Southern Co. Gas Capital preps offering of seven- and 30-year notes

By Cristal Cody

Eureka Springs, Ark., Sept. 8 – Southern Co. Gas Capital Corp. intends to price seven- and 30-year senior notes in two tranches, according to 424B5 filings with the Securities and Exchange Commission on Thursday.

J.P. Morgan Securities LLC, Mizuho Securities USA Inc., MUFG and SunTrust Robinson Humphrey Inc. are the bookrunners.

Proceeds will be used to repay funds the parent company lent to complete the acquisition of the 50% equity interest in Southern Natural Gas and related transaction costs, to repay $120 million of series A senior floating-rate notes due in October and for general corporate purposes.

Southern Co. Gas Capital is a financing arm of Atlanta-based energy services holding company Southern Co. Gas.

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