Energen Utility Unit Sells $75 Million of Notes
BIRMINGHAM, Ala., Aug. 27 /PRNewswire/ -- Energen Corporation (NYSE: EGN)
today announced that its natural gas utility, Alabama Gas Corporation
(Alagasco), has completed the sale of $75 million of 15- and 30-year notes due
September 1, 2016 and 2031, respectively. Net proceeds will be used to repay
short-term debt and for general corporate purposes.
The underwriters of the offering were Edward D. Jones & Co., L.P., which
handled the sale of $40 million of 15-year notes priced at par with a coupon
of 6.25 percent, and A.G. Edwards & Sons, Inc., which placed $35 million of
30-year notes priced at par with a coupon of 6.75 percent.
Alagasco, a wholly owned subsidiary of Energen Corporation, is the largest
natural gas distribution company in Alabama, serving approximately 470,000
customers in central and north Alabama. Energen Corporation is a diversified
energy holding company engaged in natural gas distribution and the acquisition
and exploitation of oil and natural gas properties in North America.
MAKE YOUR OPINION COUNT - Click Here
SOURCE Energen Corporation
CONTACT: Julie S. Ryland of Energen Corporation, +1-205-326-8421/