A social bond is a bond the proceeds of which are allocated towards the financing or refinancing of eligible projects with social benefits. Through our subsidiary Northern Illinois Gas Company (“Nicor”), the Southern Company system has priced four social bonds totaling $375 million.

Southern Company System Social Bonds: Issuance Information1

$ amounts in Millions
Issuer2 Issuance Coupon Amount Priced3 Maturity CUSIP Amount Issued3 Amount Allocated4
Nicor

Aug-2021

1.42%

2.19%

$50

$50

Aug-2026

Aug-2033

665228J@2

665228K@0

$50

$50

$50

$50

Oct-2021

1.77%

$100

Oct-2028

373334KR1

$100

$100

Aug-2022

2.21%

$100

Aug-2032

665228K*2

$100

 

Oct-2022

3.18%

$75

Oct-2062

665228L*1

 

 

Southern Company System (Total Amount) $375 $300 $200

1 As of 8/31/2022; Nicor’s social bonds were issued via a private placement

2 Click an Issuer to view the Social Bonds webpage associated with that issuer

3 Nicor is expected to issue its 3.18% $75M Social Bond on 10/27/2022. The bond was priced in August 2021

4 Nicor expects to allocate the $175M in proceeds from its 2022 Social Bonds by August 2023



Per our Sustainable Financing Framework, an issuer has up to 12 months from the time of issuance to allocate net proceeds. As of 8/31/2022, the Southern Company system has completed the allocation of $200 million social bonds, all of which are at Nicor Gas.

Southern Company System Social Bonds Impact Summary1

of Proceeds

allocated to Eligible Social Spend from
Social Bonds

Minority and Women figures united

100 Minority- and Women-Owned Suppliers

Supported by
Social Bonds

Soldier

10 Verteran-Owned Suppliers

Supported by
Social Bonds

Figures with increasing graph line

14 Small Business Suppliers

Supported by
Social Bonds


More information on Nicor Gas’ social bonds can be found here.