Southern

Southern Company's stock fell in premarket trading after the placement of a $2.375 billion convertible bond. The issue is split into two tranches ( $725m at 2.125% due Dec. 2027; $1.65bn at 3.50% due Sept. 2029) and is convertible into common shares, triggering shareholder dilution concerns. Part of the proceeds will be used to repay older convertibles (2024A), with the remainder for short-term liabilities and general corporate purposes. Despite adjusted Q2 earnings beating expectations and an increased full-year outlook, the size of the offering combined with a market rotation away from defensive utilities weighed on the stock. » Plus sur de.investing.com

Southern Company is offering convertible senior notes in a private placement in two series: Series 2026A for $725 million (coupon 2.125%, matures December 15, 2027) and Series 2026B for $1.65 billion (coupon 3.50%, matures September 15, 2029). Conversion prices are about $104.56 (12.5% premium) for 2026A and roughly $118.50 (27.5% premium) for 2026B; initial purchasers have an option to purchase additional notes. Southern Company expects net proceeds of about $721 million and $1.63 billion (rising to up to $829 million and $1.88 billion if fully exercised) and intends to use the proceeds to repurchase Series 2024A, pay short-term liabilities and for general corporate purposes. The closings are expected on August 6, 2026. » Plus sur de.investing.com

Southern Company is issuing two tranches of senior, unsecured convertible notes in a private placement to qualified institutional buyers: $650 million due December 15, 2027, and $1.5 billion due September 15, 2029, with purchase options to increase the size. Interest will be paid semiannually; final conversion prices and interest rates will be set at pricing. Conversion rights are restricted until certain dates; upon conversion the company will make cash payments up to the principal amount and may deliver cash, shares, or a combination. Part of the proceeds will be used to repurchase certain existing convertible notes; the remainder will be used to repay short-term debt and for general corporate purposes. The notes and the shares to be issued upon conversion have not been registered under the U.S. Securities Act. » Plus sur de.investing.com