Gulf Power files for $500 million mixed shelf

mercoledì 12 marzo 2008 19:54
 

March 12 (Reuters) - Gulf Power Co (GLFPN.PK: Quotazione), a unit of Southern Co (SO.N: Quotazione), said on Wednesday it may periodically sell up to $500 million in Class A preferred stock, preference stock, senior notes, and junior subordinated notes.

The company said it intends to use the proceeds in connection with its ongoing construction program, to pay scheduled maturities and/or refundings of its securities, to repay short-term debts and for other corporate purposes.

Under a shelf registration filed with the U.S. Securities and Exchange Commission, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale. (Reporting by Avishek Mishra in Bangalore; Editing by Deepak Kannan)