwriting Agreement on March 16, 2026
• $1,300,000,000 principal amount of Series 2026A 6.00% Fixed-to-Fixed Reset Rate Junior Subordinated Notes
• Maturity date April 1, 2058
• Interest at 6.00% per annum until April 1, 2033, then Five-Year Treasury Rate plus 1.993% (minimum 6.00%)
• Semi-annual interest payments commencing October 1, 2026
• Seventeenth Supplemental Indenture dated March 19, 2026 to Subordinated Note Indenture dated October 1, 2015